5 Benefits of Knowledge Management for Travel and Hospitality

By Monica Kohn   |   May 30, 2019
5 Benefits of Knowledge Management for Travel and Hospitality
The travel and hospitality industry is extremely competitive, and margins are thin. Still, travelers demand great customer experiences. Delivering personalized customer service increasingly relies upon knowledge management for travel and hospitality companies.

Your customers’ problems are resolved quickly across each interaction, which is critical for market growth.

In fact, travelers are using the internet to locate the best deals, read peer reviews, and connect with travel and hospitality service providers. To keep a highly honed competitive edge, providers need to seek out aggressive differentiation and the capability to contact consumers whenever and wherever they need to connect with them.

The travel and hospitality industry has had for more internet-influenced changes that almost any other industry. Customers demand real-time data and online self-help. In addition, they want a choice of contact channels, including options to have responses by email and text rather than talking directly to an agent over the phone.

Knowledge Management for Travel and Hospitality Solutions

1. Self-service Solutions Can Protect Razor Thin Margins

Transaction value can vary significantly from high-value interactions enhanced through direct contact to lower-margin transactions during which an agent intervention could positively impact profitability. Knowledge management for travel and hospitality organizations can provide an array of web self-service solutions such as intelligent escalation to email, collaboration solutions, and web chat.

2. Superior Service Is a Key Element to Choice

With a wide selection of competing companies from which to choose, poor customer service leads the reasons why businesses lose customers. Some truly agile companies in the industry have created innovative, distinctive customer interaction hubs with knowledge management for travel and hospitality with such options as web collaboration, email response management, and web self-service.

3. Consumers Browse Prior to a Purchase

Customers are increasingly surfing the web to inform or implement their travel plans. An adaptive self-service product can help your company offer multiple ways of finding data and solutions. Web chat, chatbots, and other products facilitate efficient resolutions on the first encounter.

4. Channel Choice Is Important to Consumers

Your customers are increasingly expecting to easily obtain resolutions to issues via the internet, and in particular over mobile devices. They want to choose their preferred method of communication, including solutions that circumvent the live agent.

5. Handling High Volume Customer Contact

The type and volume of customer queries can vary significantly depending upon the event or competitive offers. Knowledge management for travel and hospitality can support spikes in volume created by events and special promotions. It will enable your company to receive alerts to potential interruptions in customer service, closely monitor trends, and disseminate responses across many channels.