This
blog post was written by Julia Heighton, the organizer of EyeforTravel’s
flagship event TDS N. America 2016, taking place in Las Vegas on
October 6-7.
In times of global turmoil, the travel industry is often the
first to be adversely affected. With Brexit, talks of another recession and
unrest on a global level, there is plenty for travel brands to fear.
Fortunately, with uncertainty comes profound opportunities.
Innovation in the industry is booming and consumers in the US are more likely
to travel now than they were 10 years ago. Now is the time to ensure your brand
is positioned to effectively win these customers and take valuable market share
from your competitors, before they take it from you.
Here are 6 key areas travel brands should be focusing on to
stay ahead of the competition:
· Customer
experience – Gone
are the days when the quality of your product was the key differentiator
between you and your competitors. Now you are judged on the interaction your
customer has with your brand at every touchpoint. It’s absolutely crucial to
take advantage of the fast growing innovation in the industry and ensure you are
providing a consistent, seamless, user friendly experience at every stage of
the customer journey. True customer centricity starts with thinking what will
make your customer’s life easier, not your own.
·
Online
reputation – Word of mouth is now the most influential form of
marketing. Online reviews, social media posts and user-generated content are
fast growing and a huge opportunity for travel brands to use what their
customers are saying about them to further increase sales. Remember, even bad
reviews are a chance to engage with customers, show the human side of your
brand and hopefully turn a negative experience into a positive one which will result
in a loyal, repeat customer.
·
Partnerships - The changing world of ground
transportation, corporate travel, group travel and property management
companies means the travel ecosystem is becoming increasingly interconnected.
Forming partnerships with other travel brands is now crucial to exceed customer
expectations and cater to their needs throughout all stages of their trip.
·
Distribution – The cost of acquisition is
rising and the increasing amount of channels available is making your product’s
route to market extremely complex. Now is the time to develop a distribution
strategy which looks at the true value each channel brings to your business so
you can optimize the most profitable ones and cut those that aren’t delivering.
·
Revenue
Management – The
role of Revenue Managers is rapidly changing and the long-awaited innovation in
RM systems means this function is now a central force in aligning departments
and achieving the ultimate goal of increasing profits and driving growth.
Ensure these teams are equipped with the systems and talent to really drive
change and innovation throughout your organization and you will reap the
rewards.
·
Personalization – Treating your customers like
individuals and catering to their personal preferences is a huge opportunity to
increase engagement and drive loyalty. Investing in technology which will allow
you to easily interpret your data and turn it into actionable strategies is
crucial to deliver true personalization.
These might sound like good ideas and in an ideal world you
would execute them all tomorrow but what is actually a good starting point when
budgets and time are precious? At EyeforTravel we believe there is no better
way to stay ahead of industry trends and learn how to implement innovative
strategies than by meeting and benchmarking against your peers, which is why we
launched TDS N. America almost 20 years ago.
The only industry event where you won’t just hear from
strategy setting CEOs but executives who are doing the same job as you and share
your challenges and interests. With 60+ expert speakers sharing real-life case
studies and insights relating to the areas of opportunity we’ve outlined above,
TDS N. America 2016 is your platform to turn global uncertainty on its head and
deliver growth across your organization.
Download the event brochure now to find out how you can be a
part the most informative and useful industry conference taking place this year
- http://1.eyefortravel.com/LP=8156
