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July 26, 2004
TripHub: Investing and Testing
While large companies spend millions on market research, smart entrepreneurs like Josh Herst are using the Internet to test new ideas and offerings for very little money.
Josh has some ideas about group travel and is implementing it over at Trip Hub. Buying ad words at google and having fulfillment via a travel agency, he's learning quite a lot from a small experiemnt.
Posted by rich at July 26, 2004 09:36 PM
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It's been a while since the original post above, but thought I'd follow up with an update... The early research and learning Rich referred to was instrumental in designing the group travel and event planning services now available at http://www.triphub.com and, through a co-branding relationship, on Alaska Airlines Web site at http://alaska.triphub.com. The insights we gained in speaking with our first couple hundred customers helped to shape our understanding of the group travel market and, in particular, how to address the needs of group trip organizers.
Posted by: Josh
at March 8, 2006 09:58 AM
To add a little color...
- Who are TripHub Group Travel's customers?
- What products and services do they want?
- How much are they willing to spend?
- What messages are most effective at attracting new customers?
- Which online ad networks offer the most cost-efficient customer acquisition channels?
- What does it cost to acquire a customer?
In one month, TripHub, http://www.triphub.com , has generated directional answers to all of these questions and more while spending very little on marketing. This data is tremendously valuable in evaluating new business opportunities and developing informed product and marketing plans.
In the online world, it's cheap and easy to test. That is, to talk and listen to your customers, they'll tell you what you need to know.
Posted by: Josh at August 3, 2004 08:58 AM
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