What exactly is the reason for this sector’s boom in such a short span? Well, there are a number of reasons but the major one is its unique charm to the typical traveler. Vacation rentals are exceptionally different than the regular hotel establishments.
Just a decade ago, Netflix was known primarily as the disruptor of Blockbuster and pioneer of online subscriptions for specific products or services (in this case DVD delivery, but there were also shaving clubs, travel clubs and so on). Around 2007, Netflix decided to keep its subscription model but made the wise decision to transition from DVDs to streaming content.
Recent studies have confirmed that engaged employees create a better customer experience, strengthen their brand and are more productive. The study also revealed that companies with higher employee engagement levels have an edge over those in the industry with lower engagement levels and have 3.9 times more earnings per share than the latter. Your employees are your best advocates. Consider them as your spokespersons. If your company has 2000 employees, all of them can be the social networkers. So it makes sense to involve your employees in your brand. The travel clubs can offer an immersive experience to your company, customers, and employees, altogether. Your travel brand can profit from the travel club framework to create an additional level of employee-employer engagement. In order to achieve this, you need to turn your employees into ambassadors by incorporating these top practices – Profit sharing What is more motivating than giving cash? Offering your employees a share of your company’s profits. This is one of the best practices to motivate your employees to the bottom line. By letting your employees have a little skin in the game is a big win-win. If they will earn more, your company will do as well…
Member clubs such as the $9 Fare Club offered by Spirit Airlines or Amazon Prime can be an ingenious way for travel and non-travel brands to diversify their loyalty offerings and drive a different kind of added value than a traditional loyalty program might offer.
Vacation Rentals in the Sharing Economy… By 2021, vacation rentals are expected to be a $193 billion USD global market. Europe – with their “holiday villas” will generate the highest revenue and growth. But vacation rental owners, agencies and managers will need to focus on standing out – or face being reduced to merely supply inventory for Airbnb and Expedia. Vacation Rentals need to create real brand promise – and delivery on it. Curious to learn how you can add new revenue and enhance your vacation rental offering? Download our Vacation Rentals Report to learn more.
Resort Trades featured Custom Travel Solutions in their June Issue, where they wrap up the updates from the ARDA World event held in Las Vegas earlier in 2018. Excerpts from the text include: “Our goal?” he says. “…to help our customers build, deploy, and operate successful travel membership programs that increase retention, loyalty, and, ultimately, rev- enues.” The full post can be read here, on page 8.
This article first appeared in the June 2018 issue of Credit Union Business. One of the biggest challenges for credit unions today is their ability to drive awareness and engagement, including through their digital and mobile channels.
Hospitality Technology, a media and predictive intelligence resource exclusively dedicated to helping both hotel and restaurant operators featured Custom Travel Solutions’ Vacation Rentals Report that was officially released last week. The full post can be read here.
There’s no doubt that the sharing economy has changed the marketplace of accommodations, including where people stay, how they find new properties, what they expect from a property owner or management group and their expectations for a vacation rental website or app.
Brand relationships follow a simple law: the more you give, the more you get. That’s why consumers love loyalty programs – they get brand value beyond the price of the transaction, every time they spend. But many brands have been “giving” loyalty rewards and not seeing a return on investment. So what gives?