August 1, 2024

Finding Growth Amid Fluctuating Market Conditions

By
Rocket Travel by Agoda

Current market conditions are pushing airlines and other businesses to think differently about how they can leverage loyalty programs to drive growth, even when the core business isn’t on pace to meet growth targets.

With the entire airline market seeing decreased profits as of Q2 2024, airlines are looking at different ways of how they can maintain profitability. Some airlines are cutting routes, grounding planes, or finding ways to increase efficiency. Others are searching for additional revenue streams to supplement and achieve their business objectives.

Smart businesses are leveraging travel as an alternative way to generate growth – ensuring sustained profitability at a time when the market faces uncertainty. 

One of our partners in the airline space is using this as an opportunity to drive growth through their loyalty program, increasing revenue from travel by more than 50% since launch. Brands looking to accelerate their growth can strengthen their own loyalty programs by: 

  • Aligning their strategy with the right partner to ensure technology supports business goals.
  • Keeping the program focused on their customers to increase engagement.
  • Investing in their solution to drive continued revenue growth.
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Beautiful Rust - Noel F.
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Align your strategy with the right partner

For brands looking to continue to hit their business goals, choosing the right partner – who can look at market conditions affecting the wider industry and think creatively – is critical. 
Here’s what to look for in a partner:

Ability to customize platform economics

The ability to tailor platform economics to meet specific business goals is essential. This includes customizing prices, inventory, and other key elements to align with your strategic objectives. For example, a partner that allows you to adjust pricing models and inventory management can help you respond swiftly to market changes and customer demands.

In-depth consumer journeys drive engagement throughout every phase of the customer lifecycle. A robust suite of transactional emails ensure customers have all the information needed at their fingertips from booking, to check-in, and post-trip. Dynamic cross-sell strategies allow us to drive high attach rates with other travel products offered by our partners, generating incremental bookings and boosting the value of each trip, and abandoned search and welcome series ensures customers understand the value of our partners’ travel platforms and stay loyal to our partners’ brands.
Personalized content leveraged throughout our emails, delivering a unique experience for the consumer. Our personalized email communications ensure each customer has all the information they need throughout their travels, easy ways to contact our customer loyalty team for assistance, and suggest travel destinations based on their personal travel preferences. This adds a level of convenience to the consumer experience and drives engagement with our partners’ brands.
Utilizing AI is quickly becoming a cornerstone of email marketing. Using artificial intelligence allows our marketing teams to quickly drive innovation through A/B experimentation. In testing, we have found it to be very effective at driving results and are developing new ways to leverage this emerging technology as email marketing services continue to expand.
Segmenting audiences based on previous engagement data to deliver new messages to the customer and drive continued engagement with our white label platforms.
Robust reporting enables us to continually optimize the performance of our campaigns, and keep partners informed of success and areas of opportunity at every phase of a partnership.

About the author

Rocket Travel by Agoda, part of Booking Holdings (NASDAQ: BKNG), is a leader in the travel industry offering technology and marketing solutions for some of the largest consumer brands in the world.

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How Travel Brands Are Using Technology to Maximize Value Globally

How Rocket Travel by Agoda is Helping BUZZEBEES Provide a Seamless Way to Redeem Points

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September 4, 2024

Finding Growth Amid Fluctuating Market Conditions

Current market conditions are pushing airlines and other businesses to think differently about how they can leverage loyalty programs to drive growth, even when the core business isn’t on pace to meet growth targets.

With the entire airline market seeing decreased profits as of Q2 2024, airlines are looking at different ways of how they can maintain profitability. Some airlines are cutting routes, grounding planes, or finding ways to increase efficiency. Others are searching for additional revenue streams to supplement and achieve their business objectives.

Smart businesses are leveraging travel as an alternative way to generate growth – ensuring sustained profitability at a time when the market faces uncertainty. 

One of our partners in the airline space is using this as an opportunity to drive growth through their loyalty program, increasing revenue from travel by more than 50% since launch. Brands looking to accelerate their growth can strengthen their own loyalty programs by: 

  • Aligning their strategy with the right partner to ensure technology supports business goals.
  • Keeping the program focused on their customers to increase engagement.
  • Investing in their solution to drive continued revenue growth.

Align your strategy with the right partner

For brands looking to continue to hit their business goals, choosing the right partner – who can look at market conditions affecting the wider industry and think creatively – is critical. 
Here’s what to look for in a partner:

Ability to customize platform economics

The ability to tailor platform economics to meet specific business goals is essential. This includes customizing prices, inventory, and other key elements to align with your strategic objectives. For example, a partner that allows you to adjust pricing models and inventory management can help you respond swiftly to market changes and customer demands.

In-depth consumer journeys drive engagement throughout every phase of the customer lifecycle. A robust suite of transactional emails ensure customers have all the information needed at their fingertips from booking, to check-in, and post-trip. Dynamic cross-sell strategies allow us to drive high attach rates with other travel products offered by our partners, generating incremental bookings and boosting the value of each trip, and abandoned search and welcome series ensures customers understand the value of our partners’ travel platforms and stay loyal to our partners’ brands.
Personalized content leveraged throughout our emails, delivering a unique experience for the consumer. Our personalized email communications ensure each customer has all the information they need throughout their travels, easy ways to contact our customer loyalty team for assistance, and suggest travel destinations based on their personal travel preferences. This adds a level of convenience to the consumer experience and drives engagement with our partners’ brands.
Utilizing AI is quickly becoming a cornerstone of email marketing. Using artificial intelligence allows our marketing teams to quickly drive innovation through A/B experimentation. In testing, we have found it to be very effective at driving results and are developing new ways to leverage this emerging technology as email marketing services continue to expand.
Segmenting audiences based on previous engagement data to deliver new messages to the customer and drive continued engagement with our white label platforms.
Robust reporting enables us to continually optimize the performance of our campaigns, and keep partners informed of success and areas of opportunity at every phase of a partnership.
More articles to check out:

What Travel Brands Should Consider With GenAI

How Travel Brands Are Using Technology to Maximize Value Globally

How Rocket Travel by Agoda is Helping BUZZEBEES Provide a Seamless Way to Redeem Points

Leading the Charge in Localization and Technology for the Global Travel Market

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