Impact of personalization on business travel

- Redefining upcoming travel trends for corporates

People’s expectations are rising with the industry's rapid expansion and evolution of technology. Every traveller in any company has unique travel preferences. If employees utilize a general booking tool, they will be provided with various hotel alternatives that do not meet their specific requirements. The majority of the options they see will be unsuitable – they may be too distant from their goal or in unsafe areas. Hence, arises the need for personalization.

Personalization refers to leveraging the data about your employees to give them services based on their preferences in business travel. It assists firms in increasing employee loyalty and engagement and creating a positive link with company travel that is typically reserved for personal applications and websites.

How to do personalization for business travel?

  1. Data-based customized recommendations

Personalized suggestions based on behavioural data are one of the most effective methods to drive the Business Travel industry. With advancements in custom-built algorithms and machine learning techniques, recommendation engines boost cross-selling and up-selling prospects.

You may construct a recommendation system to make options for add-ons to your clients' next journey by gathering relevant information from their recent searches. Important recommendations, such as the size of the room they should choose, the hotels or room views that best suit their budget, etc., hit the perfect note, urging clients to make a purchase.

  1. Updates on the trip

Your employees have a full plate and a million thoughts racing through their heads. There is a reasonable probability they may forget about a planned trip until it is too late to make any last-minute preparations.

Your travel management software may deliver customized reminders about forthcoming flights, vehicle rentals, etc. These reminders can assist your staff in staying on top of their schedules. Your travel management software may also offer information on other unforeseen events like air travel cancellations and handle such eventualities to keep your staff stress-free during business travel.

  1. Contextualization

Travel businesses may now do so by leveraging artificial intelligence (AI) and pushing for active distinction in this still-nascent market sector. Personalization based on preferences is something that people of all ages are familiar with and value.

Then there's micro-personalization, layering in context from IoT devices, and delivering at scale using AI and machine learning. It comprises of:

  • Real-time location: Mobility and geolocation are more critical in personalization than any other business. Forty-six percent of Gen Z wants "in the moment" location-based discounts, and 51 percent want location-based activity ideas.
  • Machine learning and AI to drive scale: AI-powered analytics engines may learn client preferences or even predict what that traveller may desire soon.
  1. Preferences of Different Generations:

Understanding age disparities in travel preferences is another essential component of customization. For example, Generation Z is eager for mobile apps and solutions to help with trip budgeting, planning, and organizing. Integrating these services into "on the go" capabilities should be a top focus for travel firms trying to stand out in this increasingly competitive sector.

  1. Online Self-Booking Tools

Another intriguing fact we've discovered is that using a personalized travel tool increases the conversion rate for hotel/flight/car bookings. According to a study, when a hotel is classified as a favourite, booking conversions increase by 5%. Personalization fosters confidence and trust between the traveller and the hotel.

TrackEx, a cloud-based travel and expense management tool, allows you to customize your entire plan from employee-based accounts to several permitted trips to the spending limits. This will help adjust your company's needs and facilitate individual employee needs together on a single platform.

Also, our Employee Travel Benefit Program provides employees access to flight and hotel bookings at discounted prices, reducing 20-30% costs on every trip With a minimum effort, corporates can offer this low-cost benefit to their current employees and, perhaps more importantly, their families.

Contact the business executive at TrackEx today to explore your needs.