When it comes to search ads, Booking said it's 'observed a long-term trend of decreasing performance marketing returns on investment.'
on Wednesday that it saw an unanticipated increase in the cost of customers from Google, its largest source of traffic.Booking said that it's taking a "disciplined" approach to performance marketing spend, and has seen slowing growth across some of its channels, which include metasearch and travel research services.
"The short-term return on our brand spending is running below our expectations," Fogel said on the call. He added that the company will be "refining" spending in the second half of the year. "In terms of when do you say, oh, it's not working, let's stop doing it, I don't think that's ever going to happen," Fogel said. "I think brand advertising is always going to be important for anybody who's in the retail business. I do believe that we need to continue to work on this and improve upon it. And I'm looking forward to us doing that."
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