How Loyalty Programs Can Leverage New Trends in Corporate Travel

Save your spot!

Millennials are all about working hard and playing hard. According to MMGY’s Global survey, 81% of millennials associate business travel with happiness and job satisfaction. Loyalty programs are in a prime position to leverage the largest group of american travelers (7.7 trips annually) and make their needs a reality.

To better understand Corporate Millennial Travelers (CMT) we analyzed how they collect and redeem points in their Loyalty programs.

IN THIS WEBINAR YOU’LL LEARN,

  • What motivates CMT to select a loyalty program.
  • How CMT engage with their loyalty program to earn and redeem their points.
  • What they value the most in a loyalty program.
  • About the pains CMT have when using loyalty programs.
  • How to adapt your loyalty program to CMT and new trends.

WEBINAR ASSETS

Don't miss this webinar!

Save your spot!

Participants

Camila Orduño

UI/UX Designer

Basil Elotol

Founder & Chief Executive Officer

SHARE

How Loyalty Programs Can Leverage New Trends in Corporate Travel

Millennials are all about working hard and playing hard. According to MMGY’s Global survey, 81% of millennials associate business travel with happiness and job satisfaction. Loyalty programs are in a prime position to leverage the largest group of american travelers (7.7 trips annually) and make their needs a reality.

To better understand Corporate Millennial Travelers (CMT) we analyzed how they collect and redeem points in their Loyalty programs.

IN THIS WEBINAR YOU’LL LEARN,

  • What motivates CMT to select a loyalty program.
  • How CMT engage with their loyalty program to earn and redeem their points.
  • What they value the most in a loyalty program.
  • About the pains CMT have when using loyalty programs.
  • How to adapt your loyalty program to CMT and new trends.

Participants

Camila Orduño

UI/UX Designer

Basil Elotol

Founder & Chief Executive Officer

WEBINAR SUMMARY

Corporate Millennial Travelers (CMTs) motivations behind Loyalty Programs

This text is extracted from minute 5:26

The first thing we needed to know were the motivations behind CMT to select a Loyalty Program.

  • Job: Even though CMTs already knew Loyalty Programs existed, they started using them due to frequent business travels.
  • Recommendation: of co-workers as a result of good experiences with Loyalty Programs; and partnership, is easier and more fun to travel with work colleagues.
  • Location: it is easier to be affiliated to a company that is located in the city they live. It gives CMT the opportunity to find better flying routes, schedule times, and a wider range of places to stay (hotels).

How Millennials Book for Corporate Travel

This text is extracted from minute 6:39

Here is where Reward Programs come to the equation. We found there are two types of Corporate Millennial Travelers, which are critical when understanding their behavior in the booking process; it tends to be very different between one to another:

  • Employees at Small companies/startups (1-150)
  • Employees at big companies (+150)

Millennials have this natural feature to look for independency and meet their expectations.

“I like to do things on my own and not depend on anyone. I don’t think travel magers will care about the details as much as I will.”

So how is the booking process for each group?

Small companies:

  1. Google Flights: they can compare the different prices, airlines and options.
  2. Airline website: once they identify an offer that meets their expectations they go directly to the airline website to complete the booking.

Big companies:

  1. Business Travel platforms: Points, TripActions, Concur, Egencia
  2. Google flights: occasionally, just to check if they are actually getting the best option.
  3. Complete the booking on the Business Travel platform, this way is easier for the company to keep track of the expenses.

Corporate Millennials Travelens’ Main Considerations When Booking

This text is extracted from minute 8:46
  • Time: They want to make sure they are getting on time to their business appointment. The minimum possible layovers on the flight, the better.
  • Price: Business trips are usually under a budget, so corporate millennial travelers are going to select the best option but meeting their constraints.
  • Reward Program: they are going to select a hotel or an airline that is affiliated to the reward program. Is not important if it is made with a corporate or a business card, as long as it allows them to earn the necessary points and maintain their level.

Millennials value convenience more than price, whether it is for corporate or leisure travel. They are all about experiences, for example: “How close is the hotel to the attraction/appointment.”

Keeping track of Points, Status and Benefits in Loyalty Programs

This text is extracted from minute 12:07

Most  Corporate Millennial Travelers (CMT) are affiliated to multiple Rewards Programs, why is this? Because they want to be prepared in case they might need in a future one of them.

Each program has differents strategies and conversions of the points, which represents a struggle when trying to keep up and meet the lineups of each one of them.

Maintaining Status and Leveling Up

Is not as easy as it may seem, CMTs need to take very specific steps in order to get valuable options as rewards:

  • Booking with participant airlines/hotels.
  • Spend a specific amount of money.
  • Travel long distances so they can get a specific award
  • Many others, they are not even aware of

Top Pains When Redeeming Points

This text is extracted from minute 14:08
  • Price checking:

Is time consuming, they need to check different sources and confirm if they are actually getting the most value out of their program.

  • Uncertainty:

Not sure about the value, not sure of when to redeem those points, when is the right time, will there be a better option?

  • Inconsistency:

Each company has its own metrics, points value and status, is difficult for CMTs to keep track of them and know what they can get between one program and another.

  • Unclarity:

Not knowing exactly what they are going to get until they read the fine prints. Makes the process tedious, longer than it should be, and creates false expectations of the rewards; resulting altogether in a bad experience.

  • Unreachable Options:

The perception of value in their points. They feel they need to spend a lot of money or travel a lot of miles just to get a valuable option in their Loyalty Program.

  • Constrains:

Of the points they accumulate in the program. Not being able to transfer them within the different accounts, the expiration dates of the points.

Perks of Being Loyal Programs

This text is extracted from minute 18:18

We found the majority of the participants get their points of corporate travel and use them in leisure travel. CMTs never use them for business travel, since there will always be a way for the company to reimburse those to them. Business travels are a way to maintain and get points faster because it does not have an impact on their own finance.

If the corporate travel has an interesting location, CMTs will mix leisure with business and stay longer in that place turning the travel into a quick getaway. Using the points to reserve another night at the hotel, buy a cheap flight for a friend/loved one.

A new trend is born.

BUSINESS + LEISURE = BLEISURE

The line between professional and personal life is starting to blur out. Travel providers must keep this in mind, is a good opportunity to create better and more personalized experiences for Corporate Millennial Travelers (CMTs)

And we certainly believe is going to stay in the travel industry for a long, long time.

What rewards do corporate millennials travelers’ value the most?

Above all the different rewards a program may offer, they value the most the ones that help them cut down costs.

How to Boost Your Loyalty Program Strategy

This text is extracted from minute 24:00
  • Be straightforward:
    • Use EASY METRICS in your point system
    • Be CLEAR from the start on what they are getting and what the steps to level  up.
  • Be flexible
  • Give them the option to TRANSFER points between different companies.
  • Do not be to harsh
  • Let the point have a LONG LIFE, if not eternal.
  • Users do not like to be forced to book a flight just to keep their status/points.
  • Keep it simple
  • The simpler and the faster is to use your platform, the happier the user will be.
  • The ideal platform allows EVERYTHING to be done in ONE PLACE.
  • Remember to to do this in a consistent and unified way.

Remember PERSONALIZATION, so communicate the benefits that are relevant to each group of people you are targeting. Build an ecosystem where you can use your point beyond free flights/nights, partner up with experiences platforms in order to introduce more freedom and options to your users, making it a truly personalized experience.

Watch more Webinars