Digital Business Management and Emerging Technology - A Case Study on Travelodge Hotels Limited
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This report explores the e-business model, competitive and digital business strategies, digital marketing options, customer traffic data, e-CRM, social network channels, and cyber security measures used by Travelodge Hotels Limited.
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DIGITAL BUSINESS MANAGEMENT AND EMERGING BUSINESS TECHNOLOGY
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Table of Contents INTRODUCTION3 IDENTIFICATION OF E-BUSINESS MODEL THAT THE WEBSITE OF TRAVELODGE HOTELS LIMITED4 COMPETITIVE STRATEGY AND DIGITAL BUSINESS STRATEGY7 DIGITAL MARKETING STRATEGY AND OPTIONS9 CUSTOMER TRAFFIC DATA11 E-CRM AND SOCIAL NETWORK CHANNELS CYBER SECURITY MEASURES15 CONCLUSION17 REFERENCES18
INTRODUCTION Digital business management refers to the use of technology for the purpose of creating new value in a business. It makes uses of business models, customers experience and the potential of a company to conduct smooth functioning of an organization. The present report is based on the Travelodge Hotels Limited. The CEO of the company is Craig Bonnar and the company was founded in the year 1973. The present report is aims to identify the E- business model that the company pursues. It identifies the competitive strategy and digital business strategy used by the company. The present report will include recommendations for improving the digital marketing strategies, web market intelligence platform, and e-business ethics.
IDENTIFICATION OF E-BUSINESS MODEL THAT THE WEBSITE OF TRAVELODGE HOTELS LIMITED The company Travelodge Hotels Limited's website follows the B2C business model. The B2C refers to business to consumers. Under this e business model, the website of a company can be accessed by its consumers. The customers of the Travelodge Hotels Limited can easily book and reserve tables from the company's website, they can also book rooms by feeding in the date on which there is a requirement. Concepts and approaches to identify strengths and weaknesses of Travelodge Hotels Limited website-
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STRENGTHS The customers can easily access the website, check for the availability of rooms if required on a particular date and then book online. Similarly, they can reserve their tables if they are planning a dinner on a particular date. This makes it easier for the company to gain engagement on its website as a number of customer search for the website and check availability.
WEAKNESSES As the numbers of visitors on the website of Travelodge increases, it leads to an increase in the number of orders too. It gets difficult for the company to manage multiple orders at once. It is difficult for the company to get the orders from the same customers on a regular basis, therefore the company needs to spend more on online marketing to attract new customers.
COMPETITIVE STRATEGY AND DIGITAL BUSINESS STRATEGY Travelodge is the UK's leading hotel group is having a great importance of digital business strategy since over 70% of overall bookings are coming from digital marketing channels. Running more than 560 hotels in the nation makes the company to use digital technology as key component of its business strategy. The company is having owns official website to ease the booking process. Over the time with growing importance of digital business it spent over one million euros in the first phase of website development. it is keeping focus on overall marketing push to maximize customer traffic on it.
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RECOMMENDATION It is recommended that Travelodge should expand its area of serving since after experiencing great success of digital business as above shared that over 70% customers are booking digitally. So it can expand its presence a bit more all other competitors are using it to the fullest extent and are grabbing bigger market share. From last couple of years it is hiking the presence on you tube so can curb more customers but the view rate was less than fifty percent.
DIGITAL MARKETING STRATEGY AND OPTIONS Restructuring the digital team and enabling rapid talent growth suitable to the needs. Laying out a clear transformation digital roadmap. Working with senior team to formulate a budget and take into account opportunity cost factor. Enhancing the breadth and performance of Travelodge's digital marketing approach. Developing and maturing the digital analytics and insight function. Working with other adjacent teams to mature internal working practices, including the move from 'waterfall' to 'hybrid‘.
