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HOW AIRLINES CAN INCREASE GROUP REVENUE BY 28%: A MUST-HAVE GUIDE FOR REVENUE
MANAGERS

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HOW AIRLINES CAN INCREASE GROUP REVENUE BY 28%: A MUST-HAVE GUIDE FOR REVENUE
MANAGERS

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WHO SHOULD CONTROL THE GROUP SALES FOR AN AIRLINE – SALES OR REVENUE MANAGEMENT?


 * October 4, 2021



Whenever a request comes in for a group booking, it is common to find sales and
revenue management at loggerheads.  

Airlines generally handle group bookings manually, and in the process, confusion
breaks out over whether the group’s accommodation on their preferred flight is
in alignment with the airline’s revenue maximization efforts. 

Another conflict that arises is the discounts that can be given to a particular
group. In this instance, the sales team looks to fill up the flight with
substantial discounts, while revenue management might want to hold out for
higher yield passengers.  

Making these decisions manually has made group booking a tedious process for
both passengers and airlines, which means that airlines are missing out on a
major opportunity to boost revenue.

What if there was a way to automate the entire process of group booking that
ensured the flight was filled with high-value passengers? 

Also, what if there was a way for the sales team and revenue management to work
together to adopt the best pricing strategy based on demand and the previous
buying pattern of the passengers? 


HOW AUTOMATING GROUP BOOKING CAN WORK WONDERS

Airlines can manage inventory effectively and fill their plane with the most
valuable customers if they had access to a single, web-based interface for
accepting and managing group requests, deciding the fare based on demand, and
negotiating for providing customers with competitive pricing.  

Here are the benefits of having such a solution. 


PROVIDING THE RIGHT FARES TO THE RIGHT GROUPS

With the dynamic pricing capability that an automated group revenue management
system provides, airlines can come up with optimal quotes in a matter of hours
depending on group size, load factor, demand, nature of the trip, requested
fare, etc. 

With the sales and revenue management teams in sync when it comes to policies
that affect offers, the airline can also present travel agents and tour
operators with personalized offers in real-time.


MAKING TIMELY PRICING DECISIONS

Since customers have a lot of options in the market, they have immense leverage
for negotiating fares. Airlines need to keep constant track of competitor rates
and customer history to keep potential passengers from switching. 

When the process of pricing is automated, airlines can make optimized and timely
decisions on everything from discounts to surge fees based on the season and
sector. 

This leads to more customer retention because the long quoting times associated
with manual processes inevitably lead to lost sales.  


SELLING TO THE RIGHT GROUP AT THE RIGHT TIME

Automation goes a long way in helping airlines prioritize which groups to cater
to for maximizing revenue, especially when hundreds of group booking requests
pour in. 

With the right tools, airlines can accelerate the group sales cycle, close
negotiations much faster, and even boost customer spend with personalized
pricing and product offers. 


CONCLUSION 

Increasingly, customers want better prices and more specialized offers with
group bookings. Using an automated group revenue management tool, airlines can
eliminate nearly all the conflict between the sales and revenue management teams
and make smarter pricing decisions that fuel a faster recovery from the
pandemic. This is because having a single source of data allows both sales and
revenue management to collaborate in ways that will foster efficiency and better
customer experience. 

 * Group Desk, Group Quote, Process Efficiency, Revenue Management, Sales



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