Call the plumber: How much does your in-trip revenue leak?

With the meteoric rise of digital innovation across the tourism industry the question must be asked – What is your business doing to take advantage of these new opportunities and trends? Where are you losing money due to missed opportunities in the new era of travel?

Remain competitive

In the coming years as mobile adoption rates increase and global connectivity becomes an expectation, more people will be using mobile devices as the primary tool when researching, planning and booking in-trip inclusions. This is especially relevant while on the go and for last-minute bookings. Not having a mobile experience for these existing customers looking to spend additional money in-destination will inevitably lead to them making their purchases elsewhere.

Own the journey

The importance of incorporating a mobile strategy cannot be underestimated. The future of memorable customer experience lies in engaging with the traveler throughout their journey rather than focusing on the initial booking experience alone. If your business relies on simply the initial purchase, the opportunity cost of new revenue streams and increased brand loyalty is exponential as market share is surrendered to your immediate competitors.

What can be done to stop the leak? Streamline the customer experience and make their journey your value chain. Engaging with consumers throughout their life cycle is an opportunity to own the relationship and deliver services beyond expectations. Creating an ecosystem that supports additional purchases beyond original bookings will unlock new markets, new revenue streams and prized insights into consumer preferences. It is no longer viable to ignore these value chains that otherwise leak to external sales agents and competitors to prey on your customer base. Delivering complementary services will directly correlate to increased customer satisfaction as they make easier, more informed decisions through a trusted source.

Customer Centricity

As a traveler, there are plenty of additional purchases outside of core products that you must budget for during a trip. In the past this was left to self-organize by individuals as ancillary products were not online and legacy systems did not allow for such personalised purchasing decisions. In the era of digital transformation however, this is no longer the case as products can now be offered in a customer facing solution allowing for self-service with live availability via a mobile device. Going one step further with personalization based on preferences, location, budget and timeframe will make offers hyper relevant with better conversion based on awareness, convenience and accessibility. Over time this platform will evolve and adapt to change as it progresses towards the goal of ‘frictionless travel’. This means understanding your customers like never before and using data to deliver the right experience at the right moment throughout their trip.

The tools at hand

Smartphones are the key to unlocking engagement in the modern world of in-trip marketing. The secret to creating memorable experiences lies in adding value where it matters most via the right technology. As a facilitator of this new age customer experience, the benefits from the greater travel ecosystem will flow back to the core business and ensure it remains dominant in an increasingly competitive, disrupted and crowded industry. Stop the leak, be proactive to change and create memorable customer experiences throughout the product life cycle. As the old saying goes – the whole is greater than the sum of its parts.

Author: Adam Vandermeer

Digital Tourism Strategist