TravelDailyNews, the travel & tourism news portal for the international travel trade market has featured Custom Travel Solutions’ Travel Club Brief.
The full potential of loyalty programs wasn’t realized until 1980s. Today, they are everywhere in the customer-centric industry. But are loyalty efforts profitable? The answer is yes.
The top online travel agencies (OTAs) invest billions of dollars for one purpose – to get the right travel products to the right customers at the right time. Major OTAs like Expedia have been successful by creating multiple brands across different websites targeted to different audience segments.
Travel clubs are undoubtedly the new ‘it’ thing. If you are wondering why, just look into the range of services and features they offer to your business. As a member, you get access to insider deals, rewards, preferential rates, special promotions and more.
Brand engagement is the core of any travel business model. The end goal of travel club membership is to increase customer retention and enhance the lifetime value of your customers. It does so via its loyalty programs that enhance customer engagement and consequently increase repeat purchases.
What led the airline industry to introduce the original “frequent flyer program” (FFP) concept? Remember, this was long before retailers popularized the “loyalty program” concept.
Our CEO Mike Putman was recently featured in an article for CU Business, a leading resource for credit unions. The article discusses why credit unions will need to differentiate their value proposition in the eyes of existing and potential members, and how a branded travel club can help them do that – while adding revenue, strengthening loyalty and converting brand affinity into brand equity.
Loyalty can never be truly bought… but it can be earned or built through rich, rewarding customer experiences. The first step to fostering brand loyalty is to produce a solid base of repeat customers – brand loyalists – who are 67% more likely to spend than the new ones.
In the past ten years, services like Airbnb, Lyft and Uber have gone from being the cool/new “disruptors” to being the face of a new economy – a “sharing economy,” as it’s called.