travel clubs

Why Banking and Financial Institutes Should Offer A Travel Club?

The banking and financial sector has seen a drastic change in the last decade. With the increase in competition, banking institutes need to walk an extra mile to get more leads. One of the best ways to do it is by including an exclusive travel club for its customers. By providing some of the best travel club benefits, your firm can also be a leader in the banking sector. Here are some thoughtful reasons why a banking institute should include a travel club:

It takes advantage of an emerging sector

Travel and tourism is one of the most rapidly growing industries in the world with a GDP of more than $7.6 trillion (source). This makes around 10% of the world’s total GDP. Therefore, by getting associated with an emerging economy, your bank will only be benefited in the long run. For instance, the banking institute can provide several travel benefits and loans for its customers and gain more profit from it.

It builds a niche in the market

Currently, there are only a handful of banking or financial institutes with a connected travel club. By building a travel club, you can provide various solutions under your name. This will create a distinctive appeal for your institute in the market and will provide an evident boost to your brand presence.

It will help you meet your targets

Just like every other domain, the banking sector is also getting pretty competitive these days. If you wish to meet your quarterly or yearly deadlines, then you need to come up with the kind of benefits that no one can resist. Since traveling appeals to everyone, it will let you reach out to your leads in an effortless manner.

While approaching new clients, you can simply let them know about the travel club membership that your firm is offering. Furthermore, you can run personalized plans and attractive starter packs for customers to get on-board. After all, no one can say no to free airport lounge access, exclusive discounts, daily offers, and more.

It leads to happy customers

It is a known fact that travel is the best kind of stress-buster. Not only your travel club platform would encourage your customers to plan their vacations more often, it will also lead to an overall customer satisfaction. In this way, you can retain your customers and make them your brand ambassadors.

By having your own travel club, you would be able to dive into the pool of subscription economy as well and provide all sorts of new-age services to your customers. This will certainly lead to customer satisfaction and fulfillment.

It can help you target millennials and senior citizens

Both millennials and senior citizens are quite keen towards traveling. For instance, it is expected that millennials will travel 35% more in 2017 (source). Additionally, there are lots of senior citizens who like to visit their children and grandchildren on a regular basis. These travel loyalty programs can help you acquire more leads related to millennials and senior citizens.

It provides a seamless integration with reward points

While joining any financial institute, most of the customers look for a flexible reward policy. If you have an in-house travel club, then your customers can readily use their reward points and earn free miles when they travel. This would be a win-win situation for everyone.

Custom Travel Solutions is an end-to-end B2B Travel Solutions Provider with over 100 years of combined experience in the Travel Industry domain. We offer a unique combination of specialized services including the most sophisticated travel technology, travel fulfillment services and user-friendly tools, travel benefits/private label travel club with integrated marketing and professional travel industry consulting services.