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Predictions from industry experts like Skift, Mckinsey and Phocuswire reveal that the travel industry will experience an unprecedented rise in the second quarter of 2021 and the years beyond.
The industry is expected to grow from 4.41% annually, leading to a projected market volume of $1,016.00bn by 2027.
If people are unwilling to travel, it is useless to speculate about the future of travel
Consumers are the biggest drivers of this change.
Change in consumer behavior and demands have evolved from traditional high street stores with in-person travel agents to a highly fragmented online marketplace”.Hannah Free, Travel and Tourism analyst, GlobalData
Their decisions are now more about personalization, convenience, security and pricing.
The likely momentum of the industry is a call for solutions that not only solve a problem but boost customer experience.
Speaking on the need to prioritise CX in the travel space, Sheshgiri Kamath – Co-Founder and CEO, Kapture CX, noted that “Loyalty and repeat customers are crucial for the growth of the travel sector.
As time passes, travelers may become less willing to lower their expectations and accept sub-per service under the guise of safety
The disparity between satisfaction and performance is heightened at this time. Ironically- There is a potential wave of dissatisfaction as companies struggle to create a holistic product that addresses consumers changing behavior.
Building a product that prioritizes the customer’s need and experience enables you to gain their loyalty, build resilience and become future-proof.
Wise investment in CX is fundamental to the industry’s survival and bloom in a post-pandemic world
5 Ways to get your customer experience right
- Outdo your competition: Beyond physical touch points create a genuine human connection.
If a customer complains about a dish or the wine immediately remove it and replace it, no questions askedCesar Ritz
2. Use customer insights faster and iterate journeys with customers: Real-time insight is only as impactful as its speed of use. When practices are prioritized, organizations are 4X more likely to be winners and become high performing in terms of speed quality and performance.
60% of companies only tested prototypes internally, rather than with customers
3. Develop a holistic toolkit that seamlessly tracks customer sentiment: while surveys continue to be useful forecasts into customer behaviors they are no longer enough, travel tech companies should now begin to look at internal and external data to understand their clientele.
Travel can no longer exist without its digital components
4. Empower the front line: The customer’s point of entry into your business are those on the frontline, their behavior determines who stays or leaves. Organize classes and create a reward system for a job well done.
Every employee is a brand ambassador and a client advocate across any business anywhereAntonia Hock
5. Ensure leadership remains empathetic
Focusing on CX creates a competitive advantage that drives customer retention, revenue expansion and enterprise valuation over timeGainsight
Here are 9 must-know for Travel Tech SaaS
1.Personalization: Personalization involves tailoring the customer experience to individual needs and preferences. Travel tech SaaS should leverage customer data to provide personalized recommendations and offers. For example, offering personalized hotel recommendations based on the customer’s past bookings and preferences.
2. Seamless booking process: A seamless booking process involves making the booking experience fast, user-friendly, and secure. This includes simplifying the booking form, ensuring the website or app is easy to navigate, and providing multiple payment options for customers to choose from.
3. Mobile optimization: With more travelers using their mobile devices to book travel, travel tech SaaS should ensure their platforms are optimized for mobile devices. This means designing the website or app to be responsive and easily accessible on smartphones and tablets.
4. Real-time customer support: Travel can be unpredictable, and travelers may require assistance at any time. Therefore, travel tech SaaS should provide real-time customer support through various channels such as chat, phone, and email. This includes having a 24/7 support team that can assist with booking issues, itinerary changes, and other travel-related queries.
5. Easy cancellations and refunds: Customers appreciate flexibility, and travel tech SaaS should make it easy for travelers to cancel their bookings and request refunds. This includes having a clear cancellation policy and refund process, as well as offering a hassle-free cancellation process.
6. Transparent pricing: Hidden fees and unexpected charges can cause frustration and erode customer trust. Therefore, travel tech SaaS should provide transparent pricing and clearly communicate any additional charges. This includes listing all fees and taxes upfront and avoiding hidden fees.
7. Social proof: Using customer reviews and ratings to build trust and credibility is the way to go, people will believe others who have tried your service over your claim sometimes. Travel tech SaaS should encourage customers to leave reviews and ratings after their travel experience. Positive reviews and ratings can help attract new customers, while negative feedback can help identify areas for improvement.
8. Loyalty programs: Loyalty programs are a great way to reward repeat bookings and loyal customers. Travel tech SaaS should consider offering loyalty programs that provide rewards such as discounts, exclusive offers, and upgrades. This helps improve customer retention and satisfaction.
9. Continuous improvement: Finally, travel tech SaaS should consistently strive to improve the customer experience. This involves regularly collecting customer feedback and conducting user testing to identify areas for improvement. This helps ensure that the platform remains user-friendly and meets the changing needs of travelers.