2020 was anything but ordinary, to say the least. And it triggered changes that we have never seen happen so quickly. Airlines, as well as their partner-providers, embraced being able to respond to the market fast, with relevance and the customer being top of mind. The shift to quick and automatic ticket repricing and cancellations grew in importance as did autonomous self-servicing, touchless and contactless technology at the airport and onboard, and, of course, digital web and mobile channels.
Getting Ready for Recovery
Now two months into the new year, I look back at the top airline priority areas for recovery to drive demand and revenues going forward:
To revive revenue opportunities, airlines are preparing for greater adoption and sophistication in digital retailing. Offering the right products and services at a revenue-optimal price for both traveler and carrier through the digital channels is more important than ever. Airline-led dynamic offer management is paving the path to recovery.
Launching Dynamic Offers
The benefits of dynamic offers can be distinctly seen across digital retailers from other industries: better product differentiation, personalization, and optimal pricing leading to higher conversions and greater revenues. For airlines to get to dynamic retailing surely is a bumpy, but promising road ahead, enabled by IATA’s industry-wide initiatives like NDC (new distribution capability) and ONE Order. To help airlines and providers define the relevant concepts, as well as monitor industry capability in relation to dynamic offers, IATA has published the Dynamic Offer Maturity Model:
The launch of PROS Dynamic Offers solution coincides with a pivotal time for the airline industry as it prepares to rebound. Designed to power dynamic offer management outside of the legacy PSS limitations, this offer engine arms airlines with critical capabilities to create, price, and distribute their products and services in a dynamic, real-time fashion, powered by PROS pricing science.
Take a look at how creating dynamic offers can help airlines deliver the right product, to the right travelers, at the right time and price:
Getting Started with Dynamic Offer Creation
In times of uncertainty dynamic offer management does not need to be a years-long project. Carriers, as well as their customers, need flexibility today. For this reason, PROS Dynamic Offers solution bundles key capabilities across shopping, pricing, merchandising, and distribution so airlines can quickly and efficiently benefit from scalable offer creation depending on their business goals.
And goals vary across carriers. Is it your airline digital channel that requires better product differentiation and more attractive ancillary bundles? Or is it your metasearch and direct connect partners via NDC that demand access to richer and more consistent offers? Are you looking to take your airline to the next level by introducing true science-based pricing? Or perhaps all of the above? With a dynamic offer engine, you decide what the right product looks like for the customer and how it should be priced and delivered across distribution channels and touchpoints. The gained flexibility and control is on top of and in full compliance with industry standards (ATPCO and IATA) to ensure the continuity of your business.
We, at PROS, know that every airline is different, and so are their customers and markets. Take the next step in airline digital retail with an airline-controlled dynamic offer management solution: PROS Dynamic Offers. Learn how it can help your airline here or contact PROS for a demo.
About the AuthorMore Content by Stanislava Yordanova