Travel brands v the future: Three key takeaways from a roundtable with experts
Qubit and ContentSquare recently joined forces to hold a roundtable event for travel experts at the Haymarket Hotel, London.
The event provided a platform for discussion about the travel industry, as well as the opportunity to explore the future landscape in the digital age.
Many senior level professionals attended to address the top topics on many travel businesses’ radars. The event kicked off with networking, before leading into the main discussion.
There were a number of interesting themes that emerged throughout the evening, but there were three key topics that stood out:
Understanding the problem you’re trying to solve with a view around what the customer wants
When asked how the delegates and their teams approach what to prioritise and focus on, a common theme emerged: customer-centricity. By stripping back the problem and looking at what it is you’re doing and why, it becomes far easier to make decisions and focus on creating a positive customer experience. Additionally, it was agreed data-driven decisions tend to be used to identify business opportunities and predict future trends more easily.
How it’s becoming harder to convert new customers
Many of the travel experts expressed how difficult it is to attract and convert brand new customers. Much of their efforts are focused on identifying customers with value, it’s better to optimize on a customer that is already loyal to the brand. Customers who book twice (or more) are more profitable than first-time conversions, particularly when it’s difficult to track acquisition. When they’re coming from a third party source you’re unaware of when and where customers began their customer journey. The complexity of bookings also varies and can be dependant by country and city.
The value of creating squads to keep pace and focus
Having a clear structure in an organisation is vital if you’re striving for success. Many of the delegates agreed that using squads helped them visualise the end-to-end customer journey, identifying pain points throughout that journey, and keeping them customer-centric. Squads enable better organization, making each team member responsible for a particular step in the customer journey. Having a solid plan and process is important in travel, and they’re two things that affect the industry more than any other.
In an uncertain economy, the travel and tourism industry remains challenged to win over consumers. There are a number of ways brands can offer greater value, and this can be achieved by engaging customers through rewards schemes, meeting real-time demands during varying parts of the customer journey, and using personalization tactics to create a unique experience.
In our brand new travel guide, ‘Your passport to personalization’ we’ve identified key points in the customer funnel where strategies can be developed to impact top line revenue.