What is relevancy?
Relevancy is best explained as the ability to produce ‘the right offer at the right time to the right person’. This is probably the single most important strategy that a travel agency should implement in order to thrive in the travel industry. As rightly said, ‘The revolution lies in the pursuit, as only the relevant not only survive, but thrive’ which makes Relevancy the most valuable currency of today’s travel technologies.
What difficulties do today’s travel agencies face?
- Even in 2016, a few travel agencies fail to understand that customer service still matters the most. Customers are ready to share personal information because a novel travel experience is still what they want the most and experts still have a lot to offer that self-service tools don’t.
- Data is everything and without data there can be no relevancy. It is the interpretation of countless transactions and behaviours however it cannot be the best it can be without centralization.
- About 95% of data remains untapped within organizations, both large and small alike.
- About 39% of marketers believe that data is not collected in real-time or infrequently and is often outdated.
- 39% of marketers say they are unable to convert data into actionable insights.
- About 26% of organizations fail to use real-time data and on-site behaviour to personalize their services and increase their bottom lines.
- About 40% of organizations do not target any personal segments, which is a big surprise considering this segment can produce huge profits.
- About 28% of marketers are completely unaware of which are high profitable segments and which ones to focus on.
What organizations can do to offer more relevancy?
- By performing analysis of relevancy and offering these three things:
- The relevancy must be timely.
- The relevancy must be accurate.
- The relevancy must be flexible.
- By becoming competent in analysing and integrating data.
- By understanding how our travellers behave. It’s not always about doing something cool but about providing the right service to the customer.
What do you think about this new currency of the travel technology? We would love to hear your thoughts. Please drop your comments in the comments section below and connect with us on Facebook, Twitter, Google+ and Linkedin.