Munich, 2013/09/25 – The European Society for Opinion and Marketing Research (ESOMAR) organises an annual competition to find the world's most effective market research project. 2013 has seen the coveted 'ESOMAR Research Effectiveness Award' presented to a joint project conducted by Vocatus and L'TUR.
"Smart, paradoxical, yet extremely effective," was the jury's unanimous verdict when assessing the joint project conducted by Vocatus and L'TUR. The Munich-based market research institute and the European market leader for last-minute travel were joint winners of the prestigious ESOMAR Research Effectiveness Award on 25 September 2013 in Istanbul. This prize recognises market research projects that significantly increase a company's profits whilst achieving an extraordinarily high return on investment.
Against all reason: behavioural economics pays off
This is precisely what Vocatus and L'TUR succeeded in doing with an unusual marketing strategy which exploits consumers' seemingly irrational decisions by applying insights derived from behavioural economics. Successfully too, as the outcome demonstrates: the joint project led to a considerably increased conversion rate (+70 percent), a stronger positioning amid the competition, together with much more efficient product management.
It was just one year ago that Vocatus won the ESOMAR Research Effectiveness Award for a pricing study conducted in conjunction with the Frankfurter Allgemeine Zeitung.
ESOMAR (European Society for Opinion and Marketing Research) is an international organisation of market research institutes whose goal is to promote market and opinion research throughout the world in order to improve decision-making in companies and society at large. The organisation has around 4900 members in over 130 countries.
L'TUR is Europe's market leader for last minute travel; it had 832,000 customers in 2009, and a turnover of 360 million euros. TUI Travel PLC has a 70% stake in L'TUR, whilst L'TUR founder Karlheinz Kögel holds 30%. Last minute travel can be booked until just a few hours before departure, and can be up to 50% cheaper than in the brochure. More than two million offers of around 10,000 hotels and 130 airlines such as Lufthansa, TUIfly, Condor, Air Berlin, and Germanwings are available every day. L'TUR is the official travel partner of the DeutschlandCard bonus scheme. Travel can be booked in 169 L'TUR shops, by phone (00 800/21 21 21 00), and by going to www.ltur.com.