In celebration of travel and unlocking new opportunities, Collinson, owner and operator of Priority Pass, invited esteemed guests from the financial services and travel sectors in Japan to an exclusive networking event at VIRTÙ, one of Asia’s 50 Best Bars in their 2023 rankings. Collinson’s Managing Director for North Asia, Ian Lee and Market Lead - Japan, Maiko Kimura hosted the session, alongside Rohan Bhalla, Vice President of Business Solutions for Asia Pacific, who presented a keynote address sharing insights on how brands can unlock new growth opportunities and transform their customer value proposition by building an effective travel playbook.
Key highlights from Rohan’s presentation include:
Travel is the new battleground for financial services brands. With more than half of the world population expected to travel this year and consumers placing a heightened focus on travel experiences, it presents new and significant opportunities for brands to enhance their customer value proposition and in turn, generate commercial returns.
Consumers are the new “C-suite of today”. To create effective customer value propositions, brands need to know them, value them and engage them.
Consumers are also placing a heightened focus on travel experiences. In particular, travel rewards and benefits have a high perceived value. A recent Collinson APAC consumer insights report revealed that should a bank offer travel-related rewards as part of their customer engagement proposition, 93% of respondents would engage regularly with them, 83% would stay loyal to the bank and 75% would use the bank’s cards for both their travel and everyday spends.
Building an effective travel playbook can help brands unlock new growth opportunities that travel brings. Brands can do this by adopting three key strategies – establish clearly what to influence and align that metric across the organisation; articulate a value proposition for all stakeholders and finally, measure, test, learn and pivot through data and technology.
