What Trends are Shaking Up the Travel and Hospitality Industry? Understanding the Trajectory of Change in 2020
In the coming 12 months, travel and hospitality companies will continue to battle for the attention of their customers across digital and traditional channels. When it comes to promoting loyalty, what still works, and what is going to be the primary method for improving loyalty in the near-future? Current trends indicate that the use of machine learning holds promise for improving the quality of interactions between brands and customers on digital platforms. Currently, adoption of machine learning only encompasses about a third of the market according to the WBR Insights report, The Age of Assistance: How Machine Learning Makes Sense of Consumer Identity, Intent, and Context. This is coupled with the fat that 48% of respondents felt that their greatest challenge in remaining competitive within the market was getting their new technology investments off the ground in the first place. Similar to a cruise liner in the ocean, it’s important to understand where your travel brand is going before setting your digital strategy in motion.
In 2020, WBR Insights and Digital Travel will continue their exploration of how the travel and lodging industry is evolving with the publishing of a new report, Positioning Yourself with Respect to Ongoing and Future Trends in Customer Engagement: What Will Work in 2020?
This report will examine the current performance of customer engagement strategies within the travel and hospitality industries, which tools are creating results, as well as which ones respondent thing are going to be the most important for them over a time horizon spanning the next 24 months.
Some of these technologies include mobile, AI enabled chatbots, personalization campaigns and the softwares enabling them, and more.
Access the Full Report: Available April 2020