Travel Industry Recovery: 5 Ways Your Travel Company Can Come Out On Top

July 26, 2022
Jen Corley
7 min read

Despite the global difficulties experienced over the last two years, exciting times lie ahead for the world of tourism with leisure, wellness, educational, and faith-based travel all on the rise once again. 

During this phase of the travel industry’s recovery, discerning travelers are looking for unique destinations and experiences that are off the beaten path. This presents players in the travel industry with both a challenge and an opportunity.

It’s challenging to meet the market in unknown territory. But, with the right practices and processes to sharpen your business strategy and operations, you can seize the opportunity presented by the pent-up demand of eager travelers.

In this guide, we present you with five ways your company can come out on top in the race to re-open global travel. 

51 tools to grow your travel business e-book on an iPad

1. Leverage Analytics To Inform Business Decisions

There’s so much to learn about your customers and their purchasing journeys. By collecting data from their digital touchpoints, you can analyze their interactions with your travel company.

This information might come from their website browsing, activity on social media, app or software usage, engagement with your marketing campaigns, and more.

Delve into the details around their actions: how long do people spend on particular web pages? What type of content gets the most views? What do your clients purchase from you, and how often?

You can uncover how travelers find you online, how they interact with your products, and what information they consume.

Examining this data has so many benefits for your business. Using the right metrics, you will identify windows of opportunity to engage people and close sales.

In short, monitoring the right metrics can guide you in making data-driven decisions that allow you to be proactive and anticipate travelers’ needs. You can improve the customer experience and deliver personalized online interactions that drive engagement.

What Can WeTravel Do For You? 

If you’re a WeTravel Pro subscriber, our Reporting Dashboards are an essential tool for analyzing both account- and trip-level analytics. 

We built these dashboards to empower you with real-time analytics that can assist you in running day-to-day operations as well as making key strategic decisions. 

travel industry recovery

View gross and net payments collected, the total value of sales made, projected future cash flows, and much more. Filter your view by desired date range, trip(s) included, and currency in order to see a customized overview of your business activities on WeTravel.

Additionally, WeTravel Pro customers can connect Google Analytics (GA) with WeTravel. This allows you to track the performance of your trip pages or booking buttons installed on your website. 

You can take this a step further by enabling Ecommerce Tracking in GA. This will give you insights into your conversion rate and traveler actions after passing through your trip checkout flow. From there you can determine whether you need to take action to reduce booking friction. 

2. Do More With Automation

Automation can benefit your travel business in many ways. It can save you time, reduce errors, and streamline your financial processes. It can also improve communication among your team members and allow you to work better together, no matter everyone’s location.

As part of your travel company’s day-to-day operations, you likely work with various software apps and need to transfer information between them. This is where an API (like Zapier) that supports automation comes in.

An application programming interface (API) is used to integrate applications and databases, allowing better communication between systems.

What Can WeTravel Do For You?

Using the WeTravel platform, you can automate many of the tasks your company carries out on a daily basis. 

WeTravel Pro users can connect WeTravel to over 2000 other web services through Zapier, no coding required.

The platform’s automated connections, called “Zaps,” allow data to flow from WeTravel to countless other platforms including accounting (Quickbooks, Zero), marketing (Mailchimp, Constant Contact), and CRM (Salesforce, Hubspot) systems. 

If you’re working with complex or custom software programs, or have highly specific requirements in terms of your API usage, WeTravel also has its own public API. 

Your developers can work with our API to send data to and from WeTravel, integrating it with virtually any other platform. 

3. Optimize Cash Flow To Support Growth

Every business needs a good grip on its cash flow in order to succeed. Get this right and you can strengthen your relationships with clients, staff, and suppliers.

From a tour operator’s perspective, cash flow optimization requires capabilities including instant online payments from customers, quick access to cash upon payment, and flexible means of transferring funds globally, 

In short, an efficient cash flow management system means you’re equipped to collect clients’ payments on time. From there, you can pay vendors when bills are due. In all, this makes your business run like a well-oiled machine. When this happens, your company can help the industry bounce back as you engage the services of suppliers around the world.

