Some time ago, around two decades back, you needed to look for the services of a nearby travel agency to research and book a trip. These days, traveler have numerous alternatives accessible to them to help pick destinations, compare costs and reserve a spot independently and effortlessly. They are likewise investing a lot of time arranging travel, using both online and offline channels, in the weeks paving the way to a purchase.

Competition in the travel industry is high, and margins are low. Online travel agencies (OTAs) can’t work in the way they used to. What’s more, with the cost of travel continuously being driven around low-cost carriers, OTAs should be adaptable and agile to stay at the highest point of their game.

What’s interesting is the cost isn’t continually king in consumer purchasing choices. In fact, client encounter is the real differentiator. What’s more, the winners are those that can make, customize and guide a traveler’s journey – provide a high-quality customer experience throughout.

The variety of holiday add-on now accessible, such as holiday trips and car rental, means that OTAs can adequately remain nearby to the client all through the entire excursion and receive the money related benefits therefor. In the future, the big players may even enable travelers to order room service through their app or site while sitting in their hotel room.

The OTA collaboration isn’t just a one-time exchange; it’s a continuous relationship all through the traveler’s excursion. And that is where data becomes critical. Building a constant connection and gaining by the known preferences of the traveler can drive differentiation and build client loyalty.

Achieving this level of personalization and agility requires a shift in traditional business and marketing models. It means investing heavily in your technology stack, and having adaptable back-end systems and processes, to adapt rapidly to fast-changing client demands.

OTAs need to build up capacities in managing information for value to drive client experience. Artificial intelligence (AI) and machine learning will help drive value from data more efficiently, supporting personalization at each phase of the client journey.

As critical for supporting this level of personalization and client experience are flawless payment processes. Consumers’ expectations will proceed to develop and those travel businesses that can offer them an adaptable, quick and smooth payments experience, while having B2B payment processes set up to support it, are sure to gain market share. They ought to in this manner be making it a need to extend their payment alternatives in the front-end to drive conversion and improve client experience.

Furthermore, by having a universally accepted payment method such as VANs in the back-end, coordinating the payment demands of a worldwide client base is easier than ever. There indeed is no reason to pass up a significant opportunity for global revenue opportunities.

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