Steven Ler
UOB Stand
The industry is highly competitive and fast paced. It needs to keep abreast of customers' evolving travel needs and industry trends. The increasing popularity of Internet as a channel of travel bookings has also transformed the way travel agencies work.
UOB Travel Planners: Banking on a unique competitive edge
Travelweekly Asia speaks to Steven Ler, Senior Vice President
Head of Concierge, Leisure, MICE, Product and Marketing
UOB Travel Planners, to get the scoop on the thinking behind one of Singapore’s most successful travel agencies.
Q: What is the success strategy of UOB Travel? What keeps it ahead of the rest of the competition?
UOB Travel has grown from strength to strength over the years because one, we have been able to develop exclusive travel deals and partnerships with key travel players such as airlines and hotel partners and two, we have a close collaboration with UOB credit cards and banking segments to offer differentiated deals for customers. UOB is the only bank with a full service travel agency which has given the bank a competitive advantage.
Q: UOB recently redesigned its shop front. What is the rationale behind it and what led to it?
The previous retail experience was over the counter. But as the travel business evolves, we want to offer a more personalised travel consultancy to our customers, hence the UOB Travel centre was re-designed to offer open spaces for discussions. The lounge area also has touch screens portal for clients to browse the latest travel promotions. The touchscreen portals are also available in some of our banking halls in the city.
Q: What are the issues that keep agencies on the alert?
The industry is highly competitive and fast paced. It needs to keep abreast of customers' evolving travel needs and industry trends. The increasing popularity of Internet as a channel of travel bookings has also transformed the way travel agencies work.
Developing the right multi-channel strategy is key. Travel agencies need to be where their customers are, which means they not only need to be present on the street and on the Internet, but also through the fast growing mobile and social channels.
Another challenge traditional travel agencies are facing in their move online is to find the right mix in their online product and services offers. In order to make their online channel more profitable and alluring, they will need to include additional products such as hotels, (dynamic) holiday packages and flight related ancillary services like access to airport VIP lounges and fast tracks or priority boarding.
Q: Do you hire millennials? How do you manage to attract and keep them in your company?
Travel is like the FMCG business - fast paced and very retail-based, a good training ground for millennials to develop various skills set in sales, marketing and operations. Good performers are also rewarded with incentive trips (we are in the travel business after all). More than 50% of our leisure sales staff are millennials.
Q: What trends do you see in travel?
1. Increasing customer touch points for travel such as mobile and social. More than 95% of travelers today use digital resources in the course of their travel journeys: dreaming about, planning, booking, experiencing, and reflecting on their trip. It is important to be able to develop the right multi-channel strategy to engage the clients in the entire customer journey.
2. Increasing affluence and expectations of travellers - the luxury traveller looks for unique travel experiences (being very well travelled already). For the HNW (High Net Worth) clients, we will have to market to them through more personalised marketing.
Q: How have Singapore travellers changed in the last three years?
For agencies, the opportunity to build brand and relationships, drive incremental purchase opportunities, and add to the overall service offering, is enormous. In time to come, mobile will overtake PCs/tablets as a key touch points for travel bookings and even consultancy.
Singaporeans are well travelled and they are looking for more customized trips and for the bespoke, unique travel experiences.
Q: Do you see mobile surpassing websites and why? Is it important for a travel agency to have a mobile app and why?
Going by industry reports and consumer trends, we are expecting mobile technology to leapfrog PC-based access. The mobile experience is a whole new universe of connectivity that's local (it's always where you are), personal (tailored to your needs and preferences), and social (all your friends are there as well). And it's always on. For agencies, the opportunity to build brand and relationships, drive incremental purchase opportunities, and add to the overall service offering, is enormous. In time to come, mobile will overtake PCs/tablets as a key touch points for travel bookings and even consultancy.
Q: What is the ultimate goal of what you are trying to do at UOB?
As UOB is the only bank that has a full service travel agency, we are developing a platform to engage customers in an end-to-end process from booking of travel services on UOB Travel to accumulating overseas card spend, converging their spend on the same UOB card to enjoy greater benefits.