Jens Wohltorf, co-founder and CEO of Blacklane, discusses the rise of personalisation in travel tech and what that means for the wider industry

One of the biggest trends in both technology and travel over the last ten years has been consumer empowerment. The growth of price comparison and review sites has given customers more insight into the relative merits and value of travel services. Social media has provided an unprecedented outlet for recommending services and businesses to connections and for complaints that improve the travel experience.

The balance of power shifted further in 2014, with the explosive growth of services based on the sharing economy, and the resulting conversations about them. This year will see no let-up in the pace of change. The personalisation of travel will force established players to further adapt and offer new players opportunities to further disrupt the travel market.

We see four key factors that will make 2015 the year of tailored travel technology:

1.  Data

Whether called big data, business intelligence, or some other term, companies’ new customer insights will make a huge impact on the customer experience. Companies are increasingly savvy about how to interpret their data to deliver more intelligent, tailored solutions to corporate and individual customers. Nearly half of travellers are happy to share their data in the interests of delivering a more personalised experience, according to a study by Amadeus, and many travel tech companies are making the most of it to improve their service. At Blacklane, for example, better data shows which new markets to launch in, how many cars per service class are needed at a given time and what fixed prices are needed to optimise supply and demand.

2.  Mobile-focused offerings

In 2015 these will continue to boom. Mobility empowers travellers to take advantage of apps and geo-location services on phones and tablets, meaning that travel companies can deliver more relevant and timely services to their users. Whether it’s booking a car for a user’s current location or finding nearby activities with last-minute deals, mobility will only improve life for the traveller and strengthen relationships between travel companies and their customers.  

3.  Feedback loops

The third driver – feedback loops - is bringing new power and relevance to rating sites, whether travel sites like TripAdvisor or local rating sites like Yelp and Foursquare. People can increasingly read reviews by their networks of connections, handpicked experts or people with similar profiles and preferences. This will get them closer to seeing opinions that most closely match their own and businesses that best meet their travel needs.

4.  Flexibility

The last key trend we see is flexibility. Travel companies, including Blacklane, are building increased functionality for customers into their products based on travellers’ dynamic needs. This ranges from more flexible cancellation policies to services like easy invoicing and payment options in multiple currencies. It also includes various ways to provide customer service. Small and large brands alike are answering customer questions over phone, email, online contact forms, Twitter and Facebook – with more certainly to follow.

The travel industry has always pushed technical innovation and as a result is no stranger to change. Businesses that embrace the challenge of innovation and adapt to the changing needs and demands of consumers will have little to fear in 2015. Indeed, recognising the disruption of personalisation will allow travel companies and start-ups to continue to meet the needs of their customers. The result should be a better and more empowered experience for both business and leisure travellers.

This is a guest post by Jens Wohltorf, co-founder and CEO of Blacklane.