We’re creating a more connected travel industry, underpinned by sustainability and long-term investor relations.
Travel Intelligence Global Sales Manager, Amadeus
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 88% of travelers recently said they would switch to another provider if they weren’t satisfied with the experience of a travel brand?
Indeed, the travel sector is constantly changing and for travel sellers to meet their customers’ demands and expectations, evolving is a must. According to the World Travel and Tourism Council, last year alone,the travel industry expanded at a rate of 3.9%- that’s above the average of GDP growth globally! It also contributed a record $8.8 trillion to the global economy leading to the creation of 319 million jobs.
With such high consumer churn, in-depth market analysis is more valuable than ever. Good news is, thanks to the key benefits provided by travel intelligence and more generally, data, travel providers can go above and beyond to meet their customers’ demands.
Because the travel industry is booming, travel providers worldwide are increasingly prone to experimenting with data as they know it holds the key to transforming their business. It is changing how travel is sold just like mobile is changing how it is searched and technology how it is managed.
Therefore, the travel brands most likely to succeed in this ever-changing environment are those that embrace innovation and more specifically, those who place a bet on future-proofing their systems to embrace this ‘new normal’. 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 and expect.
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.
For travel operators looking to grow its market share, data can be a key enabler helping them achieve the following:
However, the above won’t be of much use if it isn’t coupled with the right processes to quickly develop, test and action new ideas. 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 suiteanalyzes how supplier contracts are performing in relation to 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 freeand find out more about what travel intelligence can do for your business!