TravelBiz Monitor

Guest Column

Wednesday, 21 December, 2016, 11 : 00 AM [IST]
Hyper-personalisation, Unlocking value for consumers

How logical is it to offer bus booking suggestions to a frequent flyer? Perhaps once in a while, a customer may be intrigued by a bus journey, but the probability is slim enough to make the marketing exercise nearly futile. While hyper-personalisation is becoming a significant reality today, driving consumer perception and brand loyalty in a huge way, many businesses are yet to wake up to the gains they have to accrue from the phenomenon.

The advanced technological tools have made it possible for businesses to extract relevant user data through multiple sources in order to precisely fulfil their customer’s individual demands. Doing so, has enabled businesses to adopt an effective and case-specific business approach to target individual customers, rather than taking a shot in the dark by generalising marketing and brand building strategies. 

If personalisation is about knowing the cloth preferences and stitch desired by the customer, hyper-personalisation is tailoring in an additional hidden pocket right where the individual customer would’ve needed it. In the present competitive business atmosphere, analysing generalised patterns of customers is losing relevance as it merely postulates generic observations. This methodology fails to rope in each and every potential customer, thus causing a loss of business. However, hyper-personalisation ensures the retention of maximum business by equipping the company with well-defined strategies down to the minute desires of each consumer. Here, supplementing data from wish lists, browsing history, and channel activity with the latest post related to the business activity that customer had shared on social media becomes essentially important. This paves the way for a seamless and evolved consumer experience during the entire customer service process, while also simultaneously increasing the growth prospects for the respective business.

Effects of hyper-personalisation on travel Industry
The dark horse of multiple industry verticals, hyper-personalisation has also benefitted the travel industry greatly. It has enabled businesses operating in the travel and hospitality sector to offer more personalised feelings and a higher degree of comfort and convenience at each and every step of their interaction with a client. Here’s a look at the way in which this new-age phenomenon is disrupting the travel segment in India and enabling business to unlock customer acquisition and retention opportunities like never before. 

Personalised Bundled Packages:
The cutting-edge personalisation technologies allow businesses to create intensely personalised travel bundles based on a user’s browsing patterns, content consumption, and past reviews. These highly precise bundles comprise packages fine-tuned according to each customer. The readily available user data enables the business to customise packages considering the most suitable itineraries, transport preferences, as well as travel budgets. This proves to be pivotal in generating faster lead velocity and bringing in higher conversion rates for any company.

Immersive Booking Experience:
Aided with Virtual Reality, hyper-personalisation is offering first-hand experiences to prospective travellers across the globe. Customers can view the desired destination’s 360o simulation which, in turn, helps them to make a more informed travel booking decision. Based on their individual preferences, the personalised booking experience enables customers to take an immersive real-life glance into various aspects of the itinerary that they seek in the trip, hence facilitating higher conversion rates.

Big Data:
Big Data further enhances the prospect of hyper-personalisation for customers. Various parameters such as reviews, flight booking patterns, customer queries, perception analysis, and moreover real-time-data that is actively being generated can be optimally leverage to augment brand stickiness. For example, understanding the increasing interest in a specific adventure sport, especially in the region where the customer hails from, will allow a business to capitalise in the most effective fashion on the given trend. In addition, Big Data also enables the company to extract vital information from its CRM data and offers insights that generate higher revenues by a mere optimisation of its already available resources. 

Intuitive Services:
With hyper-personalisation, businesses can precisely understand the priority of their customers even before their arrival. This, in turn, makes it possible for the business to offer a superior quality service to their prospective customers. For example, greeting a customer with an orange juice upon arrival, especially when he/she has a strange fondness for orange juice will without a doubt increase the consumer satisfaction. Moreover, knowing beforehand the dining preferences of the customer enables the business to allocate its resources accordingly, which increases the response speed of the business and also prevents spoilage. 

Resource Allocation:
Hyper-personalisation also enables a business to offer a more personalised feeling during a customer’s hotel stay. The service enhancement with the RFID technology has made it possible for businesses to serve their customers better while also staying cost-effective. RFID tags in the key cards carried by guests are scanned by readers all across the property. This information is communicated to the nearest employee station to offer a highly responsive service. It, moreover, enables the business to understand the likes and preferences of the customer. 

Hyper-personalisation is an effective tool that can instantly unlock the true potential of any business model. Implementation of this advanced technology in the hospitality and travel industry enhances the growth prospects of the companies serving in this domain further and makes it possible for them to increase their consumer satisfaction significantly. Instead of delivering superior services to frequent customers by remembering what they like, hyper-personalisation allows businesses to cater to a way larger consumer base in a similar personalised fashion. Companies which are serious about their customer acquisition and retention efforts can no longer ignore the widespread advantages that hyper-personalisation offers and tech-backed convenience it bundles in for them.

 
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