What Can WeTravel Do For You? 

WeTravel gives you features like instant payouts, vendor transfers, and the WT Card, tools that will efficiently turn your customers’ payments into working capital to run your business. 

travel industry recovery

With this functionality, you’ll be able to easily direct funds to cover operational expenses, build stronger relationships with your vendors, and maintain your company’s overall financial health.

Instant Payouts 

With instant payouts, you can pay out or transfer USD funds as soon as bookings come in; no lock-up periods, transfer minimums, or administrative hassles.

Vendor Transfers 

This feature allows you to transfer funds, free of charge, from your account to your Vendors/Partners in seconds within WeTravel.

WeTravel Card 

The WeTravel Card gives you the security and flexibility of a credit card without the risks. Even better, funds are available immediately. Your WeTravel balance can be transferred to your WeTravel Card within seconds. 

4. Look For Opportunities For Easier Cooperation 

The right software tools can give your team the ability to set business objectives easily and run collaborative processes smoothly.

Across sales, customer service, accounting, operations, and any other business departments, your employees need tools to synchronize their various functions. 

Using software to amalgamate your team’s processes instead of using manual, error-prone methods can create a much more streamlined (and successful) approach. 

What Can WeTravel Do For You?

The Team Members function on the WeTravel dashboard allows you to give colleagues, co-organizers, and other key stakeholders access to manage trips on your behalf (and can restrict them from accessing funds). 

If you’re looking to give your accounting or finance staff team member access, with the ability to view reporting across all of your trips, that’s possible too – you can set permissions for each team member according to their needs. 

travel industry recovery

The cloud-based tools that are built into the WeTravel trip management dashboard are also easily integrated with collaborative planning tools like Asana, Trello, or Monday.com. 

Paired with all of the WeTravel functionality that simplifies project management, these planning platforms can create even greater synergies between your team members, suppliers, vendors, and other collaborators. 

5. Maintain Consistent Focus On Security 

Earning your clients’ trust and keeping their data and payments secure is paramount to your travel company’s success. That is why it’s vital to consider what you can offer to prove your trustworthiness – and build your relationships from there. 

There are several digital security measures you can put in place to improve how clients interact with you online. An example of this includes 2-factor authentication (2FA) functionality.

2FA provides an extra layer of security for gaining access to online accounts, transacting online, and submitting personal information. This is really important when you’re making payments or collecting travelers’ personal information.

Another feature that simplifies processes is the use of e-signatures. This tool allows the signing of electronic forms without the need for printing anything out. 

It is also a security measure as it can prevent unauthorized access to sensitive data. This is because once the signature has been added, the document is ‘locked’ using Public Key Infrastructure (PKI). This secure technology ensures that the electronic signature isn’t tampered with after the e-signature is loaded.

What Can WeTravel Do For You? 

Grow your business while building your client’s trust with WeTravel security features that include legally-binding e-signatures, document collection via file upload, and 2FA

travel industry recovery

Our security offerings will keep your processes consistent with the latest technology and best practices.

For more information about how to protect your travel company online, check out our recent cybersecurity webinar. This webinar will help you to understand data security, it will give you useful tips on email and password security, and teach you how to detect and avoid phishing and ransomware attacks.

The Industry’s Recovery Is Underway; Be Among The Companies That Will Emerge As Leaders

One thing is certain: Travel will always bounce back due to the innate need that people have to explore. They want to have new experiences, heal, create communities, and see the world through new eyes. 

As a travel company or tour operator, working in an industry that has dreams at its core means that we need to rise to the challenge. We must make it a mission to nurture and turn those dreams into reality. 

With the right tools to give your customer a positive and seamless experience, you’re well positioned to deliver on this mission. 

How can WeTravel assist and what sets us apart? 

We listen to your needs and work hard to implement problem-solving features within our payment, software, and fintech solutions. We understand the value of every small advantage you gain over your competition. We want to grow with you and provide you with the right tools to take your business to the next level.