Value-Added Benefit Packages Appeal to Majority of Regular Travellers

Insurance products named as most popular benefit choice

Majority (54%) of regular business and leisure travellers would consider buying a value-added benefit package if it was offered by a preferred travel supplier, while a further 39% claim insurance is the most popular product in value-added packages, according to a survey from Collinson Latitude™, the leading global provider of ancillary revenue programmes.

The survey, conducted by YouGov was aimed at uncovering consumer preferences towards value-added benefit packages in the current climate, reveals that the majority of frequent travellers (39%) would opt to pay for comprehensive insurance products combined with leisure and lifestyle products.

Collinson Latitude™ quizzed UK consumers who travel regularly for business and leisure and the research also reveals:

• Travel related services are the second most popular component of value added benefit packages, with 32% of travellers stating that offerings including airport lounge access and travel wi-fi are very appealing.
• 14% of those interviewed rated mobile phone services, which include trip management and check in-services, would be an offering they would be interested in purchasing.
• Leisure and lifestyle benefits, which comprise of offerings including online magazine subscriptions and gym and spa access, was identified by 13% of frequent travellers as the service they would purchase if part of a value-added benefit package.

Collinson Latitude conducted the research ahead of the launch of its new product BenefitsPlus™, a product designed to enable travel brands to generate recurring revenue through annual fee paid membership benefit packages. Benefits range from insurance and travel related products and services as well as aspirational lifestyle and leisure benefits.

BenefitsPlus™ is designed to enhance the main products and services offered by a company and can incorporate existing partner relationships. Collinson Latitude™ has invested heavily in R&D over the last 18 months to develop the technology behind the offering and will work closely with companies to advise on the most suitable benefit programme for regular customers and loyalty programme members.

Janet Titterton, Sales & Marketing Director, Collinson Latitude™ said: "In the current climate brands need to look intelligently at the range of services they offer customers. Generating additional revenue streams, through services that differ from or enhance main services should be an important part of any business model but such offerings should not be introduced at the expense of alienating the existing premium customer base. Our research shows the type of services travellers would find valuable and by implementing these type of offerings, brands can not only increase revenue but also put in place initiatives that can build long term relationships with customers."

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