Travel Distributor: The importance of knowing the customer’s economic impact
Knowing our customers well is key to business. Listening to them, understanding what they’re asking for, what they are and aren’t buying from us, tailoring the product to their needs and identifying inefficiencies to optimise the business are all vital for survival.
By using new machine learning technologies, we can compare similar customers and identify the products offered, which ones are converted, and which ones aren’t being offered to other customers. All this technology helps optimise the product and get the most out of a travel distributor’s portfolio.
It’s also important to know the impact of each customer on the infrastructure. This way we can map out a good strategy. By knowing the number of availability requests, which ones are processed correctly and which ones have errors, we’ll discover the impact of each one on the technological infrastructure.
As we can see, having data is essential for knowing each customer in depth in order to make the best decisions in the business. Many tourist distributors often fall into the trap of thinking that the customer who buys the most is the one that brings the most profits to the business. This isn’t entirely true. Thanks to the analytical study of data, we can find out what type of actions should be carried out and check where mistakes are being made and where business opportunities are being lost. It’s paramount to realise the impact that each customer has on our infrastructure so that we can respond accordingly.
It’s a big mistake to keep on ignoring everything that this information can positively contribute to the whole business. If the goal is product enhancement and optimisation, data must be taken into account.
Knowing the challenges faced by the entire tourism industry is key to the development of the business. To find out how to respond and how not to be left behind in this industry, simply download our e-book, How to become a Smart Travel Distributor: The Future of Business Travel, and discover the keys to your growth.