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The Sharing Economy’s Effect On Travel

The increase of IoT and the global economic downturn has become a fertile ground for ‘sharing economy’ in the travel sector. Most of the services or travel offerings are provided through sharing platforms between peers (P2P).

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Customization & Influencing Path to Purchase

If marketing has one goal, it is to optimize the customer journey and shape the path to purchase in a way that it influences their purchase decision. Nowadays, this is why most online travel marketers have started to offer targeted recommendations for those ready to buy. In the face of overwhelming customer choice, customization offers an opportunity for travel brands to differentiate themselves.

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Social Media Evolution in Travel Marketing

The limitless opportunities offered by social media has led to the emergence of new growth in the existing travel sector through the culmination of brand-advocating influencers, hashtag communities, and FOMO (fear of missing out). So what does this mean for your travel club or business?

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Why Your Travel Business Should Go Mobile

The travel industry has grown emphatically over the last decade and continues to do so at lightning speed, thanks in part to the growth of a mobile-friendly business. The numbers currently stand at $1.1 trillion in 2018 contributed to the gross domestic product in the US economy alone. (Source) This tectonic shift is one result of companies prioritizing mobile as the primary sales channel.

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Why Integration is Critical for Your Travel Booking Platform

With more technology integrated into our lives, your customers expect everything within arm’s reach via their devices. Their travel booking journey spans across multiple devices such as tablets, desktops, mobiles, laptops and more. It is critical for travel businesses to pursue omnichannel communication for providing seamless customer experience and maximizing sales.

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6 Ways Customization Increases Revenue & Loyalty

When a product or service is tailored to customers’ specific needs, it can be marketed effectively to generate loyalty in the long term. From designer handbag to hotel accommodation and even consumer goods, pretty much everything comes with a personal touch. Retailers are looking for ingenious ways to implement product customization for better conversion rates. A report by Infosys backs up the desire for customization and states that 59% of shoppers who experienced customization have significantly influenced what they purchased while 31% wished for a more personalized shopping experience. (Source)

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How to win customers and drive growth in the age of assistance

Today’s hyperconnected customers are glued to their devices. The need for constant connectivity is bringing some major cultural shifts along the way. Customers now expect to get what they want and brands who can offer the best assistance will certainly win.

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Powerful loyalty marketing strategies to outrank your competitors

Attracting and retaining customers is a continuous process but can be made easier thanks to the ever-growing technology and multi-faceted nature of loyalty programs. Last year, the travel industry accounted for direct spending of $2.7 billion a day which is roughly $31,400 a second, according to a report published by the US Travel Association. (Source) Take a look at this infographic generated by the U.S Travel Association to see the full economic impact of the travel industry.

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Tapping into loyalty data for smarter acquisitions

While implementing a loyalty program, retailers put the majority of their emphasis on cultivating current customer loyalty. However, expanding one’s customer base should not be overlooked. Fortunately, the digital age is all about data and marketers can inundate themselves with it. The challenge lies in using valuable data correctly and ultimately meet one’s business objectives.

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How the current digital revolution will ignite the travel industry

The future of travel technology looks very promising. New technologies like Artificial Intelligence, virtual reality, and machine learning are revolutionizing the travel industry landscape and loyalty programs are no exception. It’s high time to explore long-term strategies and new distribution models to drive engagement and reinvigorate your travel brand in this intensely evolving travel ecosystem.

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Why travelers find tiered loyalty programs attractive

Planning and implementing a loyalty program correctly is the key to customer satisfaction and long-term engagement. A loyalty program that inspires greater fidelity in the ranks of its members can effectively boost engagement. A new retail study confirms that customers who feel emotionally connected with the brands have approximately 306% higher lifetime value and will recommend the brand at a much higher rate (71%). (Source)

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How does a loyalty program increase measurable revenue and profit?

Implementing an effective loyalty program is the most powerful way of retaining customers considering the ephemeral nature of customer loyalty. The ideology behind a customer loyalty program is simple – encourage repeat purchases and increase revenue. Most travel marketers abide by this basic yet powerful strategy of having an effective loyalty program in place in order to reduce the customer churn and expand their market share consistently.

