Every digital journey can be traced down and categorized as an account. Keeping these in context to corporates, the categorization is called a business travel account. Business travel account management as the name suggests is the process of managing business travel accounts of employees or individual trip takers. These accounts enable the different service providers such as travel management companies, travel agencies, airlines, hotels, etc. with the necessary data to dispatch their services efficiently. Whenever an employee or individual books for their trip and carries out travel, they leave a long train of digital footprints.
Key aspects of business travel account management include
1. Client Relationship Management
Thinking of as a travel management company, corporate travel account management becomes highly important to provide excellent client experience. Building and nurturing strong relationships with corporate clients is essential for long-term success. The account managers are the primary contact of the organization with the TMC for booking regular trips. To save time and effort managers should be able to fetch previous data and provide preferred travel as per the company’s requirements.
2. Account Customization
One of the keys to having a comprehensive set of business travel data is flexibility in providing trip services. Account managers utilize these data and provide tailor-made solutions and faster adaptability to the change in trends than manual tracking. Understanding the spending pattern, services benchmark, negotiation preferences, and other such data threads, will help the managers offer personalized trips to different clients.
3. Contract Negotiation
Contract negotiation is one of the top aspects of business travel account management. While business travel is a frequent phenomenon worldwide, providing accurate discounts and exclusive benefits to returning customers becomes essential for high retention. Therefore, business travel accounts provide the necessary data that tells airlines, hotels, and car rental companies about the booking pattern. These patterns can be used to efficiently target their customers with customized discounts and contracts.
4. Client Retention
Account managers are required to go to lengths to retain their customers. To achieve high retention rates, client satisfaction and loyalty are paramount. Account managers should actively address concerns, feedback, and evolving needs to maintain strong, long-term relationships that benefit both the client and the service provider.
5. Travel Policy Development
As per the requirements of the corporation, guiding clients and forming a travel policy is crucial. The account manager has to get in touch with the travel admin of the organization and fine-tune the policies. Travel policy should consider the minutest of details so that no discrepancy remains between the employee and the client. The policy should be able to enhance cost control, ensure safety, and ease booking and analytics.
Suggested Read: 15 Tips On How To Plan Successful Business Trips
6. Traveler Support
Offering 24×7 support becomes critical while sending employees on international travel. Therefore, knowing the whereabouts of all the client’s employees traveling for business is highly important. Business travel accounts can make the process of tracking and analyzing the account smoother and time efficient. This includes facilitating access to emergency services, offering guidance on visa requirements and documentation, and providing information about travel insurance options.
7. Account Growth and Upselling
Identifying opportunities for account expansion is a strategic aspect of account management. Account managers recognize where additional services or new travel offerings can benefit clients. By employing cross-selling and upselling tactics, they aim to increase account revenue while providing clients with valuable options that align with their evolving needs. Additionally, this will help the account manager become better with their offerings.
8. Training and Education
Providing training and educational resources to clients and their employees is a key responsibility. This helps ensure a deep understanding of travel policies, industry best practices, and emerging technologies. Account managers empower clients with the knowledge and tools needed to navigate the intricacies of the travel industry, ultimately optimizing their travel programs and enhancing overall efficiency.
Business Travel Account Managers play a crucial role in guiding clients toward the achievement of travel objectives. By helping clients optimize expenses, navigate the complexities of business travel, and stay informed about industry trends and innovations, they contribute significantly to the growth and success of corporate travel programs. Their expertise and proactive approach to client service are instrumental in building lasting partnerships and driving positive outcomes in the realm of business travel management.
Suggested Read: Business Travel Policy: Importance, Benefits & Implementation
Business Travel Account Management FAQs
What is business travel account management?
Business travel account management refers to the booking, managing, and analyzing individual account data of corporate travelers for better service and high profits.
What are the aspects of business travel account management?
Client relationship management, contract negotiation, travel policy development, and training employees are some of the top aspects of travel account management.
How do account managers work on client retention?
Account managers provide solutions for client concerns and feedback. They also offer numerous loyalty and client retention offers.
How does business travel account management support travelers?
Business travel accounts help in offering 24x7 support for employees on international travel and tackle emergency conditions.