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.
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.
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.
Vacation Rentals in the Sharing Economy… By 2021, vacation rentals are expected to be a $193 billion USD global market. Europe – with their “holiday villas” will generate the highest revenue and growth. But vacation rental owners, agencies and managers will need to focus on standing out – or face being reduced to merely supply inventory for Airbnb and Expedia. Vacation Rentals need to create real brand promise – and delivery on it. Curious to learn how you can add new revenue and enhance your vacation rental offering? Download our Vacation Rentals Report to learn more.
This article first appeared in the June 2018 issue of Credit Union Business. One of the biggest challenges for credit unions today is their ability to drive awareness and engagement, including through their digital and mobile channels.
Introducing the Travel Club… … in a 37-second video. One of the biggest challenges for any organization is keeping customers happy and loyal. Consumers want added value above and beyond what they buy or pay for. And few things have proven as appealing to consumers as offering a travel club. With a travel club, your brand or organization can add new revenue from membership fees, strengthen loyalty, and ultimately, convert brand affinity into brand equity. Curious to learn more and understand how it can apply to your business? Download our Travel Club report to learn more.
Those in travel businesses do realize that travel is an expensive and exotic commodity. A regular travel marketer will sell people air tickets or vacation packages, whereas travel clubs sell them dreams, adventure, experience, and memories.
The top online travel agencies (OTAs) invest billions of dollars for one purpose – to get the right travel products to the right customers at the right time. Major OTAs like Expedia have been successful by creating multiple brands across different websites targeted to different audience segments.
Many would argue that American Express and other card companies are really travel and lifestyle clubs at heart. Why would consumers pay hundreds of dollars in annual fees to use an Amex Platinum card, or thousands of dollars to use an Amex Centurion?
Travel clubs help drive customer acquisition, new revenue streams, stronger loyalty and more brand equity.