A strategy worked out in advance can make the future of a business more robust in these challenging times. Industry experts bring into focus the need for frequent research and real-time data that can prove to be a magic wand for decision-makers, encompassing factors like traffic, traveller behaviour, routes and destinations, etc.
Chetan Kapoor, Co-Founder and Chief Strategy Officer, Videc
The fundamentals of research and data has shaken since the pandemic. Companies can no longer rely on historical trends to predict future growth. Rather, companies now require to monitor real time trends more than ever. Be it passenger traffic, traveller behaviour, operational routes and destinations – every bit of the travel industry has been upended, and things are only going to get more complex in the short-term.
Abraham Alapatt, President & Group Head – Marketing, Service Quality, Value Added Services & Innovation Thomas Cook (India)
Research and data has been key to our foray into new markets/segments, launch of new products, services or innovation in technology or processes; equally in refining/upgrading our existing products and service delivery. Data analytics has proven invaluable. Our Holiday Readiness Surveys during the pandemic provided critical insights and several initiatives that we launched were basis this research.
Binitha Sreejith, Business Development Head StreetGooser Tech
Research and planning are inter-connected. To conduct proper research, we do need to plan considering the geographical locations, the travel trend and several other factors and draw a research design. Research has varied dimensions. As a tech support company for accommodation providers, we do the research on a broader scale according to our research design. After research, we plan the business strategy.
Nicholas Lim, General Manager (Sales) Asia, Norwegian Cruise Line
Data has always been an important part of our planning, and it’s especially critical in the current environment, where funds need to be spent wisely. We start by looking at what we know through our own platforms and resources, like web visits and enquiries, but also regular check-ins to gauge the sentiment of our agent partners and past guests. Then we’ll look to fill in any gaps in knowledge through additional research. In today’s world, we have to be flexible.
Daniel D’souza, President & Country Head Leisure, SOTC Travel
It is extremely important to adapt to consumer preferences. There is a repository of customer insights that we dip into while creating travel experiences for customers. We conduct research with an objective to understand and obtain insights of the leisure traveller and their travel behaviour. Our research is conducted across metros and tier-II & III cities that offer diverse perspective and insights. Findings help us customise our offerings.
Tomoyuki Okagawa, Managing Director, JTB India
At JTB, we pride ourselves in the business of generating value to our customers and we believe that it is of utmost importance for us to study and conduct a research-based business plan. This is especially true in the current situation where the business trends are changing constantly. We ensure that a regular communication survey is conducted with our client base to develop a relevant business strategy which will also lead to the company’s evolution, development and growth.
Inputs by Hazel Jain