How Corporate Travel Can

Harness the Power of Social Media

The 2008 Masters Program

February 20th - 21st, 2008
Washington, D.C.

Adam Healey
Presented by: Co-founder & CEO
VibeAgent Inc.
 Introduction
VibeAgent leverages “2.0 tools” to help travelers
more easily research and book hotels online.
user reviews + meta-search + social networking
What is
Social Media?
Defining Social Media

We Know Best You Know Best

Defining Social Media

Broadcast
Media
“We tell you.”

Interactive “Tell us what you think

Media about what we tell you.”

Social
Media
“Tell each other.”
Defining Social Media

It’s about Participation

 It can be accessed & updated on demand.
 It can be mashed up with other media.
 It is asynchronously interactive.
 Its popularity is transparent.
 It can be produced for “free.”
 It can be distributed for “free.”
 It can be easily shared.
Defining Social Media

It’s about Conversations you

Choose to Join…or Not
The Participation Power Law Lead
Moderate
Collaborate
Write
Network
Share
Subscribe
Comment
Tag Collective Collaborative
Favorite
Read Intelligence Intelligence

Low Threshold High Engagement

Thanks to Ross Mayfield 2006

Defining Social Media

It’s a Whole New Way of

Understanding Markets

“People in networked markets have figured

out that they get far better information and
support from one another than from vendors.”
- the cluetrain manifesto
Defining Social Media

This is a Global Phenomenon

Source: Ipsos Insight, July 2007 * denotes urban sample

What about
Travel?
Social Media and Travel

It’s About Maximizing the Experience

 Social Media and Travel

Social Media Influences Travelers

Channel

of travelers are influenced by user reviews

58% when deciding which channel to use†
Product

of travelers are influenced by user reviews

47% when deciding what travel to purchase†
Price

additional amount people are willing to pay

99% after reading positive user reviews online‡
† The PhoCusWright Consumer Travel Trends Survey, Ninth Edition, May 2007
‡ Comscore and Kelsey Group Consumer Review Survey, October 2007
 Social Media and Travel

Business And Leisure Meld Together

Crossover

of business trips are extended to leisure stays,

44% for an average of almost 5 days†
Consistency

of these crossover travelers stay in the same

57% hotel and city during their extended trip†
Conclusion

of the corporate firewall is an artificial construct

100% when it comes to making travel decisions

† The PhoCusWright Business Travel Trends Survey, Second Edition, August 2007
Social Media and Travel

The 4Ps = The Future of Online Travel

Profile + Participation + Platform

Personalization
“What I want. When and where I want it.
Recommended by people I know and trust.”
Social Media and Travel

The Web is the Platform

Container

n s
atio
li c
p p
A
What about
Corporate?
Social Media and Corporations

The Fundamental Tension

“Information wants to be free.

Information also wants to be expensive.
That tension will not go away.”
- Stewart Brand
Social Media and Corporations

Is This How You Think About

Your Stakeholders?
Traveler Traveler Traveler Traveler

Corporate Travel Department

Supplier Supplier Supplier Supplier
Social Media and Corporations

Isn’t Reality A Bit More Chaotic?

Supplier
Supplier
Traveler
Traveler

Corporate
Travel

Supplier Traveler

Supplier
Traveler
Now What?
Harness Social Power

This is More Than A Trend -

It’s a Paradigm Shift

#1 Join - and then lead - the conversation.

#2 Assign internal responsibility for social media.

#3 Make a long-term investment commitment.

Harness Social Power

Create a Social Media Platform -

Answer These 3 Questions:

#1 How can we support open conversations?

#2 How can we provide value to all stakeholders?

#3 How can we leverage this intellectual capital?

Harness Social Power

A Winning Social Media Strategy

Has the Following Attributes:

#1 Aligns the interests of all stakeholder groups.

#2 Provides a significant and measurable ROI.

#3 Encourages a participatory company culture.

Harness Social Power

Recommended Reading:

#1 The Cluetrain Manifesto | Levine et al.

#2 The Wisdom of Crowds | Surowiecki

#3 Naked Conversations | Scoble

Thank You!

Adam Healey
Co-Founder & CEO
VibeAgent Inc.
adam@vibeagent.com

Come visit us at www.vibeagent.com!