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With the average company investment into digital transformation increasing 148% in 2020 your competitors are racing to disrupt your business. Can you afford to be left behind?
Thanks to the dawn of the digital era, most industries are forecasted for timely disruption from new competitors. But it's the travel industry which is forecasted for its own brand of turbulence. And with a variety of different travel companies collected under the umbrella of the industry, the digital transformation on the cards is by no means a simple affair. And that’s where we come in.
Nevertheless, across the entire industry, the focus is on the basic principle of a technological overhaul: ensuring your business remains compliant with the customer. Keeping up with their changing demands - and monitoring how they change, too, from face-to-face interactions to social media - is key to ensuring you stay up-to-date with your competition.
Modernising and re-defining relevancy is the future of this industry.
There’s two sides to every story - and this particular tale starts with streamlining operations in the industry. Of course, this begins with ensuring the entire team is informed regarding the need to be customer-centric, but fundamental to the technological overhaul for this industry is the need to compete. Our travel consulting services can provide this.
Central to this is unlocking new avenues for revenue and growth in order to keep competitive in a readily disrupted industry.
With market pressures and risks threatening the industry - especially that of aviation - ensuring supplier negotiations are secured is vital. Aviation in particular requires niche support thanks to price transparency, deregulation, and fuel prices which have amped up competition among airlines.
Plus, with customer expectations pushing down on the accelerator, too, fast-paced change is now the norm.
The customer is always right - and they take the spotlight here, too. Each move made by the travel industry focuses on the customer, re-orientating itself to stay relevant and competitive regarding prices and services. And it starts with customer loyalty.
Question is, how can one guarantee this?
AI is the first cog in the process, ensuring that fine-tuning both the services on offer and the content directing customers towards the business is working like a well-oiled money-making machine whilst overcoming various business challenges.
This streamlining is further served by the re-branding needed to confirm to customers that you are officially on-trend. Aligning with their needs is the message you need to put out, and can only be assured by your customer satisfaction.
As travel industry consultants, we can provide the travel plans.
Director of Technology, Simply Brands
The travel industry might appear a complicated array of businesses, but amongst the hospitality and aviation services is the core principles of a digital transformation shared by other industries: the focus is on the customer. Each service is directed to the customers’ demands, so it's suffice to say that meeting this is a necessity for survival.
For those with an ear to the ground, this process is also known as a Digital Transformation. A Digital Transformation rethinks how you manage your employees, your clients’ and business’ data, and how you carry out your business operations. Or, in simple terms, a DT is the technological revamp your business needs to stay competitive.
Airlines, for example, will have to follow a course directed at unlocking untapped revenue and sourcing new ways to adapt to changes in the market.
Businesses involved in hospitality more generally, on the other hand, will have to focus their attention on their brand, putting customer experience that is powered by data-driven insights and met with AI at the top of their to-do list. New platforms to connect with the customer are to dominate the industry in its entirety.
There might be no simple answers, but the core principle of the industry is anchored ever-still: the customer is always right.
DIGITALISE WITH DATA-DRIVEN INSIGHTS
If only there was a way to work out what your customers want, and when they want it. There is? Harness the power of data-driven insights to detect their desires, and meet them.
BRING YOUR CUSTOMER INTO THE CLOUD
Your business needs to align with your customers needs, whether rain or shine. And with cloud computing within your grasp, this has never been easier.
ENSURE CUSTOMER EXPERIENCE VIA EMPLOYEES
The cloud isn’t the only way to connect with your customers’ specific needs; ensure each member of your team is attuned to analysing and providing the personal experience they expect.
RE-BRAND WITH YOUR CUSTOMER IN MIND
‘Engagement’ might be the buzzword here, but ‘inspiration’ doesn’t fall too far behind, either. By ensuring your workforce, customers and your brand are directed towards inspiration, your brand can put experience first.
COLLABORATE ACROSS THE WHOLE TEAM
Customer is king - and collaboration is, too. String together the entire business and ensure your employees are also harnessing the power of data-driven insights to engage with the customer experience.
RE-DEFINE VIA RETAIL
Seeking new solutions for customer engagement starts with walking in their shoes - but seeing things from the retail industry? That's how you can bring together tech, people and operations with a monetary focus.
TAKE THINGS TECHNOLOGICAL WITH EVERY EMPLOYEE
Daring to go digital doesn’t extend as far as downloading that software for this department. By ensuring each member of the team has sufficient digitalisation, communication and collaboration can streamline the entire business.
ADAPT TO SURVIVE
Digitalisation goes much further than matching an innovation put forward by a rival business. By maintaining a constant flow of innovation, adapting to new challenges and changes has never been more simple.
MEET AIRLINES’ SPECIFIC NEEDS
These solutions might seem rather generic, but specific ideas for the aviation industry are also required: tailoring operational improvements, debt restructuring, and cash management are just a few of the solutions in-store.
+ What is the travel sector?
This includes companies that provide transportation and cater to the travellers' needs. Rather than the tourism industry, however, it simply concerns the travel of a person from one place to another.
+ Is the travel sector growing?
Prior to the Covid-19 pandemic, the travel sector was on course for growth as the fastest growing sector in the UK. The severe fall in demand as a result of Coronavirus, however, has led to high levels of job losses and a predicted decline in the future.
+ What is the future of the travel industry?
Despite the current uncertainty faced by the sector, the number of tourists is set to soar year upon year, confirming that the industry will not suffer for long. It will continue its trajectory of technology-driven tourism and travel that will quite literally go out of this world.
+ What are the trends in the travel industry?
The trends specifically anticipated by the travel sector include the Internet of Things for interconnectivity between passenger and travel company devices, recognition technology for a more seamless passenger experience, virtual reality for the ultimate customer service, and robotics and AI to provide a technological helping hand.
+ How is technology changing the transport industry?
So far, technology has reshaped the entire travel sector in a number of ways which put customer experience first. This includes the rise of the mobile phone as a map, travel agency, and helping hand as we navigate the globe, AR and VR which shows tourists each corner of the planet before they even leave their houses, and IoT which can personalise the experience even further.
Taking things technological might seem a challenging feat set to bring turbulence to your business, but with Lolly Co at every step of the way, navigating the uncharted territory need not detract from your business. In fact, with our tech-team assessing your business’ exact needs and walking you through each step, you don’t need an map, either! But, if you do fancy finding your way around the future of your business, you can start here.
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