The Tech Wave
In today’s fast-paced, technology-driven world, the luxury bus industry is undergoing a game-changing transformation, and one of the key changes is the transition from traditional (offline) bookings through agents to online booking systems. This transition holds immense promise for the industry, offering a ton of advantages that not only streamline their operations but also improve the overall customer experience.
Traditional Booking Methods
Offline bookings, an age-old booking method, are increasingly becoming a hindrance in an era where technology is reshaping the travel industry. The inherent drawbacks of offline bookings are numerous and, most notably, revolve around inefficiency and limited reach.
With offline bookings, bus companies rely on agents that are often situated at physical ticket counters, to facilitate reservations. This dependence on such middlemen not only results in substantial operational costs, which can disrupt profit margins but also introduces a potential for human error in the booking process. Additionally, the businesses have to pay certain commissions to the agents and there is always a price disparity between the online and offline bookings, with the online ones being more favourable. All of this leads to a lack of transparency between the businesses and their target customers, posing a risk to customer loyalty.
Furthermore, offline bookings at as a constraint to the business’ reach and accessibility, as customers are required to physically visit a ticketing office or interact with an agent, limiting the potential customer base. This outdated approach limits flexibility and real-time updates, making it challenging to adapt to dynamic scheduling needs or respond swiftly to changing market conditions.
As the world runs towards digital convenience and instant accessibility, the limitations and inefficiencies inherent in offline bookings can stifle growth, alienate tech-savvy potential customers, and ultimately hinder the long-term sustainability of the intercity bus industry.
Brand and Digital Image
Not only this, online bookings help increase the trust of the customers in the brand since through online modes, they have a say in the exact seat they want to travel in – adding to their overall experience.
It also conveys to the customers that the brand that they’re choosing to travel with, is a modern one – that understands and adapts to the trends and market changes, and cares about their customers.
Additionally, it improves the reach of your brand and business to the customers on a level, that cannot be compared to the offline modes.
In light of these elements, it becomes increasingly evident that a transition to online bookings is not just a luxury but a strategic necessity.
In this digital age, where convenience and speed are of most importance, the luxury bus companies can no longer afford to rely solely on the traditional methods of bookings. Online bookings represent a huge leap forward, enabling operators to maximize their potential and remain competitive in a rapidly changing marketplace. This shift towards online bookings is poised to revolutionize the industry, offering bus companies a more cost-effective, efficient, and customer-centric approach to managing their services.
Sciative & Viaje’s Boosts:
Sciative has been able to stay ahead of these trends and stay prepared always owing to its class-apart AI powered dynamic pricing product for the travel industry, i.e. Viaje.AI .
Viaje is able to read these trends through its sophisticated market intelligence features and is able to increase the online bookings by an average of 15.75% across all its clients, with a few of them going upto 53%. Not only does Viaje.AI significantly increase the online bookings – but also makes sure to do so at better and more favourable prices.
In response to a specific request from our client to improve their online bookings, Viaje’s dynamic pricing has achieved outstanding results, since now, the online booking % of the business has soared to an impressive 99.34%.
Viaje’s dynamic pricing strategies effectively shield its clients from any revenue leaks by giving significant lifts to their ASPs & Revenues. While one of our clients was only able to increase the revenues by a mere 7% in the peak-demand period without any increase in offline ASPs either, after using Viaje, they were able to improve their online bookings and online revenues by 12% and 22% respectively.
On average, we elevate client revenues by 23-27%, with some clients experiencing an outstanding growth rate of up to 54%. These numbers soar to an unparalleled level during the peak seasons.
For most clients, offline bookings have dwindled to less than 10% of their total occupancy since partnering with Viaje.
Embracing online bookings eases operations, enhances customer experiences, and signals a modern, customer-centric approach.
Sciative’s dynamic pricing solution delivers rapid results, with better-rated online bookings. This client success showcases our commitment to providing immediate value.
To keep up with this dynamic environment, it is imperative to learn how AI pricing engines can help you do that.
Book a free demo of our automated retail solutions or contact our optimization experts at info@sciative.com.
To learn more about our AI-powered dynamic pricing tool VIAJE.ai, reach out to us.
