The importance of transparency on pricing and people knowing exactly what they’re getting?
There is no doubt that we are now in a new age of austerity.
What I mean by this is, we are still consumers, we still want to consume, but searching for a bargain is no longer seen as cheap and tacky. In fact, many wear frugality as a badge of honour these days.
We are becoming frugal in some areas to be able to spend more in others.
This means that transparency has never been more important, especially as we give people the option to upgrade specific areas of their travel experience and prices continue to be unbundled.
For example, many people may not want to pay to travel business class, but they may see paying a premium for the use of a private lounge, or to be fast tracked through long queues, as a sound investment.
Transparency is as much about creating an opportunity to retail and meet the bespoke needs of your customer, as it is about honesty and transparency over pricing.
What is worth remembering, if you are not honest your customer will be and will shout about your bad service from the roof tops! If you just devalue existing products customers will feel cheated, remember the bad press Ryanair had with the concept of spend a pound to spend a penny!
By being transparent you will quickly learn what your customers value, only then can you tailor products and services to truly meet their needs.
The importance of transparency on pricing and people knowing exactly what they’re getting?
There is no doubt that we are now in a new age of austerity.
What I mean by this is, we are still consumers, we still want to consume, but searching for a bargain is no longer seen as cheap and tacky. In fact, many wear frugality as a badge of honour these days.
We are becoming frugal in some areas to be able to spend more in others.
This means that transparency has never been more important, especially as we give people the option to upgrade specific areas of their travel experience and prices continue to be unbundled.
For example, many people may not want to pay to travel business class, but they may see paying a premium for the use of a private lounge, or to be fast tracked through long queues, as a sound investment.
Transparency is as much about creating an opportunity to retail and meet the bespoke needs of your customer, as it is about honesty and transparency over pricing.
What is worth remembering, if you are not honest your customer will be and will shout about your bad service from the roof tops! If you just devalue existing products customers will feel cheated, remember the bad press Ryanair had with the concept of spend a pound to spend a penny!
By being transparent you will quickly learn what your customers value, only then can you tailor products and services to truly meet their needs.
NB: This How To is authored by Tim Russell, UK and Ireland MD for Amadeus.