EXECUTIVE SUMMARY COMPANY OVERVIEW Traveling Spoon’s mission is to make travel more meaningful by connecting people with authentic food experiences around the world.
The company wants to revolutionize travelers’ trips by joining different cultures through food. Traveling Spoon does so by hand-picking hosts: home cooks who love to cook and share their culture with others around the world. The company offers personal meals, cooking experiences, and market tours with a vetted host around the world. The company’s vision is to change travel and gift every traveler with a meaningful, memorable experiences with locals, in the locals’ homes.PROBLEMS Despite having hosts in over 30 countries, and a net promoter rate of 77, very few travelers are aware of Traveling Spoon due to a lack of social media displays, a succinct operating history, and a miniscule operating team for such an extensive company. OBJECTIVESExpand company recognition in target audiences Gain more hosts worldwide Increase Traveling Spoon sales by 20% TARGET MARKETS Primary: Young adults worldwide interested in a culturally diverse travel experience.
Secondary: Middle-class elderly adults looking for new opportunities during their travels. “TRAVEL OFF THE EATEN PATH” CAMPAIGN STRATEGYIn order to expand the amount of travelers and the company brand, Traveling Spoon will set a budget of $40,000 to use for advertisements and promotions. The campaign will run from May – July of 2018, and is estimated to cost $37,575. Throughout the three months, social media, radio, and print advertisements will be used to raise awareness of Traveling Spoon and increase sales by 20%.DESCRIPTION ABOUT THE COMPANYFounded on July 24, 2013 by Aashi Vel and Stephanie Lawrence, Traveling Spoon, Inc. is an online marketplace that connects travelers with authentic food experiences around the world. The worldwide company allows travelers to connect with their destination’s culture through food by offering in-home meals, as well as in-home cooking classes and market visits.
STRENGTHSOPPORTUNITIESWEAKNESSESTHREATS1. A truly unique service offering1. Growing market that has yet to be adequately addressed1. A challenge to find hosts who possess the necessary skills and customer-centric attitude2. Unpredictable weather conditions will threaten the success of trips1.
A slump in the economy will affect the travel industry2. An increase in terrorist acts will chill consumer perception of safety when traveling3. The entrance of other service providers into Traveling Spoon’s nicheSAFETYAfter its start in 2013, Traveling Spoon has gained over 250 hosts in 38 countries. Each host must go through a three-step vetting process: initial interview, site visits, and qualifying.
This stringent and personal vetting process allows Traveling Spoon to maintain safety among their customers, all while bringing on the best home cooks to best match those hosts with our travelers.HOW IT WORKSTraveling Spoon allows travelers to go online and enter their destination. The website will bring up hosts in that area with a description of themselves and an average price that hosts charge for an in-home meal. The traveler then requests their desired host. After the request is put in, the traveler must enter when they will be traveling to the destination. The host will be able to see the traveling dates and can then approve the request. The host and traveler will be put in contact with each other to arrange further details of the experience.
OBJECTIVES OF THE CAMPAIGNWith mostly limited funds, tourism brands have to be smart about their investments. Our measureable promotional strategies were thus created to ensure you are only investing in activities that will increase your bottom line. The effectiveness of the “Travel off the Eaten Path” campaign will be analyzed using the following objectives: The “Travel Off the Eaten Path” campaign is aimed at promoting brand awareness and building a positive public image. As the company advertises and gains more travelers, Traveling Spoon will also need more hosts in order to account for the increase in demand. As people use the company, they will most likely be a returning customer.
These travelers will also promote the brand through word of mouth, which will also expand the brand. As the number of experiences rises, Traveling Spoon will grow and expand sales by 20%.IDENTIFICATION OF THE TARGET MARKET Primary Market:PSYCHOGRAPHICSDEMOGRAPHICSGEOGRAPHICSWant to gain new cultural experiences College age students, 18-25 WorldwideNew to travelingIncome = $15,000- $25,000/yr Moderate income areasThe Primary Market for the “Travel Off the Eaten Path” campaign is young adults around the world who are interested in traveling and pursuing new opportunities. They have a moderate income, able to support their travels. These people stay connected online and could help promote the company on social medias. Secondary Market:PSYCHOGRAPHICSDEMOGRAPHICSGEOGRAPHICSInterested in new travel opportunities Married people, age 55-70 WorldwidePossess travel experienceIncome = $35,000-$55,000/yr Higher income areasThe secondary target market of the “Travel Off the Eaten Path” campaign is middle-class elderly adults around the globe who want a more diverse traveling experience. These people have a slightly higher income than the primary market. With some of this market being retired, they will most likely travel more and be returning customers.
LIST OF ADVERTISING MEDIA SELECTIONThe following advertisements will be used to get product information out to consumers. They can have a positive effect on overall sales with increased profits, but take longer to achieve results. The advertisements are primarily aimed at brand building.A. SOCIAL MEDIAJust about everyone has some form of social media in today’s world. Whether it’s Instagram, Twitter, or Facebook, we’ve all discovered something through the internet.
Recently, Instagram added a feature to the timeline that allows people to put an ad up. Twitter and Facebook have similar features. On this ad, a link will be connected, therefore, when people are interested in the advertisement, they can click on it and be taken to information about Traveling Spoon. With 100 million daily Twitter users, 500 million daily Instagram users, and 1.15 billion daily Facebook users, Traveling Spoon’s awareness would have exponential growth. B. PRINT MEDIATravel and Food & Travel magazines have available advertisement spaces that would be the perfect opportunity to attract the regular traveler.
