Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)

Most FFP members think their data is unsafe

The study, entitled 'Loyalty data security: Are hospitality and travel companies managing the risks of their rewards programmes?', found that few frequent travellers appear to be fully aware of the wider risks involved when loyalty data - including travel schedules and other personal data - is lost or stolen.

Roughly one in seven (15%) are simply concerned that a breach would result in a loss of loyalty points, while the majority of travellers (76%) worry about the loss of credit card numbers.

"The study indicates a disconnect between travellers' expectations and perceptions about the security of their personal data," said Deloitte & Touche LLP partner, Charles Carrington, author of the study. "Travellers consider protection of their physical security a basic expectation when they're in a hotel or in the air. This responsibility now extends into the cyber world. Travel companies increasingly request that customers share a detailed level of personal information. These same companies need to roll up their sleeves and move beyond mere policy compliance to ensure that customer data is truly secure. Failure to do so could not only frustrate, even endanger, travellers, but also cause serious reputational damage and revenue loss."

While rewards programmes are often a critical way for airlines and hotels to build customer loyalty, simply offering frequent traveller points is no longer enough. As a result, airlines and hotels are continuously looking for ways to personalise programmes and tailor travel experiences. However, the study reveals the low level of trust in these companies' security standards is restricting the amount and type of information travellers are willing to share.

Most consumers (93%) are willing to share travel preferences such as seating choices, and nearly three- quarters (74%) are comfortable sharing their food and drink preferences. However, many draw the line at sharing more personal information, such as hobbies (32%), geolocation (28%), and health and fitness records (7%).

Despite Millennials typically being more receptive to sharing personal data with companies, the study revealed only a slight increase in the level of trust with loyalty programmes - 37% will share hobbies, little more than one-third (34%) will share geolocation, and just 14% are comfortable sharing health and fitness records with loyalty programmes. Overall, only 40% of millennials believe their personal information is secure.

This reluctance to provide more personal details could limit the degree to which airlines and hotels will be able to customize experiences to engage their most valuable patrons and drive repeat business.

The study also showed that any breach of loyalty data would have a significant impact on the brand involved. Nearly one-quarter (23%) of survey respondents said that should such a breach occur, they would be less likely to use the company responsible, and 15% said they would be a lot less likely to do so.

"Frequent travellers are often the most valuable customer segment for hotels and airlines," concluded Carrington. "Companies that can persuade these customers to share detailed information about their interests, hobbies and preferences will create a highly valuable and continuous cycle: the more information they gather, the more they will be able to personalise the travel experience, and the tighter their bond with customers. But if they fail to live up to their custodial responsibility to secure customer information, that bond can be shattered in an instant."

The study also found that the lack of confidence consumers have in the security of their frequent traveller accounts is not leading them to be more vigilant in their security practices. Only 21% of survey respondents change their passwords at least once per quarter, and more than half (53%) use the same password for other accounts. Additionally, 41% of consumers indicated that they had little or no knowledge at all about travel companies' privacy and security policies of their frequent traveller programmes.

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)