November 2009 Archives

Create your own Northern Lights

November 25, 2009


Here's a nice campaign from the Norway Tourist Board - Innovation Norway.

They have created a microsite to position the country as the best place to see the Northern Lights - or Aurora Borealis (for those in the know!)

You can get information on the phenomenon and the best places in Norway to see it, create your own Northern Lights and share it with friends via Twitter and Facebook.

Innovation Norway is calling it a 'viral' so let's help them get there.

Posted by Linda Fox

Post by Nathan Midgley on November 25, 2009 10:37AM

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The 'SuperTweet': If Twitter monetisation looks like this, are you in?

November 21, 2009

Robert Scoble has posted some thoughts on how Twitter's promised monetisation tools could work (worth reading the comment thread on that too).

Targeted advertising is at the heart of it, but the execution is non-interruptive and doesn't mess with the 140-character message format that we all know and many of us love.

I'm interested to hear from business owners and marketers on this. Do you see the value in it? Scoble's examples use big consumer brands - Amazon, Coke - and well-established online content brands - IMDB, Rotten Tomatoes.

The candidates in travel would be similar. Big operators and OTAs, review sites and travel guide brands all spring to mind.

Questions:

- Is there anything here for smaller businesses? Would it be a scalable programme with low barriers of entry, like Google AdWords, or are we looking at a small number of big Twitter-approved partnerships?

- Scoble's model uses 'a slide-down UI' - so unless I have misread, the commercial content of the SupertTweet is invisible by default. Will advertisers fancy that?

Post by Nathan Midgley on November 21, 2009 12:37PM

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WTM highlight #1 Priceline's Glenn Fogel on doing a deal

November 13, 2009


Priceline's Glenn Fogel was one of the highlights of World Travel Market in our humble opinion.

Not only has the guy got enough degrees to make anyone sit up and listen but he has also been instrumental in some significant online deals.

So, his session at the EyeforTravel GetFunded Show on 'Aquisitions and Exits' was insightful and pulled no punches.

Fogel's top tips for selling your company are:

1. Get a lawyer - to cut through everything from the capital structure, personnel issues such as no-hire/non-compete clauses and non-disclosure agreements (which Fogel hates by the way!)

In is own words: "If you think I'm going to talk to your customers about the deal then you shouldn't be talking to me about it because you don't trust me."

2. Projections - again, in his words: "You have to have projections that have some connection to reality." 

The mind boggles but clearly he is alluding to some creative accounting.To that he added to ensure projections are conservative enough so that during negotiations the company exceeds them rather than missing them!

3. Detail - be as detailed as possible to give the person confidence you have really thought about the sale.

4. Accounting - this one makes you wonder what kind of numbers people have pulled out of their hats and Fogel's concise advice was to consider what is reasonable and what is not.

Oh yes, and hire auditors early on but not your uncle! - "I will give you no money if don't know who your auditor is."

5. Revenue - another cause for nervous titters from the audience but suffice to say you have to show value not massive investment in online marketing. And, when you're thinking about what your company is worth you have to compare to a company like your own.

6. Exits - do you have to show profit? Here, Fogel cited companies such as ebookers and lastminute...

Also be clear about why you are selling - retiring is a good one but the company going to the wall, not so good.

"Always make sure the person who is selling is going to stay on and have a lot of skin in the game."

And, should you involve investment bankers in all this?  Perhaps, one of the best WTM quotes,

"If you've got $5m in profit and $50m in revenue an investment banker does not add a bit of value. He's more like a used-car salesman only more educated."

It all makes you wonder about the mindset of people selling their companies or perhaps just some of the ones Fogel has come across.

By Linda Fox


Post by Nathan Midgley on November 13, 2009 12:56PM

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2010 Innovation in Travel Award

November 12, 2009


Final call for entries to the Travel Weekly '2010 Innovation in Travel' Award. The award, sponsored by Cheapflights, is open to any company operating in or, from the UK.

The innovation can be technology related or commercial but they must be innovative and successful.

Entries will be judged on the innovation, its application and the impact by a panel of industry leaders.

Previous winners include Tripadvisor for its social media tools and British Airways for its iPhone flight booking application.

Go to www.globetravelawards.co.uk and click on Travel Innovation to download an entry form.

By Linda Fox

Post by Nathan Midgley on November 12, 2009 09:44AM

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