In this Skift Summit video we hear from Ramya Murali, principal at Deloitte Consulting LLP, about how loyalty programs in the travel industry are evolving in response to the business shifts caused by the Covid-19 pandemic.
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In this video:
- How the pandemic disrupted historic business assumptions: 2020 forced many companies to reconsider how they operated and what their customers needed.
- Why the concept of travel loyalty is overdue for an update: reevaluating decisions related to the value of different customers, overall program benefits, and how to value the financial impact of programs on the company bottom line.
- What are the core features of a successful travel loyalty program: providing the perks that ensure a mutually beneficial relationship between the consumer and the brand.
Loyalty, like many parts of the travel industry, is undergoing a reset out of the pandemic as brands aim to remain relevant and scramble to capture pent-up demand. The past year has seen an incredible amount of experimentation with consumers, re-hauling of points programs, the launch of new subscription models, and rapid shifts in traveler habits; leaving the overall loyalty and subscription space wide open for new innovations.
But how should travel brands adapt their own loyalty programs in response to these shifts? And how will the evolution of loyalty impact how they engage travelers moving forward? In this Skift Loyalty and Subscription Summit video, Ramya Murali, principal at Deloitte Consulting LLP, explains how the pandemic is forcing travel companies to reconsider long-held assumptions about their loyalty programs.
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