Skift Take
Naysayers might say subscriptions don't work in the travel space, but proponents say it's about execution. The keys to being successful are adaptability with the changing times, customer needs, and authentic relationship building — easier said than done, of course.
The subscription business model is nothing new, its origins dating back to when newspapers began offering home delivery and the milkman brought milk to your front door. Evolving over time, modern-day subscriptions are becoming a hot commodity for the travel industry to boost revenue as it rebounds.
If you're not sure how to modernize or implement subscription offerings in your travel brand, experts on Wednesday offered their advice at the Skift Loyalty and Subscription Summit online in discussion with Senior Travel Tech Editor Sean O'Neill.
"The first step for anyone thinking about implementing or building a subscription is orienting everything around your customer, and it seems like a no-brainer," said Amy Konary, founder and chair of Zoura's The Subscribed Institute. "Of course, we care about our customers but it's not so much just understanding your customer but understanding what they're trying to achieve. What is it that they're trying to get out of travel? Or hospitality, or an experience, whatever that might be.”
With 20 years of experience in subscriptions, Konary emphasizes that customers aren't a monolith, and doing some segmentation to try to create some groups is essential. It boils down, she said, to truly understanding the outcome customers are trying to achieve.
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