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5 Things Marketers Can Learn From Innovations in Travel

From booking tickets at the counter to booking with a click, digitization has permeated the travel sector to assist in arranging the perfect vacation from start to end. The technology and innovations in the travel industry within the last decade led to the emergence of global megatrends where apps have become indispensable. Here are 5 megatrends in the travel industry to pay attention to and apply going forward.

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Omnichannel Customer Loyalty – How to reach and support more customers

As the old lesson goes, it costs more to acquire new customers than to retain old ones. Increasing customer retention by just 5 percent can increase your business profits by 25 to 95%. (Source) So, it makes sense to engage your customers at every touchpoint of their journey for building customer loyalty in a thriving enterprise.

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Help your customers to fulfill their travel dreams
From Boomers to Gen-Z – travel club trends that sell and target across generations

For travel loyalty business to continue in 2019, travel platforms need to understand the motivations and mindsets of travelers across generations. From baby boomers to Generation X, Millennials to Generation Z, each has their own unique relationship with travel. For any travel platform to be able to sell to these demographics, it needs to understand each group’s travel aspirations before effectively serving these travel-smitten generations.

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Travel Loyalty Club
Travel Loyalty Clubs: Understanding Earning, Value, & Redemption

The ability to save up miles through a travel loyalty club is what gets millions of budget-conscious travelers enrolled in them. Many will admit that it is much easier to focus on saving for their next vacation when they receive points or earn miles every time they make a qualifying purchase. Being able to watch what their loyalty is going towards makes joining much more lucrative for a member However, there are still users tempted to join a loyalty club, only to find it fearfully complex. Blackout dates, tight restrictions or inability to understand their standing within the rewards platform may leave users wary of committing.

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Travel Club Loyalty Program
How to choose a travel loyalty program

A travel club or company’s loyalty rewards program is designed to foster closer relationships with their members. A successful loyalty program is based on the foundation of customers’ satisfaction; thus, companies seek more personalized engagement strategies based on individual needs. Before choosing an ideal customer loyalty program, here is a comprehensive checklist you can use to best evaluate how to get the most out of your selected program – Reward Usage – Does the reward program offer flexibility in usage? Or are its rules restrictive? No matter what type of rewards are promised to offer to lure the customers in, it is best to find out if those rewards are viable for your members travel goals.

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Ways to make the most of your travel rewards program
Ways to make the most of your travel rewards program – Shortcuts to loyalty

Most travelers count on loyalty programs to secure maximum benefits to get the most out of their travel. However, current loyalty and reward programs can be tough to rack up consistent points or miles if you are not familiar with the program. In fact, discount airline tickets or hotel stays actually begin to feel more elusive. Therefore, the first step is to become well acquainted with the ins and outs of the loyalty program and start collecting points or benefits like a pro. Here are the shortcuts to earn loyalty across travel reward programs you should know about –

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Top Loyalty Program Trends in 2019
Take Advantage Of These Top Loyalty Program Trends in 2019

There is no better time than now to take advantage of the ever so fruitful loyalty program arena. The last five years have been huge in evolution and trendsetting for the loyalty program market. We’ve looked at what’s coming down the pipeline in 2019 and have complied a list of the key trends to keep on eye on in 2019: • Incentives With Co-Branded Credit Cards – Co-branded credit cards continue to dominate the loyalty market in 2019.

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Travel perks for members
Travel Perks Beyond Frequent Flyer Points – Loyalty Program Member Benefits

Travel Perks Beyond Frequent Flyer Points – Loyalty Program Member Benefits The new age consumer’s attitude towards loyalty programs goes beyond points and miles. That’s largely due to the generational shift and growing clout to millennials who prioritize ‘rewarding experiences’ over frequent flyer points. This shift is backed up by research, finding that 78% of millennials prefer to spend on experiences rather than physical things. (Source)

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customer loyalty and retention
Engagement Driven Solutions to Increase Customer Loyalty and Retention

