Want to know how to grow an online travel business? Then take a look at Priceline.
Two things to note: Its online advertising strategies are exceptionally aggressive yet disciplined, and 90% of the company's gross revenue is made outside its home market of the United States.
Combine them and you've got a gross profit of more than USD2 million a day. That adds up to a USD2 billion gross profit for the third quarter, 42% up over the previous year.
By some weird coincidence – or may be not – Priceline's online ad spend across all brands also grew 42% for the period. And how much did they spend online – most of it with Google AdWords – during the quarter? The answer is USD533 million, up from USD375 million the year before. Offline ad spend grew even quicker – almost 500% – but from a much lower base: US8.4 million to USD40 million.
Priceline spends US$ 533 million on Google AdWords in Q3 alone
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