[Video] Airlines: Yield management with personalized offers
The biggest challenge faced by the airlines industry is ‘yield management’. In simpler words, the only question an airlines marketer is trying to find an answer for day in and day out is this – ‘how do I fill my seats on a week day?’
The difference between demand and supply is the starkest in the airlines industry. Traditionally, airlines have relied on blanket discounts for all users to encourage ticket bookings on their distress routes on week days. While this might help spike bookings to a certain extent, it simply cannot be a long term solution.
A sound yield management strategy relies on 3 key aspects:
- identify users with the right propensity to purchase
- create niche segments and personalize limited period discounts
- build a consistent user experience across all digital channels
Subra Krishnan, SVP Products at Vizury, explains in his article on Tnooz, these 3 steps through which airlines can close this demand-supply gap from a personalized marketing stand point.
Vizury’s Engage Travel is the growth marketing platform custom built for the airlines vertical. Here’s a quick peek at how Airlines can personalize offers at a user level and boost marketing RoI.
With Engage, you can now
Integrate your yield management strategy with marketing for greater RoI
Personalize offers on a 1:1 basis, based on online behavior
Reach out to users with a consistent message across channels – Website, Push, Display, Social
The intuitive UI allows you to segment users and activate channels on the click of a few buttons.