Getting a customer to develop lifetime loyalty is like hitting the jackpot in a loyalty program. Today more than ever, brands are focusing on repeat business as loyal customers keep the revenue flowing. A survey claims that loyal customers spend 67% more than new customers. In this fast-growing digital era, it is necessary to retrofit the traditional strategies of customer retention and employ engagement-driven solutions to keep the loyal customer base intact. Here are some of the best ways to increase customer loyalty and retention –

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Customer loyalty program to maximise retention
How to implement an innovative customer loyalty program to maximize retention

Loyalty programs are fast becoming the backbone of the retail marketing toolkit, aimed to increase revenue and maximize retention. Studies suggest that about 84% of customers like to stick to a brand offering a loyalty or reward program while 66% of those say that an innovative reward scheme influences their purchase behavior. (Source) Having a general loyalty program is not enough. Standing out in this world of choice requires more than just offering a good loyalty program. An innovative loyalty program implemented carefully while considering customers’ decision-making process has the ability to turn even a fickle fan into a loyal follower. So how do you implement a loyalty program effectively?

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AI in loyalty program
The future of AI in the making of a successful loyalty program

According to a Loyalty Census report of 2016, there are 3.8 billion members belonging to a loyalty program. (Source) With so many memberships, it becomes difficult to reach each and every customer through E-commerce. In such a challenging landscape, marketers can only rely on data and the use of artificial intelligence to boost brand affinity and conversion. The use of AI will not only transform member experience but also ensure that loyalty program delivers positive results for the brand. AI enables brands to create engaging experiences using deep learning which is just an advanced form of machine learning.

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Strategies for creating a creative loyalty program
Top Strategies For Creating A Creative Loyalty Program

Loyalty programs have witnessed a dramatic shift in recent years. They have evolved far beyond punch cards. For a vast majority of consumers, loyalty programs are a huge part of their shopping experience. While some will join to get exclusive discounts, others are simply loyal to get deeper and fuller discounts. Regardless, businesses that implement loyalty programs have to start coming up with new strategies to motivate ‘customer engagement’ and ‘brand advocacy.’ The key is to build a creative loyalty program that excites your target consumers. Here are the Top Customer Retention Strategies to mastering customer loyalty and creating brand advocates: Research Adequately Before implementing a loyalty program, do thorough research.

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Loyalty trends to implement
5 Loyalty Trends To Implement In 2019

In this age of endless choices, differentiation is paramount. In order to make your brand a success, you need a unique marketing plan. Retail marketing is no more a linear process. Some brands bank on a loyalty programs with heavy discounts and rewards, while others feel more comfortable building a connection with their existing customers and winning them over over time. Speaking of time, there is no better time to talk about upcoming loyalty trends than now. Let us take a look at the top upcoming customer loyalty trends: Incentivized Referrals Through ‘Word of Mouth’ Marketing Did you know that, “…only 29% of satisfied customers [will] refer your brand to others” (Source).

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Innovation shaping the digital loyalty market
How Innovation Shapes The Digital Loyalty Market

In this age of digitization, businesses are seeking a competitive edge to deliver a seamless experience. In a sea of game-changing tech tools, anything goes viral these days. It is crucial for marketers to keep a close eye on the new trends that could potentially change the digital landscape. Recent market research shows that by 2020, product and price will no longer be the key differentiators for brands, so much as customer experience! Customer experience directly impacts business growth and helps a brand stand out from the rest, especially since “42% of retail customers in the US won’t…shop again from a brand after two bad experiences” (Source).

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Evolve your business through customer retention
How A Travel Club Retains Customers & Evolves Your Business

What is the major difference between a company that continues to grow and a company that doesn’t? Customer Retention! While it is tempting to want to devout lots of your company’s resources to growing new business and attracting new customers, the key to success often rests on your company’s ability to champion customer satisfaction and customer retention. Investing in customer retention strategies makes customers happy, which can result in a greater ROI. Consider the following statistics: “Selling to an existing customer is 6-7 times cheaper” (Source).

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Increase your brand equity with loyalty travel club
Elevate Your Brand In Your Customer’s Eyes – How A Loyalty Travel Club Increases Brand Equity

To be frank, positive brand equity positively impacts customer loyalty! The perception that customers form about a brand is where the power of branding lies. Brands that put their attention and energy into how a customer perceives their brand are what will allow a brand to occupy a larger space in the market. As the story goes, the larger your brand gets, the more opinions and expectations will fall upon your brand. Is your travel brand ready to operate in a larger space?

