Short talk by Mark Simpson on how major online travel agencies (OTAs) like Airbnb, Booking.com, and Vrbo concentrate on 'trust marketing' to influence and 'control' guests' booking choices. Because OTAs don't own properties or managing companies, they monetize and maintain market power by building trust so guests prefer booking through the platform even at higher prices.
You know, Airbnb, booking.com, vrbo, they're big brands, okay? They spend multi million pounds dollars, euros on one thing. Trust marketing. Okay? That's what they know. Because if you look at an ota, they don't control the property, okay? And they don't control the company who lists the property. But what they do know and what they do want to control is the guest. And the way to control the guest is through trust. So it's like, oh, no, I'm not going to book with you direct. I'd prefer to pay a little bit more. And bookfreebooking.com because trust has a value.
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