Both magazines produce monthly issues, therefore, Traveling Spoon can edit the advertisement if needed. C. RADIO ADVERTISINGMajority of people listen to the radio at some point throughout the day, whether it’s in the car or shopping in a store. Radios would not exist without their ads.
Traveling Spoon can insert a quick ad on the most popular radio station among each target market. Although there is not one station to advertise internationally, National Public Radio would be able to reach a large population of the U.S. D. DESTINATION VIDEOSThe whole online world is moving toward videos; videos convey huge chunks of information in very little time. Due to that, they are a great option to showcase what your company is all about. Even more, there has been a large spike in a number of travel videos being produced and watched.
Everyone enjoys seeing previews of beautiful travel spots around the world. Through destination videos, interested customers can see destinations where Traveling Spoon hosts are located. The videos will give a glance into what the wonderful opportunity holds. E. INFLUENCER MARKETING There’s a huge marketing resource that many companies leave untapped: your target audience. Considering the fact that one of the most powerful tools in marketing is word of mouth, one of the best ways to get the word out about your company is by getting in touch with your target audience and leveraging them to market your brand. In other words, by building a brand ambassador program.
SCHEDULE OF ADVERTISING (May – July 2018) A. SOCIAL MEDIA Instagram, Twitter, and Facebook are all booming platforms during summer months. Firstly, because everyone accesses them almost daily, but also because young adults aren’t in school during summer months, which allows them more internet time. Advertisements will be used on each app for the three months. People will be scrolling through their friends’ vacation photos and see an ad for Traveling Spoon. B. PRINT MEDIA When people are planning trips and looking for activities at their destination, ads in Travel and Food and Travel magazines will show them the opportunity they have with Traveling Spoon.
These ads will be entered in each monthly issue. C. RADIO ADVERTISINGAds recorded with National Public Radio will be played once a day Monday – Friday during the first and last week of each of the three months. Each ad will be 60 seconds long. The ads will discuss what Traveling Spoon is, how it works, and where to find more information about it. D. DESTINATION VIDEOSDestination videos will be available for viewing on Youtube starting in May of 2018.
The video will feature multiple locations and multiple experiences with the hosts. Although the video will be under two minutes, it will be packed with mesmerizing travel content that’ll make anyone want to board a plane immediately. E. INFLUENCER MARKETING Traveling spoon will publicize their online application for Brand Ambassadors prior to the three month long advertising campaign via their Instagram, Twitter, Facebook, as well as the front page of their website.
They will then select 10 applicants that demonstrate strong knowledge of (and appreciation for) marketing, an established online presence, a high level of professionalism, natural leadership skills, a passion for building and growing relationships, and the ability to gather feedback and provide innovative insight. Throughout the three months, these 10 lucky brand ambassadors will get the chance to experience some unique culinary excursions, and endorse the company/engage with potential customers all through the three months via all their social media. SCHEDULE OF ALL SALES PROMOTION The following tactics will be used to implement instant increases in sales. Promotional sales are designed to offer incentives to consumers, motivating them to buy your service immediately. Promotion is more focused on building sales in the short term, rather than brand building. The sales promotions are primarily aimed at increasing sales.
For the first and last week of every month, a coupon code will be attached to the social media ads. When people schedule their trips, and enter their coupon code, they will get 15% off on their experience with Traveling Spoon. A new code will be sent out for each of these six weeks. People can use only one of the six codes when discounting their trip, however, it can be from any of the six weeks.
BUDGET (detailed projections of actual cost)ADVERTISING CAMPAIGNCOSTNOTESONLINE ADVERTISINGsocial mediadestination videoinfluencer marketing$6,000$2,000$10,000Instagram, Twitter, and Facebook ads for the months of May – July2 minute Youtube videoThe Brand Ambassador Program will cover traveling and housing expenses, as well as the culinary experiences. PRINT ADVERTISINGmagazines$4,025 x 3 months = ¼ page ads in Travel and Food and Travel magazinesBROADCAST ADVERTISING radio$250/ 60 second ad x 1 time a day x 30 days = Aired on NPR once a day, Monday-Friday of the first and last week of every monthTOTAL$37,575STATEMENT OF BENEFITS TO THE CLIENT/ADVERTISER BENEFITS TO THE CLIENTWe are committed to providing potential customers with the opportunity to enjoy unique and authentic cultural immersion through food. Home chefs showcase cuisines generally unavailable in restaurants, and provide travelers with an experience they won’t receive anywhere else. We’re not just selling the food, we’re selling the experience: the conversation, the culture, the adventure. In the world around us today, safety is a huge concern while traveling.
To maintain the protection of travelers, Traveling Spoon uses a thorough vetting process to select hosts. The steps taken to ensure the wellbeing of customers is what makes Traveling Spoon so unique in its customer service!BENEFITS TO THE ADVERTISERUsing our various advertising strategies and promotional events, fresh clientele from all over the world will be eager to try out Traveling Spoon! Important aspects in marketing include increasing awareness, establishing a cohesive brand identity, and growing sales. BIBLIOGRAPHY”Traveling Spoon – Travel off The Eaten Path.” TravelingSpoon, www.travelingspoon.
com/.LaunchConf. “Traveling Spoon Presents at LAUNCH Festival 2017.
” YouTube, YouTube, 12 Apr. 2017, www.youtube.com/watch?v=uy5XCHqdosQ.
“Instagram Ads Cost in 2017 – Complete Guide to Instagram Ad Bidding.” Aggregate Blog, 24 Nov. 2017, aggregateblog.com/instagram-ads-cost-and-bidding/.