The effects of the pandemic continue to powerfully change nearly every aspect of the travel and hospitality industry. Though companies have been trying to predict what’s around the corner in this recovery moment, it’s become clear that they need to stay as agile and versatile as possible and embrace a dynamic mindset of creativity and pragmatism to navigate the unpredictability.
This is especially true for business travel, which is still slow to rebound — and possibly changed forever — particularly when it comes to the relevance of traditional loyalty schemes. In order to drive new growth, travel companies need to rethink their ideas and strategies around loyalty and become more reactive and responsive to the emerging needs of the modern business traveler.
Emily Weiss, global industry sector lead for travel at Accenture explains, “Consumer behaviors have been massively disrupted and, with an extended period away from travel, habits and loyalties may have faded. Winning customer loyalty requires a thorough strategic review, focusing on the areas we call the ‘soul,’ ‘mind,’ and ‘body,’ — or the experience model, the data model, and the business model, respectively. Competing for consumers by resorting to old tactics and points-based models simply won’t work in the fight for consumer loyalty.”
To help leaders in the travel industry get back to growth and thrive, Accenture has launched its inaugural issue of “The Guide,” a new digital magazine exploring travel’s changing realities and how leaders in the industry are navigating the way forward. The Guide highlights how companies can embrace their “adaptive gene” to help seize new opportunities, rebuild customer trust, and generate agile cost models.
The October 2021 issue of the magazine includes:
- A video from Keith Barr, CEO of IHG Hotels & Resorts, on how IHG is taking a customer-focused approach to rethink business travel and loyalty as the company emerges from the pandemic
- A look at the new face of loyalty in a changing business travel ecosystem
- Highlights from Accenture’s Travel, Tech & Trust podcast interview with Gonzalo Carpintero, senior vice president of operations EMEA and head of business transformations, Radisson, on the new bleisure traveler
- Reflections from Helen Hickson, Accenture’s Corporate Mobility lead, responsible for one of the largest bunch of corporate travelers in the world
- Thoughts from travel leaders on how travel can inspire inclusion