Invest in your customers for the long term – AIRDA
The chairman of Indian timeshare body the All India Resort Developers Association (AIRDA) says investing in customer relationships – and meeting their evolving needs – is critical to success in the timeshare industry.
In his latest address to members, B. S. Rathor, who is also principal advisor of the AIRDA Executive Committee, said investing in your customer is something he has always believed in.
“[It’s] nothing new, if you view it as a phrase – but can be invaluable if you translate that into meaningful relationships,” he said. “It’s an equation that goes beyond ensuring a good product, good service and good value.”
Rathor explained how the holiday needs and desires of timeshare buyers – 30-year-old ‘Ashok’ in his example –will evolve during the typical timeshare ownership period of 25 years.
“Ashok’s activity check list will change, every five years – from maybe from daredevil outdoor activity to a slowing down in pace and maturing of interests. Over the years that could even include things like golf, for instance,” he said.
“What I am leading to here, is a close monitoring of the customer as he evolves – to understand, track and maybe anticipate his changing needs and interests.”
The evolving needs and desires will also be influenced by the buyers’ family – whether that’s parents or children – and that companies potentially need to invest in generations of owners.
“The relationship with your original customer goes through a complete circle, with the potential to extend the relationship to another 25 years – and a whole new generation,” he said.
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