Here’s something that will blow your mind and offer a new perspective on corporate air travelers. While corporate travelers account for just twelve percent of passengers, they are responsible for a whopping seventy-five percent of the profits made by an airline company.
Thus, ensuring that corporate travelers remain loyal to the airline is paramount for its success. While this may look easy on the surface, it is actually quite complicated as corporate travelers often have different needs and preferences than leisure passengers.
One of the solutions to this problem is a dynamic business rewards program. This program allows airlines to give corporate travelers personalized bonuses in exchange for their loyalty, including discounts on airfare and access to exclusive services.
Understanding the Dynamic Business Rewards Program
A dynamic business rewards program is a flexible and tailored loyalty program designed specifically for corporate clients. Unlike traditional loyalty programs that give the same rewards to all members, a dynamic business rewards program allows airlines to tailor rewards based on individual customer behavior.
For instance, an airline may offer a particular corporate traveler a bonus for booking their flights with the airline through its corporate portal. Similarly, another corporate traveler might be offered a discount on airfare for reaching a specific number of flight miles.
All the hard work for airlines to create and manage these tailored rewards is done by advanced technologies, such as artificial intelligence and predictive analytics. These technologies allow airlines to capture data from corporate travelers and analyze it in order to create unique rewards packages for each customer.
The Benefits of a Dynamic Business Rewards Program
A dynamic business rewards program can be beneficial for both airlines and corporate travelers. Here are some of the major benefits of this program:
Attracting New Corporate Accounts
A dynamic business rewards program serves as a powerful tool for airlines to differentiate themselves from competitors. This enables them to attract new corporate accounts that may otherwise be hesitant to sign on with the airline. By offering exclusive perks, such as discounted fares, priority boarding, lounge access and dedicated account management, airlines can entice this special customer segment to choose their services over others.
Retaining Existing Corporate Accounts
Air travelers value the convenience and consistency of their travel experiences. Through a dynamic business rewards program, airlines can cultivate loyalty by offering rewards tailored to their specific needs. This strengthens the bond between the airline and corporate travelers, making it more likely for them to remain loyal and continue using the airline’s services for their business travel needs.
Encouraging Higher Spending
Lastly, with a dynamic business rewards program, airlines can incentivize corporate accounts to consolidate their travel spending. They can offer tiered reward structures and bonus points. This can lead to increased volume or frequency of travel and higher spending by the corporate customer. This naturally leads to increased revenue and profitability for the airline.
Conclusion
In today’s competitive airline industry, a dynamic business rewards program serves as a powerful tool for attracting and retaining corporate accounts and getting them to spend more. Implementing a well-designed solution to enable dynamic business rewards programs demonstrates a commitment to meeting the unique needs of corporate customers, fostering long-term partnerships, and ultimately driving business growth.
