Travel Rewards vs. Loyalty – What’s the Difference?
Loyalty represents an invaluable asset for travel sellers. Merchants meticulously track engagement, evangelism and profitability to grow share of mind and share of wallet. Key performance indicators are easily gleaned and serve as a guiding light for future development endeavors.
Many travel companies mistakenly equate rewards to loyalty. Transactional relationships always risk losing the customer, at the prospect of a more fulfilling offers. Truly loyal consumers, however, often incorporate intangible factors into their purchasing decisions. This article addresses some key trends in the development of travel loyalty, with a focus on the following:
- Overview of loyalty and reward program structure, and what differentiates them
- Outlining metrics for a success program
- Discussing where loyalty can grow, in light of recent technological developments
- Addressing common privacy, legal and other issues, along with key obstacles
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