Helping one of Germany's leading travel companies to strengthen their digital forcesclient → DER Touristik
Fierce competition, many failed start-ups, monopolizing business practices and complex data structures make the task extremely difficult to develop unique experiences that are worth using and sharing. Companies like Airbnb have captured the Zeitgeist and make us happy through smart design and a clever business model.
the industry will (have to) shift from what we investigated. life sciences researchers are on the dedicated mission to make the world a better place through technology. they are becoming the cool mr. hyde as part of a networked culture composed of humans and technology. research is zeitgeist.
The travel sector’s biggest problem is that its underlying models are fracturing according to McKinsey. Today, traditional travel agents turn to transform their services for business travelers, rather than to hand over products and services for a broader range of costumer segments. Service providers and suppliers are investing significantly in time and effort to bait their customers to their platforms and channels by increasing marketing expenses with little to no return on investment in an industry where products and attractions are more or less saturated (OECD Tourism Innovation Report).
Travel metasearch engines are not only squeezing out those service providers by weakening their full-service proposition, but they are establishing a format in which price becomes the primary product differentiator. Cross my heart - and this is the worst part for the industry - customers will progressively not find what they are looking for: a place where they can discover and explore destinations - driven by their thirst for new experiences - and book their trip with ease. At the end they will favor better alternatives.
While established travel companies do think about how to reach their annual profit, customers simply want to go on vacation. Holidays are a costly undertaking that should give pleasure and fun. The brighter the thrill of anticipation the more are customers generous, before, during and even after their travel experience.
Build a business that encourages experimentation and understands customers' behaviors through innovative digital strategies. This requires guidance and a willingness to cover both new technologies, big data and a “hit and miss” approach. Those companies will win who want to renew their business and unleash their digital potential to meet the expectations of today’s technologically savvy consumers.Read our white paper