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Improving Customer Acquisition Strategy With A Loyalty Travel Club

Did you know, that a business could save more money by investing in a loyalty program than prospecting for new customers? “Existing [loyal] customers are spending 67% more than new customers” (Source), and “it costs a business 5-25x more to acquire new customers than it does to sell or [create loyalty] to existing ones” (Source). Ergo, it is imperative to think about a customer correct acquisition strategy or plain and simple: Loyalty begets loyalty. Customer loyalty programs, like a travel club, pay for itself.

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Help your customers to fulfill their travel dreams
Keeping Your Best Customers Happy: Helping Them Fulfill Their Travel Dreams

Is it really enough that customers find your service appealing and price reasonable? The answer is no! What is the secret recipe for keeping your customers happy? What does a happy and satisfied customer look like? Satisfied customers are looking for an unforgettable experience and specialized services to fulfill their travel dreams. And loyalty is a whole different matter altogether. Customers today want the best deals, dynamic services and convenience while planning a journey.

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Loyalty Program for members
Launching a Loyalty Program is Easier than You Think

Loyalty programs can work wonders for your business without breaking the bank. Customer loyalty programs are a great way of adding value to customers and create long-term benefits for your business. For ages, loyalty programs have been nurturing the customer base for many businesses and keeping value-savvy customers engaged to earn repeat business. This is just the one piece of the big picture. Customers today are used to seeing rewards in various forms; the customer loyalty program is almost a necessity to stay ahead of the competition. All you need to figure out is what kind of incentive or reward program are you going to offer your customers.

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Virtual Currency Platform
Virtual Currency Platform

Custom Travel Solutions is proud to launch it’s new Virtual Currency/Rewards platform.  This has been in development for a little over a year, after two previous years of planning.  This platform is the culmination of over 100 years of travel experience, and understanding of what the market needs to fuel a successful travel eco-system. We built the framework very much open, where we can either utilize our own points bank or connect to our client’s reward system.  The platform contains an “earn” engine, as well as a “burn” engine.  In the middle we have and an FX function that allows us to reconcile to any currency, crypto or fiat.  Our FX function also allows our clients to create their own ratio for earning as well as burning. With our early launch partner, we are seeing significant conversion improvement, as well as, end consumer loyalty improvements. We would love the opportunity to show you how our new platform can help you with your loyalty strategy and improve overall revenue results.  

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THE PARTNERSHIP EFFECT – IMPROVING MEMBER ENGAGEMENT AND RETENTION
The Partnership Effect – Improving member engagement and retention

A winning membership engagement strategy starts with careful planning. While all engagement strategies aim for a long-term goal of higher retention rate, starting off with short-term goals is the key to build it. Members are the backbone of any loyalty club, particularly the membership-based travel club. The partnership marketing team is responsible for building, nurturing and managing relationships with the members to ensure their needs are met. When done right, it can be incredibly rewarding and add tremendous value to the members. That being said, what exactly is the need for engagement, you might wonder? Michael J. Brennan offers a simple equation to understand engagement Engagement = Relationship + Action By leveraging the engagement touchpoints, the partnership marketing team can invent new ways to bring value to the members/ merchant partners.

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Travel API's for Travel Club
The Travel Club Option for Travel APIs

What are Travel APIs, and more importantly, how can they help your business grow and increase revenue? This blog will take a deeper dive into Travel APIs and how Custom Travel Solutions uses them to build and grow branded travel clubs for non-travel brands and organizations. Using Travel APIs to Grow Revenue and Loyalty The topic of Travel APIs may seem remote for those outside the B2B travel sector who are not familiar with the evolution of travel technology.

