How airlines use data to increase revenue — Mark Ross-Smith // StatusMatch
- Part 1Golden Loyalty Metrics — Mark Ross-Smith // StatusMatch
- Part 2 How airlines use data to increase revenue — Mark Ross-Smith // StatusMatch
Show Notes
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02:26How airlines are using data to determine their revenue and pricing modelPrior to the pandemic, airlines were using historical data to predict how much people were willing to spend on seats. As the pandemic slowed down flights, airlines had to look for other signals like banking data, credit card data, and fine dining.
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05:41Signals airlines are using to determine who they should targetBanking data is beneficial in terms of peoples spending behaviors. Those spending behaviors can be used to determine whos more likely to travel, travel patterns, and target the right customers with the right offers.
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07:06Other tactics airlines are using to increase revenueAn Asian airline started using astrology data to market more effectively to their customers. They ran a trial using peoples life path numbers in emails sent to them and found that open and click-through rates were a lot higher on those emails.
Quotes
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"Airlines traditionally have two fundamental businesses going on internally. One is selling seats to anyone that will buy them. And the second business is the loyalty, ancillary or brand business." -Mark Ross-Smith, CEO of Travel Data Daily
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"Banks and cardi networks make a bit of money out of it when you travel. So, they're incentivized to get people to travel. And, some of the analytics that they get out of that are interesting." -Mark Ross-Smith, CEO of Travel Data Daily
- Part 1Golden Loyalty Metrics — Mark Ross-Smith // StatusMatch
- Part 2 How airlines use data to increase revenue — Mark Ross-Smith // StatusMatch
Up Next:
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Part 1Golden Loyalty Metrics — Mark Ross-Smith // StatusMatch
Mark Ross-Smith, CEO of StatusMatch, talks about key metrics to measure the success of your loyalty programs. In the last couple of years, airlines have had to disclose to the market that their loyalty programs are actually worth more than the airlines themselves. Airline loyalty programs are effectively marketing businesses that marketers can learn a lot from in terms of targeting the most valuable customers. Today, Mark discusses golden loyalty metrics.
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Part 2How airlines use data to increase revenue — Mark Ross-Smith // StatusMatch
Mark Ross-Smith, CEO of StatusMatch, talks about key metrics to measure the success of your loyalty programs. Airline seat pricing originally relied on historical data to price seats. During the pandemic, people stopped flying as frequently and airlines had to turn to other signals to determine who to target in order to increase their revenue. Today, Mark discusses how airlines use data to increase revenue.
