French performance marketing technology firm Criteo has unveiled an upgrade, allowing clients to target potential customers based on the amount they are likely to spend.
The Criteo Engine now assigns each individual browser a predicted booking value based on a complex data computation and takes this into account when bidding on ads.
This allows travel firms selling online to focus their marketing budgets on the most valuable buyers and optimises campaigns to boost online revenue at the right cost of sale.
The enhanced Criteo Engine is live with more than 300 clients worldwide and, the firm claims, has increased overall booking value by an average of 20% for travel clients.
Criteo has also launched a new set of advertising layouts for the travel sector that are mobile-native and comply with airline advertising regulations.
Jonathan Wolf, chief product officer at Criteo, said: “The travel market has one of the most discerning online audiences, with purchase decisions typically driven by extensive research across devices, often with the help of many different websites.
“Our latest engine enhancements are specifically focused on the travel industry. Travel advertisers are now able to reach higher value vacation planners who are likely to spend more, and reduce ad spend on lower value customers.
“As a result, our travel clients across the world have seen on average a twenty percent increase in booking value from Criteo marketing.”
Gretlies Ringe, senior marketing campaign manager at Tuifly.com, added: “By activating Criteo-COS-Optimizer – a feature that increases the probability of conversions based on data such as travel duration and advance booking period – we were able to optimise the KPI’s of our campaigns.
“Thus we were able to reduce the COS by 29% and the CPOs by 10%. In addition to this, we were able to increase the Conversion Rate by 11%. It is a real business advantage that Criteo regularly offers new options to optimize our display efforts which means we see a continuous improvement in our performance.”
Andrew Booth, chief revenue officer at LateRooms.com, said: “The enhanced Criteo Engine takes our campaigns to the next level and has allowed us to build a deeper relationship with the customer.
“As we drive towards live interactions with customers, automatically understanding spending patterns means we can ultimately drive more relevance, which is resulting in significant increases in our core customer KPIs.”