Travel & Hospitality
The travel industry is characterized by price competition, over-supply and an increasingly fragmented marketplace.
Success – whether for travel agents, tour operators, cruise operators, airlines, hotels or destinations – depends on understanding exactly what is happening at each step of the booking journey and why. With this knowledge, you can anticipate market developments and focus on the areas giving profitable growth.
Our travel industry research specialists give you that insight. We are the only ones who provide market and consumer insights based on live booking data across all silos in the travel market. This means that you get a more accurate and up-to-date understanding of what is selling today and the trends for tomorrow.
And because we monitor thousands of sales points, including shop, call center, web and mobile channels, we are entirely up to date with the changing consumer behavior and demand at every point along the booking journey.
With this combined view of what is happening and why, you can create successful strategies based on solid market data – from identifying market potential to developing a new destination or portfolio of products and tailoring services to match market demand.
For travel companies, we give you full understanding of consumers’ behavior and demand at each point along the booking journey, covering traditional as well as online channels. With this insight, you can shape differentiated and targeted offerings that can be offered directly to the travelers, resulting in increased margins.
For destinations and tourism boards, we provide detailed insights on how destinations are perceived by travelers. With this, we help you identify new strategic opportunities and specific ways to increase customer satisfaction, improve operations efficiency and create adaptable business processes.
For airlines and tour operators, we continuously monitor how many people are traveling to specific destinations. By combining this with our market and consumer trends insights, we highlight not only the most popular routes and destinations today, but also the new opportunities opening up for tomorrow.
Deeper Guest Knowledge through Effective Segmentation
Segmentation solutions help clients differentiate between customer segments based on their needs, attitudes, behaviors and demographics in ways useful for marketing.
Segmentation allows marketers to answer the following questions:
- What are my distinct guest segments? What are their needs, brand attitudes and behavior?
- How can I compare the characteristics of different segments to determine segment-specific actions?
- What is the profitability and channel usage of each of my guest segments?
Telecommunications can also be used to identify new segments of customers with needs distinct from existing customers- or to derive deeper insights into existing segments.
Analytical techniques like Recency, Frequency, and Monetary Value (RFM) Analysis (using guest history data) and Basket Analysis are used as starting points to assess customer lifetime value and help estimate the profitability and revenue potential of segments. Marketers use segmentation not only to attract guests, but to provide personalized service based on their needs and preferences.
Maximize Guest Value through Effective across Sell Strategies
Across selling is one of the quickest ways to deliver profitable growth. across-selling helps maximize guest value by effectively marketing additional products and services to customers. Profiles of common customer behavior patterns can be created through analysis of guest demographics, preferences and other significant variables. Then, by comparing new customers to these profiles, across-sell solutions can predict which guests are likely to follow the same paths.
- Analyze - Analyze Guest attributes, preferences, purchase
- Profile - Create profiles of common guest behavior patterns
- Predict - Compare new guests to these profiles to predict likely paths
- Target - Model, Prioritize, Personalize, Optimize, Interact
Across-sell solutions helps travel marketers answer questions such as:
- Which of my guest are good candidates for across-selling?
- Which products or services are most appropriate?
- What is the best time and channel to make an offer?
- How can I precisely target my across-sell offers to reduce the possibility of customer fatigue?