Even the most passionate travelers have competing priorities for their budgets — mortgages, insurance, education, retirement savings and a seemingly endless list of daily costs for living.
Yet new research by Wilde Agency reveals that incorporating Behavioral Economics strategies into communications can actually lift people’s overall spend within a market. These strategies can be applied to marketing within the travel and hospitality industry.
One particular Behavioral Economics principle known as Mental Accounting can get people saving and spending more on different types of travel.
Learn how to easily apply this concept and increase your ROI in the infographic below, designed by our Senior Art Director Sharon Martin.
ALSO READ – Why Behavioral Economics Is Integral To Prompting Action Among Boomers
The post [INFOGRAPHIC] How To Increase Travel & Dining Spend With Behavioral Economics appeared first on Wilde Agency.
