Join our free webinar on travel intelligence on October 24.
This may sound like an understatement, but identifying what makes a traveler tick, can make you stand out in today’s travel landscape. For instance: did you know that 88% of travelers recently indicated that they would switch to another provider if they weren’t satisfied with the experience of a travel brand?
Indeed, the travel sector is evolving relentlessly. It’s for travel sellers a must to meet their customers’ evolving demands. According to the World Travel and Tourism Council, last year alone, the travel industry expanded at a rate of 3.9%. Also, it contributed $8.8 trillion to the global economy – leading to the creation of 319 million jobs. A new record!
With such a high consumer churn, an in-depth market analysis is more valuable than ever. The good news: thanks to the key benefits provided by travel intelligence and data, travel providers can go above and beyond to meet their customers’ demands.
Show me the data!
Because the travel industry is booming, global travel providers are increasingly prone to experimenting with data. It is changing how travel is sold just like mobile is changing how it is searched.
Therefore, the travel brands that are most likely to succeed in this ever-changing environment are those that embrace innovation. Actors across the ecosystem will need bulletproof technological foundations to ensure they manage and process their customers’ data, extracting insights that allow them to deliver the personalized experiences that today’s travelers crave.
According to the latest McKinsey & Company survey results, companies with the greatest overall growth in revenue and earnings receive a significant proportion of that boost from data and analytics.
Ahead of the competition
For travel operators looking to grow their market share, data can be a key enabler to help them achieve the following:
- better track competitors’ moves and the market;
- visualize the entire spread of booking data: from travel inspiration to searches, booking, on-trip activities and post-trip;
- insight into the evolving popularity of travel destinations
However, the above won’t be of much use if it isn’t coupled with the right processes to quickly develop, test and put new ideas into action. Data analysis isn’t just outward-facing, it can truly transform operations for travel brands, indicating when it’s appropriate to automate complex manual tasks that reduce errors and increase productivity.
When it comes to operations, another blind spot for travel sellers is tied to contracts with content providers. Thanks to travel intelligence, it’s possible to keep an eye on daily revenue performance – linking it to contract performance.
For instance, Amadeus’ Agency Insight analyzes how supplier contracts are performing concerning competitors and to the market as a whole. It also provides actionable reporting on contracts against airline targets, so tour operators can take advantage of saving costs and maximizing revenues.
So, are you ready to grow your travel seller business? Amadeus invites you to join us for a webinar on travel intelligence on October 24th. Click here to sign up for free and find out more about what travel intelligence can do for your business!
Care to link up?Find Nina Suopanki on LinkedIn here.
Travel Intelligence Global Sales Manager Amadeus