Behavioral economics and your travel program

| August 3, 2019

article image
To change behaviors businesses need to first identify and understand the key problems or challenges travelers face. Then these insights into traveler friction can be used to tweak travel programs to achieve better compliance and engagement – and to reduce the human cost of frequent travel.

Spotlight

Icelandic Mountain Guides

In 1994, four passionate mountaineers and environmental advocates took a leap by starting an outdoor adventure company. Their creation of the glacier walk in Iceland revolutionized the outdoor adventure industry in the country.

OTHER ARTICLES

How a travel club can better connect brands to their users

Article | February 19, 2020

As the number of travelers rises year after year, the number of members enrolled for travel-based rewards programs continues to rise along with it: According to one survey, about 56% of travelers were a part of one or more hotel loyalty programs, while 54% belonged to at least one airline loyalty program. What can brands take from this data? That travel can be leveraged as a way to strengthen loyalty among members with the right set of benefits, added value and perceived value of a personal connection to the brand.

Read More

How Security, Privacy, and Trust Can Help Travel Brands Offer a More Human Experience

Article | February 19, 2020

To deliver the richer, more fulfilling experiences that travelers crave, travel brands depend on a growing cache of customer data. More data can mean more opportunities to deliver an elevated human experience, personalized to each traveler’s needs and wants. But many brands are opaque about just what data they are collecting, and customers often don’t have any way to know how it may be used, how well it is secured, and what, if any, control they have over their personal information. Hence, the trust that travelers place in the industry is at risk, which ultimately could impact their travel choices.

Read More

How will travel loyalty programs respond to coronavirus?

Article | February 19, 2020

During Q4 2019 I had multiple conversations with companies from the hospitality, retail and banking sectors that were either launching or redefining their loyalty programs. In all cases, companies were looking to provide greater value to their members and to stand out from the crowd of meaningless programs. As we all know, things have changed, and plans have been by more urgent matters.There is, however, a tremendous opportunity right now for loyalty programs to step up during the ongoing coronavirus crisis and show why being a member makes a difference.

Read More

How blockchain is reinventing travel loyalty programs for both brands and consumers

Article | February 19, 2020

According to the latest Bond Brand Loyalty Report, memberships across industries continue to rise and now average 14.8 per person. But - considering total global spend on loyalty programs is estimated to be $323 billion in 2019 – a more critical statistic is: on average people are active in less than half (6.7) of the programs they belong too. More often than not, loyalty programs do not drive loyal behavior. The travel sector has some of the lowest satisfaction rates, according to Bond’s survey of 55,000 consumers in more than 20 markets around the world. Only 37% of hotel loyalty members and 38% of car rental members say they are satisfied with their programs; airlines, meanwhile, fare slightly better at 42%.

Read More

Spotlight

Icelandic Mountain Guides

In 1994, four passionate mountaineers and environmental advocates took a leap by starting an outdoor adventure company. Their creation of the glacier walk in Iceland revolutionized the outdoor adventure industry in the country.

Events