It’s well known that expanding any business brings new challenges – and for Hostelworld, which offers backpackers access to tens of thousands of lodgings around the globe, expansion has happened faster than for most.
“We use a wide range of channels to communicate with consumers and Search is among the most important,” says Hostelworld CEO Gary Morrison.
“The introduction of automated bidding has been something of a revelation for us. Getting the algorithms just right has been a challenge but the rewards have definitely been worthwhile, as it means the considerable amounts of information that we gather can be condensed into a more digestible manner, allowing us to make decisions more easily.
We use a combination of automated bid options to maximise conversions and we adapt depending on the campaign, the customer and the time of year.”
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Getting new customers costs 5-25 times as much as retaining existing ones – TheMarketingblog https://t.co/OwyY56mbJs pic.twitter.com/ljMaaFiJZS
— Will Corry (@slievemore) May 7, 2019