With an average of 515 million website visitors per month, it’s no surprise that Online Travel Agencies (OTAs) have grown to become an invaluable tool for both modern travellers and the travel industry at large. However, staying afloat in the OTA business is more complex than it may seem.
Constantly shifting market conditions and traveller preferences, plus the steady rise of competition, mean that the successful OTA needs to be able to adapt quickly. They also need to keep on the lookout for new revenue streams and ways to streamline operations.
Sound like a tall order? We’re here to help. Here, you’ll find four tried and true tips that will get you started on the path to success.
1. Get your teams working together
Are conflicting agendas impeding progress? An important part of reaching your OTA’s goals is minimising internal friction and getting your CCO and COO’s teams to work together. When people stop working in silos, solutions can be discovered that serve the unique needs of each department while optimising key performance indicators for all stakeholders involved.
2. Increase ancillary conversions
Are you making the most of your post-booking revenue opportunities? Being able to maximise revenue on each traveller after the initial booking is critical to OTA success. To do this, you need to adopt the mindset of an online retailer. This means having a consolidated, one-stop-shop for all ancillaries and presenting offers to travellers at the right time.
3. Deliver better content
Are you delivering content that’s relevant to travellers? For OTAs, having the right content is key to attracting travellers to your site and keeping them engaged with your offerings. Part of the solution is implementing optimal content-retrieving tools and systems such as travel data aggregators. Avoid hidden fees by skipping the GDS in favour of a more modern solution.
4. Personalise your offers
Are you appealing to individuals? The importance of personalisation is growing among today’s travellers, especially millennials. For OTAs, putting this into action can include offering exclusive travel packages tailored to different tastes and preferences, or even giving travellers the opportunity to design an experience of their own via mix and match package modules.
Ready to unlock your OTA’s fullest potential?
Want to learn more? Download our white paper, “Success factors of a thriving OTA business”, for a deeper look at the strategies that will help you maximise efficiency and unlock the fullest potential of your business.