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Academic research shows importance of Bank Travel

SALEM, Ohio — To better serve its members, BankTravel Conference worked with the Missouri Bank Travel Exchange on an education outreach program. The education session occurred at the Missouri Bank Travel Exchange taking place in St. Louis at the Crowne Plaza Clayton Hotel.

Charlie Presley of BankTravel met with the delegates to discuss phase II of the Bank Travel/Loyalty Program research that is being conducted by Kent State University. The research is a follow-up to the 22-page document that was produced in 2012.

The 2012 paper was the first in-depth research conducted expressly for bank clubs to pinpoint the value of travel clubs within banks and financial institutions. The study found that 89 percent of traveling bank clubs retained existing members and 90 percent found new customers as a result of operating a travel club.

The research was conducted by Kent State University and underwritten by Norwegian Cruise Line.

Phase II research will include interviews with the bank travel clubs members as well as depositors the are not members of the travel club. Feedback from bank travel club directors is being collected and research results will be available this summer.

The “Bank Loyalty/Travel Programs” executive overview and research findings are available for download free of charge at www.banktravel.com.

“This is a very valuable document that every person in the group travel industry should read,” said Presley. “It gives great insight to our travelers and reminds us that we are all in the loyalty program business.”

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