If you do not know where you are going, how will you know when you'll get there
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Are you navigating the complex world of revenue management and distribution in the car rental? This week, we’re joined by industry veteran Mark Richards, who brings decades of experience in the car rental sector to the Revenue Machine.
Mark shares his unique insights on the evolution of the car rental market, from the rise of online travel agents to the emergence of new affiliation programs. Discover how the tier one legacy brands have adapted to market changes and how tier two players are now making waves.
Mark discusses the challenges of brand loyalty, the importance of understanding customer needs, and the potential game-changers in urban mobility. For him, the subscription model is a way to improve the usage of car rental and strengthen the loyalty of customers to the brand.
He also gives tips for independent car rental companies on choosing the right affiliation programs, and he shares his vision for the future of car rental and its relationship with technology and emerging trends.
Whether you're a car rental expert or a revenue manager in another industry, you'll gain valuable perspectives that will help you to **optimize your business strategies and stay ahead of the competition**. Don't miss this episode!
0:00:00 Introduction and Background Mark Richards shares his career journey in the car rental industry
0:09:30 The "mushroom" period, Includes analysis of the "mushroom" period of new brokers and how legacy brands initially reacted.
0:35:10 The Emergence of Tier Two Brands and Affiliation
0:43:15 Tip of Mark to select an affiliation program
0:55:50 A look at what the future of car rental networks and OEM's
1:16:30 Continuous learning in a rapidly changing business environment
🎙️ As the host of The Revenue Machine podcast, I am passionate about transforming the car rental industry through Yield, Revenue Management, and new technologies. Entrepreneur since 2007, I founded WeYield to empower and, more importantly, to provide greater freedom to all entrepreneurs and professionals in the Mobility sector.