RECOMMENDATION With this regard it is recommended to Travelodge that it should go for better social media reputation it is essential at this point of time because the other competitors are notching up their strong presence on the social media platforms. For this purpose, it can pay attention on review sites like google maps and yelp in addition to manage the social media profiles. This step will help in enhancing image of the company to expand the grip of digital marketing
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CUSTOMER TRAFFIC DATA As per the data shared by similar web market intelligence platform it can be concluding that the company is performing good in last couple of years. There is a little information with this regard are as- In the country the rank of Travelodge is 387, in the category of the same business the rank is 6th. global rank is 11,085. Total visitors on the official website are 4.8M where bounce rate is 39.96%. Pages per visit are 4.03 and average visit duration is 00:04:30.
RECOMMENDATION Chat with support team so can give valuable information. Can use google analytics to know deeply about the Custer's visit. Map the journey of the customers. Must target the right keywords to increase website traffic. There may be problems in search intent, keyword difficulty, search volume so sort out it. Build topic cluster and pillar pages, which links out to various subtopics. Answer valuable questions to increase traffic to website pages. Can also go for google SERP click through rate.
E-CRM AND SOCIAL NETWORK CHANNELS E-CRM refers to Electronic Customer Relationship Management which is a complex task in which the customers who are visiting electronic platform of the organization, managing relationship with them to maximize their retention. For this purpose, the company has made a full-fledged strategy which consists strategies, processes and software that manages its interactions with customers and potential clients. Company monitors closely clients or visitors who made visit to their website and what they were looking for so can be provided. The specific team who handle such digital matters use website to access customers, create and update work orders and send out feedbacks to sort out the issues
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RECOMMENDATION Travelodge may go for deep analysis of trends so can manage the customers in more efficient manner. Modern E-CRM is dynamic and others are using more qualified data analytics so it is also advised to opt better data analytics. Complexities of the market are surging demand of work classification; in this context The company is suggested to bifurcate the tasks. So can deeply scrutinize the feedbacks and other requirements and can also revert best to deepen the relationship because the retention rate is not much good of visitors
CYBER SECURITY MEASURES The company has installed sufficed cyber security measures to manage its data come through various digital channels. For ensuring e-business ethics in proper way the company is practising well-organized cyber security measures. The data of the company is being held by Typeform company which is a third party data services company, make sure proper security. Typeform has confirmed that unauthorized access to their server data is not possible due to the high level of security provisions. The information which are shared by the customers or visitors are kept in storage which includes name, email address, contact number, date of birth etc.
RECOMMENDATION As company has promised to work with UK data protection regulations so it is advised to present a proper road map with this regard. Over the time data concerns have affected so many growing businesses. It is also suggested to make separate data protection policy since such companies place their different position among customers. Company is also suggested installing Attack Surface Management so can prevent potential perils. For malware just giving guidelines is not enough it can further take steps to prevent such malware.
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CONCLUSION The present report identifies the e-business strategy used by the company, Travelodge Hotels Limited. The strategy used by the company is B2C which helps the company gaining customer engagement. Moreover, the report identifies the digital marketing strategy and competitive strategy used by the company in order to gain popularity. The traffic data and the web market intelligence platform and the e-CRM have also been discussed. Furthermore, the report includes cyber security measures the company uses.
REFERENCES Bhagaswara, D., 2021. Exploration of Digital Marketing Strategy for New MarketAcquisitionin The Family Company PT. Agro Komoditi Lestari.Journal Research ofSocial, Science,Economics, and Management.1(3). pp.222-243. deRuyter, 2018. When nothing is what it seems: A digital marketing researchagenda.Australasian Marketing Journal (AMJ).26(3). pp.199-203. Hall, S., 2020.B2B digital marketing strategy: how to use new frameworks andmodels to achieve growth. Kogan Page Publishers. Industry, U. H.2020. An Introduction to the UK Hospitality Industry. Kim, K. H. and Moon, H., 2021. Innovative digital marketing management in B2Bmarkets.Industrial Marketing Management.95.pp.1-4. Kundu, S., 2021.Digital Marketing Trends and Prospects: Develop an effective DigitalMarketing strategy with SEO, SEM, PPC, Digital Display Ads & Email Marketingtechniques.(English Edition). Bpb Publications.