Knowing Your Customers – and Exceeding Their Expectations in Travel
Personalized service drives higher conversion rates
By Ashish Khullar, Account Management and Rajat Kotra, Global Analytics Offerings Assets Leader
Just as individual travelers can benefit from the experience of a savvy guide, so can travel companies. Prescriptive analytics can guide your agents through every customer interaction in real-time, allowing your company to seize new opportunities. The need for guidance has never been greater because the travel industry is changing with the speed of a jetliner. Increasing competition, tighter margins and a changing market create a myriad of new challenges.
Meeting those challenges requires the travel industry to exploit the abundance of available customer data – demographics, past transactions and personal preferences – to anticipate the needs of their customers in real-time.
Let’s take the example of Michael Mitchell, a leisure traveler vacationing with his family – a group that includes two children and his wife’s parents. We can use this information – and other readily available data such as the purpose of the trip and the destination – to anticipate what additional products or services the Mitchell family is likely to want.
Mr. Mitchell is more likely to opt for accommodations that include a kitchenette. Such a large group would likely check several pieces of luggage, so paying baggage fees in advance would save money over paying the fees at the airport. Historical transaction data might suggest the family prefers beach destinations over city locations, museums over amusement parks – giving the agent insight to offer excursions, tours and other activities. The Concentrix prescriptive analytics solution Contact2Close allows agents to do much more to enable the Mitchell family to have a memorable vacation.
Real-time prescriptive analytics solutions make the difference between a sale and a lost opportunity. Analytic solutions put new information from a live customer interaction in context, use it to develop a dynamic model and present the most enticing offer to the customer. Prescriptive analytics solutions identify the next best action for an agent to take while speaking with a customer. This use of analytics is best suited for adding sales, upselling and providing offers to keep the caller from switching to a competitor.