Skift Megatrends Video: How Experiences Are Reshaping Brand Loyalty

This sponsored content was created in collaboration with a Skift partner.

In this video:

• Shifting consumer expectations: Travelers today are demanding, and they expect efficient and intuitive experiences that deliver instant gratification. This immediacy has led to greater competition among travel suppliers for loyalty, prompting companies to focus on eliminating friction while still providing a human touch in travel services.
• Rethinking the approach to loyalty: Points are still important, but they’re no longer the primary driver of customer loyalty. Travelers are seeking to balance the pursuit of rewards with their expectations for convenience and care. Brands that address (and relieve) tensions in today’s travel environment will see increased loyalty from customers.
• The role of travel insurance in customer care: Travel insurance plays a crucial role in eliminating travel-related concerns. Companies that partner with travel insurance providers to enhance customer care will be able to offer peace of mind throughout the entire travel experience.

Travel loyalty is undergoing a meaningful transformation, and many consumers are shifting their focus away from earning points as the sole determinant of where they spend their travel dollars. They’re also seeking a sense of security and reassurance in their travel decisions, and the brands that can deliver a balance of both are positioning themselves to win in the next era of global travel and tourism.

As a case in point, travel insurance is becoming an integral part of travel planning and execution, and it serves as a gateway for travel suppliers to enhance the overall customer experience by alleviating potential issues. A conversation at the 2024 Skift Megatrends event in New York City between Joe Mason, chief marketing officer, travel line of business, Allianz Partners, and Kate Anderson, creative content strategist, SkiftX, emphasized the interconnectedness of creating efficient processes and delivering emotional value — and the role travel insurance plays in shaping customer care.

This content was created collaboratively by Allianz Partners and Skift’s branded content studio, SkiftX.