No wonder that Internet has transformed the way that the travel industry operates. However, the travel sector is currently entering a new epoch of huge disruption, where new technologies are reshaping travel distribution. Therefore, it is crucial for the companies to create opportunity in the face of these new challenges. Even more, it is critical that they identify these opportunities before rivals.
‘Getting ready for the future of travel distribution’ is a new manual published by Datumize that describes how all players in the travel sector can formulate an agile response to new technological developments. By identifying the main drivers of industry revolution, new trends, and strategies for improvement, this guide advises executives on where to concentrate investment to maximize return. Below, we’ll run through some key points covered in the publication.
The keys to industry evolution
An important step towards strategic development is to identify what is changing the travel industry and how. With a thorough understanding of these factors, companies can predict how they will change the things to come. In this guide, we’ll discuss how the following new trends are shaping the sector:
- Heightened customer expectations
- Mobile capabilities
- Big data and AI
- Industry regulations and gatekeepers
- Sharing economies
- Geopolitical influences
How to harness trends and drive growth
Based on the disruptors discussed, this manual breaks down the key ways businesses can exploit these challenges to drive growth. Based on the recent research report published by the London School of Economics, this guide summarizes how companies can leverage the following :
- Customer analytics that promote personalization
- Harnessing big data to develop pricing strategy
- How collaborations with the tech industry can generate value
- Preparing for the arrival of mega meta-OTAs
This guide also details valuable case studies from industry leaders. These include an in-depth discussion of Lufthansa’s recent research into blockchain technology; airline integration with messaging apps; and Ryanair CEO Kenny Jacobs’ thoughts on what the travel industry can learn from Google.
The travel industry is a pivotal moment. Make sure your organization is prepared
Technological innovation is transforming the travel industry. As a result, the sector is on the brink of a pivotal moment, which is arguably as significant as the dawn of the Internet. These technologies, including big data, machine learning, and mobile devices are raising customer expectations and substantially modifying behavior. Regardless of location, time, or platform, consumers expect frictionless and instantaneous service. As a result, companies need to ensure they have the capabilities to deliver these demands.
The customer is more empowered than ever. With instant access to a multitude of products and services, including everything from flights, hotels, restaurants, and car rentals, it is critical for the companies to meet their requirements on their terms. Pricing structures have to be transparent, communications must be personalized, and organizations must focus entirely on delivering a superior customer experience. To meet these aims, businesses need comprehensive access to timely and detailed customer insights. With this intelligence, they can design exceptional customer service a consumer of today demands. Once these needs are met, the return will follow. Find out how with our guide – available to download here.