Member-based groups like trade associations, professional clubs and unions must provide individuals with benefits and value-adds to keep them engaged and encourage new sign-ups. Exclusive travel offers and savings are very effective incentives for membership programs of all sizes to boost retention and revenues.
Yet most member-based groups don't have the right technology or in-house solutions to deliver those incentives. Without access to a comprehensive range of travel options, deep discounts or travel booking capabilities, providing additional member benefits that drive growth will remain a challenge.
Most major travel brands such as airlines or hotel and timeshare groups have well-developed loyalty programs that are significant revenue and profitability drivers. But those programs typically don't provide all the travel options customers expect to book through travel brands' direct channels.
Many established programs are also challenged by integrating new travel options and a broader range of inventory into their loyalty redemption process without adding more resources and negotiating with many one-off suppliers.
Although many financial services brands, including banks, credit unions and credit card providers, offer rewards programs, most don't have the breadth of travel options or lifestyle benefits that customers and cardholders expect today. And that's a problem if they want to encourage spending within their ecosystem.
Financial brands also face multiple challenges in delivering tailored travel recommendations and offers that drive specific outcomes, lowering points liability, and increasing program participation and frequency.
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