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Travel Clubs for the Millennial Traveler
Event Recap: Recording of Our Webinar with Travel Massive

In case you missed it, we just did a webinar with Travel Massive, the world’s biggest tourism industry community on the topic of Packaged Trips for the Millennial Traveler. For any travel brand that wants to better understand their Millennial customers’ travel preferences and how to convert more travel sales and drive loyalty among this demographic, a recording of the webinar can be found here – Packaged Trips for the Millennial Traveler. A huge thanks to Travel Massive for arranging the webinar and the Travel Massive community members who attended the discussion.

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Virtual Currency Rewards platform
Can a travel club improve loyalty for retail businesses?

Nurturing a loyal customer base will help your retail business to grow by boosting both revenue and profitability, given the fact that repeat consumers are likely to spend 60% more per transaction than the new ones. Obviously, this is easier said than done.

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Travel club for the millennial traveler
Travel Clubs for the Millennial Traveler : Join our Webinar with Travel Massive on 10/3

Custom Travel Solutions is partnering with Travel Massive, the world’s biggest tourism industry community, for a webinar on the topic of “Packaged Trips for the Millennial Traveler.” Are you interested in increasing revenue and loyalty for your travel brand? Click the link below and register to attend the webinar – if travel is your business, you won’t be disappointed. 

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Successful travel club
Successful Travel Club Examples

So the question arises – why travel clubs? The answer is simple. They are the future of the tourism industry, without a doubt. The stats and figures forecasted this fact and current trends have supported it.

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Member Engagement Marketing
Private Label Travel Clubs for Member Engagement Marketing

The ability to attract, acquire, engage and retain customers is key to any business, but especially those with a subscription-based business model. Subscription businesses may include co-brand credit cards, retail member clubs, timeshare destination clubs and other membership-based organizations such as employee groups and credit unions.

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Building your member engagement
Building member engagement with Travel Clubs

The travel industry is the one of the world’s largest, contributing over $7.6 trillion to the global economy in 2014. To tap this immense revenue opportunity, travel brands need to engage their customers effectively.

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Financial Services and Travel Clubs
Strengthening Travel Offerings for Financial Services

The importance of financial services to the travel industry cannot be overstated. Commercial and co-brand credit cards have helped both the travel suppliers (airlines, hotels), card companies (Visa, Amex), and issuing banks segment their common customers and understand consumer spending habits.

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Relevant API's for your business
How to Ensure Travel APIs Drive Everlasting Organizational Value

API (Application Programming Interface) is a set of functions that are used to access certain applications. Therefore, a travel API features various kinds of travel deals, details, and services that can be accessed by third-party vendors.

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Travel Clubs for Media & Publishing Companies
Travel Clubs for Media & Publishing Companies

There is a growing need  for media and publishing companies  to find new   models  of  customer acquisition, retention and loyalty  for  the digital age.  Content   publishers and media managers  can tap into the “sharing economy ” and use value-adds, such as a  subscription  travel club, to add value to their own subscriptions and  turn more  lookers into subscribers, and subscribers into  loyal  customers. 

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Travel Clubs for Sport Tourists
The Benefits of Travel Clubs for Sport Tourists

The sport tourism industry serves a growing segment of consumers who travel for competitive sporting events (NASCAR, FIFA World Cup, NFL) and other sport-related attractions such as hall-of-fame museums, as well as for active sport tourism such as hiking, skiing and canoeing.

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Travel API's for Travel Club
The Travel Club Option for Travel APIs

What are Travel APIs, and more importantly, how can they help your business grow and increase revenue? This blog will take a deeper dive into Travel APIs and how Custom Travel Solutions uses them to build and grow branded travel clubs for non-travel brands and organizations.

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Travel Clubs and Loyalty Programs
Enhancing Retail Loyalty with Travel Clubs-as-a-Service

Have you ever asked yourself: What is a loyalty program? It seems like a simple question – after all, we all probably belong to at least one loyalty program, whether it takes the form of a frequent flyer program, co-brand credit card, member club or travel club (this last one, travel clubs, happen to be our specialty and you can learn more here).

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travel and lifestyle benefits
What are the travel and lifestyle benefits that resonate with retail customers?

Consumers like doing price checks, performing price comparisons, and comparing deals before finally hitting the ‘buy’ button. Thanks to promotional aggregators and daily deals, that process is easier than ever.