DRIVEN BY MICRO-MOMENTS: THE FUTURE OF THE TRAVEL INDUSTRY
If you want to win the hearts, minds and wallet share of consumers, a report by Think with Google suggests that companies need to do more than just show up in those I-want-to-know, I-want-to-go, I-want- to-do, and I-want-to-buy moments, They are required to be useful and meet the customer’s needs in those exact moments. This means connecting people to relevant information, if required, in real-time and based on location. Micro-moments are critical touchpoints within today’s consumer journey, and when added together, they ultimately determine the customer experience.
Nowadays the customer decision journey has been fractured into hundreds of tiny decision-making moments – from inspiring vacation plans to visting the point of interest. Whatever it may be, consumers demand instant gratification, and they are making decisions faster than ever before. Mobile has created and triggered this behavior change of a lack of patience and expectancy of immeidiate solutions. In other words, it means to be there, be useful and be quick.
McKinsey looked at the future of the travel industry, where the customer journey is mainly powered by data. The company noted there is a strong need for immediate and smart information, which is curated and personalized. In fact, my latest venture plays a major role in this field. Whether you are searching for a place to stay or wanting to book your next flight, online travel agencies will find what you are after, but offer about 427 different solutions. Are customers really going to take hours to sift through all of them? Travel is a high-anxiety purchase. People have very little vacation time. Vacations are expensive and their time is precious. For many, it is the only way to escape their less exciting daily lives. However, instead of curating the best recommendations for the user, pop-ups appear and rush the customer to make a decision by telling you: “Hurry, hurry, hurry! Only two rooms available at this price point.”
The first company that understands how to treat travel as an anxiety purchase and build empathy towards to its customers will win big. They key is to combine internal and external data to understand its client’s intention and to personalize communications and value propositions. Winners in this industry have five instructive characteristics.
- Seamless omnichannel experience and interaction between business and customer.
- Be agile and prototype a lean solution to find out what the user wants.
- Understanding how to evaluate and use data and insights to make a real difference.
- Use personal data paired with information from open-source platforms or partnerships to understand micro level movement and to foresee trends.
- Implement machines to provide personalized recommendations and deliver service orders.