INSIGHT
AM reviews under the microscope
‘Insight is information beyond the obvious. Insights give you the intel you need to make more informed decisions about the future direction of your travel program.’
So says our Head of Account Management for FCM Australia, Renos Rologas.
“You can have all the data and reporting you want, but without solid interpretation of what that data means for your travellers and your travel program. The numbers don’t mean anything on their own without analysis and interpretation,” Renos said.
Do you have an Account Management Insight Meeting coming up? It’s the perfect opportunity to squeeze some insights out of your account manager and make sense of all the data you have. Here’s what you should look to get out of your next review.
Treat your account manager like your GP
Account managers regularly get compared to general practitioners. They are an essential resource that keep a health check on your travel program. They bring value through data interpretation and analysis, travel program planning, market knowledge, strategic thinking and project management skills. Importantly, a proactive account manager will bring a ‘challenger mindset’ to an Insight meeting.
“The benefit of being an external stakeholder is that we can analyse a travel program or travel process from an objective point of view and challenge the client to change, based on best practice,” Renos said. “Challenging the status quo for a client and their business may not always be received with open arms but even if it’s just a conversation, our job is to get businesses thinking differently about situations and to pose the ‘what if’ scenario.”
A strong account manager will bring solutions to a customer for issues or problems they may not even be aware of yet.
“When an account manager has a solutions-focused approach to travel program management, clients can be confident their program will continue to evolve in line with industry ebbs and flows.”
An Insight meeting is a good opportunity to talk to your account manager about any business travel challenges your company has. Would you like more automation in the booking process? Ready to implement a better online booking tool? Think your hotel program needs a revamp because of new business growth? Whatever the issue is, your account manager will help your business and travellers work through any challenges with solutions that suit your specific needs.
“Problem solving and solutioning are a central part of the account manager role,” Renos said. “Insights meetings are the perfect forum for discussing any program issues and to get insights from program reporting to help you enhance your performance moving forward,” Renos said.
“We also want to know what’s going on with your business more broadly so we can align the direction of the travel program strategy with your wider business goals.”
Review your program in detail
Each Account Management Insight meeting will most likely have a different focus depending on what your business goals are for the quarter or at that time and what period of time your review covers. Go through your travel program review and the data in detail with your account manager to understand where the opportunities for improvement are, according to the performance of your key travel metrics for air, hotel and car hire. Insights will come from your booking and buying data. Your account manager will be able to benchmark how your travel program is performing against the market and your industry peers.
Account Management Insight meetings are also a good time to celebrate your travel and or business achievements. Let your account manager know if your business has any major developments or changes in the pipeline and vice versa.
Use the opportunity to:
- identify any current or future risks
- explore solutions for any program or process trouble spots
- ask your account manager if there are any new traveller tools or tech platforms in market that might elevate your program
- discuss the ROI your business is getting from business travel
- look at your upcoming focus areas and plans.
Confidence and priorities
An Account Management Insight Meeting is a good time to prioritise. You should leave your meeting knowing what’s impacting your travel program, what might affect your program during the next few months and what needs to change or be enhanced to attain more time, cost or process efficiencies.
Your plan of action may take into account various challenges including:
- Anticipated air and hotel price increases
- Heightened company focus on sustainability goals
- Travel changes brought on by airline or hotel capacity issues
- New visa or arrival/departure procedures around the world
- Traveller sentiment about business travel
- Cost avoidance or cost mitigation strategies.
Ask your account manager about what industry and or business insights they can provide to help you understand what’s happening across the industry. Are you or your travellers signed up to your TMC’s marketing communications for resources such as industry reports, monthly newsletters, airline or hotel offers or even travel disruption notifications?