Using analytics to rebound from market disruption
Rental, Marketing, Travel
Goss is a luxury RV supplier with a leading share of the luxury rental RV travel market. In 2018, two new entrants with backing from venture capital entered the market with the AirBnB approach of peer-to-peer rentals. These new entrants flooded the digital adwords market, making Goss’ primary source of leads both costly and more competitive. This also severely impacted their bookings and revenue.
Goss needed to rebuild their sales growth, but couldn’t afford to spend at the higher levels now required by a traditional adwords approach. This market disruption also proved they needed specific marketing strategies for each of their target markets. They also had no data to measure the success or failure of their marketing programs.
We started by applying a formalized process to their marketing and business strategy. This brought greater focus to the addressable markets and segments where they could succeed in this new landscape.
The targeted market shifted focus to someone specifically looking for a luxury RV. They also added the adjacent market of luxury travel, where someone was looking for a luxury experience and was open to new ways to travel, such as high-profile events with white-glove service. This narrow focus was in an area they could win and gave them expansion opportunities for customers who had not thought about luxury travel in million-dollar motor coaches.
We then overlaid a re positioned marketing plan with projections and budgets. A heavy email campaign, as well as a revised digital focus and social media, were easily measured to help track success.
In the first year of the new strategy and campaign, Goss’ sales grew by 38%. The number of deals closed increased by 24%. Both of results came in the face of 25% fewer leads.
What they found was a more fine-tuned approach to marketing and measuring resulted in improved overall sales, a higher than average booking invoice and lower overall marketing expenses.