Last year, IT investment in the UK travel industry grew 5%. This was according to The Travolution Innovation Report. However, with Britain's expected leave date from the European Union fast approaching, there is now an expectation of 0% growth for 2019. This statistic and following quotes came from Travel Technology Europe (TTE) 2019.
Simply put, travel companies are preparing and safeguarding their resources and budgets in the event of severe economic disruption caused by Brexit.
Whilst there is common sense in holding back on lavish spending and being sensible with budgets, are UK travel companies actually doing themselves an injustice by not investing in IT software?
Standing still can be just as dangerous as going too fast. What happens if your digital strategy is paused during a potential economic downturn, but when it’s time to resume, you’re too far behind your competitor's strategy and find yourself irrelevant to the market you’ve long been a key player in?
“The most obvious thing to do in an economic downturn is to stop your technology and digital projects but that’s probably the last thing you should be doing.”
Ian Richardson | Chief Executive, TheICEWay
Exploring the ideas around investing in the right sort of software, not just what’s popular at the moment, could mean having a chance to take stock on what channels you're currently using, and to see what value they are delivering your company.
Ian Richardson goes onto say “It’s a question of re-prioritisation and focus on short-term gains while still moving towards some kind of long-term digital vision if they have one”
Furthermore, consumer habits change on a whim. But with the looming date of Brexit approaching, unpredictability is expected from UK consumers especially. Understanding their behaviour, both online and offline, will be the key to providing a unique experience when an interaction occurs with your brand.
“Their [customers] behaviour is not necessarily going to be determined by what they’ve done historically - requirements change. Use data analytics to understand customers behaviour.“
Chris Roe | Vice President of Sales, Distribution, and Loyalty, AccorHotels
Infinity Call Intelligence enables you to have a complete view of the results your marketing efforts are bringing to your business. From online activity to offline phone calls, we’re able to, with pinpoint precision, close the loop on your entire customers' journey.
More specifically, our Conversation Analytics suite enables you to understand your customers' behaviour at scale. There is a wealth of knowledge hidden inside every phone call made between your customer and your business.
Using Conversation Analytics can empower you to understand just some of the following details about your customers:
Was a competitor mentioned?
What destinations did they discuss?
What did they call about?
How do they feel about your product?
Did they make a payment?
Were they happier at the end of the call than the beginning?
Did they make a booking?
Without Conversation Analytics, finding this information out would be a laborious manual task which would most certainly hinder your team's productivity and potential for growth.