Travel is not cheap. In times when the economy is not stable, it is the profits of the travel industry that will take a sizable hit. Travel agencies usually scramble for ideas to remain in profit during these dark times. Promos and events are usually their go-to solution. These agencies go to great lengths for their promotions. More often than not, contests and freebies are their go-to promotion strategies. They drum up contests in hopes that potential customers would be enticed to join in.
They also use freebies to sweeten the deal for their customers. At the very least, the prizes and gifts that these travel agencies award to their patrons are usually related to travel. These things are usually services or some kind of experiences like diving, snorkeling, canyoneering, or breakfast buffet. Most of this stuff is intangible, other times, they cannot be attained or accessed until the customer or guest has arrived at the destination.
Awarding stuff in advance so people can get a tad confusing. If you do not keep track of which services were awarded to which person in advance, chaos is sure to ensue down the line. These are what tickets and vouchers are made for.
Vouchers are redeemable transaction bonds that have a certain monetary value. These bonds are usually only accepted and valid for specific reasons or specific products. A voucher can be for housing, food, or travel. Vouchers can also be referred to as proof of someone, usually, the voucher holder has paid for a service or product.
Vouchers that are mainly concerned in the field of tourism are called travel vouchers (though most just simply use the term voucher to refer to all types.) These types of vouchers are usually bought from a travel agency or won in a competition. Travel vouchers can be used to pay for travel costs like flights, accommodation or food.
Trave vouchers are primarily used as proof of a named customer’s right to avail of a service at a specific time and place. Service providers, in turn, collect the voucher to return to the travel agency, tour operator, or whoever it was that provided the said voucher, to prove that they have indeed provided the service. This approach is most suitable for free individual tourist activities when pre-allocation for services are unnecessary, unfeasible, or inapplicable.
The life of a voucher is rarely complicated. Once issued, they lead a very straightforward purpose. Like tickets, they are used once and then discarded. A voucher’s life usually involves:
Vouchers were traditionally handed out personally before the advent of the information era. With the advent of technology that broke the limits and lowered the cost of communication, vouchers have now been given a quite different role by retail and B2C applications.
If a reservation is made through the internet, vouchers are usually provided to customers through email or a website which can be printed. That being said, providers still require customers to present their voucher before providing service.
A voucher’s service is not limited to the person buying said voucher. If a company decides, vouchers can also be sold for gifting. Gift vouchers are some of the more popular gift ideas come the holidays. Furthermore, not only are they convenient for customers, but they also carry with them inherent benefits.
Just as there are pros and benefits that vouchers can bring, they can also bring in some cons. These cons perfectly balance the pros they bring, as all things should be. If there were no cons to vouchers, then everyone would be literally giving them away.
The main con of having vouchers is that it will cost your company money, especially if you offer discounts. Yes, discounts may attract a number of customers, however, discounts also make a big difference in your profit margin. This discount approach can even trickle down to your regular customers who could get in the habit of waiting for vouchers before availing of any of your products or services. This approach cannibalizes your own income. So think carefully when you are going to apply a voucher program or system for your products and services.
Vouchers are pieces of paper that are proof that a service or product have already been paid for. These are extremely useful for the tourism and travel industry as they provide convenience to their paying customers. Introducing a voucher program can bring in a lot of benefits, especially if you allow these vouchers to be gifted. However, they can also bring some cons or disadvantages. As such, it is important for a company to weight in and think carefully before selling or providing vouchers.