Launching new business ideas or adapting program designs in airline loyalty are only as viable as the underlying technology can support them. Too often, airline loyalty leaders face painfully long, resource-intensive, and costly systems customizations to get new ideas off the ground or integrate new partners into the ecosystem. The victims? Innovation, speed to market, and the ability to unlock a loyalty program´s full business potential. But there is another way.
Air cargo connects the world, and it has done so impressively well for decades. Yet, evolving customer expectations are accelerating the need for change in the industry. Technology is advancing at a fast pace in other sectors, which creates a precedent for air cargo that has been slow to adopt modern technologies. The industry´s continued reliance on legacy systems and architectures leaves a raft of benefits off the table.
Loyalty programs acquired superstar status during the pandemic, with many airlines selling miles to secure lifeline funding and alternative revenue streams. Ultimately, the objective is to acquire new members and steer them to the scheme´s everyday earn opportunities through the airline’s co-branded credit card or partner network.
As cruise lines begin to resume operations, they must develop new strategies to respond to the changing desires, expectations, and health requirements of travelers while being more responsive to regulatory changes. Future success depends on several market-driving capabilities, all enabled by a centralized digital platform and its tools.
With so many loyalty programs competing to be top of wallet, a strategic approach to creating a valuable currency is critical. Yet, airline loyalty programs don´t just compete against each other in this lucrative space. Often, unrelated credit card schemes offer their users more attractive benefits and have stronger currency value.
In rising to the challenges brought about by the pandemic, the oil and gas industry has responded with extraordinary resilience and responsiveness. With the impact of pandemic forecasted to continue for a more extended period, most upstream energy companies are now in constant pursuit for proven, sustainable, cost optimization strategies and best practices to reduce logistics cost per barrel without adversely affecting the efficiencies in the long run. For most supply chain functions, this calls for responding to the following challenges that need strategies beyond tactical cost reduction measures:
Digitization is the way forward for Airline Operations!
Airline experts hypothesize that technology adoption at airlines will leap forward in the aftermath of COVID-19. Around 70% of attendees from IBS Software’s VOPS’20 - Virtual Operations meetings with airlines across regions agreed that the time is right for large-scale transformations. These digitally-driven transformations will embed themselves into operations and drive long-term sustained efficiency.
Although contact centers are a critical part of airline customer experience, most operate as an extension to the core business today. Typically operated on some combination of rudimentary self-service features and outsourced agent-based call centers to reduce costs, these often lead to a disjointed customer experience for passengers.
In today’s digital world, personalization is omnipresent and customers expect every business to offer truly personalized services. Travel & hospitality businesses are no exception. Being predominantly experience-centric, travel and hospitality products, offer a broad range of personalization possibilities as compared to physical goods offered by the e-commerce world. If implemented accurately, personalization can deliver an excellent experience beyond the customers' expectations, delight them, drive loyalty, and, consequently, revenues, both in improving revenue share per customer and new revenue streams.