The phrase "knowledge is power" is very appropriate in today’s travel industry. In a time where Big Data rules the roost, businesses operating online, especially travel agents, need to use the information available to them to obtain valuable insights into their customers and the ever-changing trends shaping the market if they want to succeed online.
Harnessing this information is crucial for staying ahead of the competition. Travel businesses of all shapes and sizes can leverage Big Data for a number of purposes, including personalizing the customer experience with tailored offers, competitive differentiation and even predicting what their customers will want in the future. Regardless of the challenges it brings, Big Data is here to stay and it’s driving the evolution of the travel industry like never before.
Unfortunately, it is a challenging process to effectively manage the high quantity of data generated in the travel industry, as it comes from a multitude of sources at an increasingly high rate. Not to mention that many travel businesses still lack the skills and understanding necessary to leverage the data that’s available to them.
Well, there’s good news. Analysing your website data doesn’t have to be a daunting process. With the right tools at your disposal you can easily analyse large pools of data to gain useful insights into your customers and increase your revenue.
Here are 5 benefits of leveraging data on your travel website:
One of the major improvements you can bring to your travel website using Big Data is personalisation. By harnessing the information found in the analysis of social media pages for instance, you can bring a more focused and responsive approach aimed at satisfying your customers’ preferences. Targeting your customers more effectively with products and services tailored to their preferences can ultimately increase customer loyalty over time, helping to improve your business.
Consumers are more vocal than ever before online and this opens up a huge window of opportunity for travel brands. Today’s travellers are curating and gathering content online in the form of reviews, ratings and recommendations. Through using these, brands can strongly influence other potential customers who regularly view digital media. Consumers have also become so powerful, that they even have the ability to enhance a brand’s reputation online.
Improved pricing strategies
A smart pricing strategy is fundamental on your travel website, and for many travellers pricing is the single most important consideration when booking a holiday online. When analysing Big Data, businesses can gather and analyse existing and real time data from a variety of sources. It’s also a good idea to view competitors’ pricing strategies to plan your own. Analysing Big Data will also enable your business to predict changes in pricing strategies over time, allowing you to alter your tactics accordingly to meet consumer demand.
Healthier customer service
It’s important for any online travel business to be providing excellent levels of customer service. Online forums, social media platforms, phone conversations are all forms of data waiting to be used to determine the intent of your customers and build a better service strategy. Analysing and tracking customer feedback will also give your business valuable insight into future offerings for your customers in the near future.
Targeted marketing and sales
The ever-increasing level of competition within the online travel industry is pressuring travel businesses to use more targeted marketing. The data gathered through travel websites can be used to optimise marketing strategies to target customers with tailored products at the right moment, location and device.
Even though Big Data is only at its early stages of development in the travel industry, it’s a goldmine of information with endless possibilities, and those who take advantage of its potential, will be sure to prosper online.
Talk to the experts
If you want to take advantage of Big Data on your travel website, Digital Trip are here to help. Our market-leading travel technology platform includes powerful reporting tools, perfect for gaining the key insights from your business data that enable you to effectively market to your customers. With our smart feature, you can quickly and easily analyse sales, find unique customer insights, discover popular destinations, searches and products and so much more.