Revolutionizing Travel Savings: Accrue Savings and CheapOair's Integral Partnership

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Accrue Savings
October 2023
5 min read

About CheapOair and Fareportal

Founded over 40 years ago, Fareportal began as a traditional travel agency before evolving into the technology company that powers CheapOair, its flagship hybrid travel brand. Headquartered in New York City with 2,000+ global employees, CheapOair combines online booking capabilities with 24/7 personalized travel agent support. 

Today, the company partners with 500+ airlines, 1M+ hotels, and hundreds of car agencies worldwide, specializing in complex international airfare distribution and pioneering ancillary service integration for major carriers including American Airlines, Air Canada, and Spirit Airlines.

The Challenge: Converting Early-Stage Travel Planners

Travel planning often begins months before actual booking, creating a significant challenge for online travel agencies. Research shows that 82% of Americans actively plan trips in advance, with two-thirds starting their saving journey at least four months before travel. During this extended planning period, travelers frequently shop around and may ultimately book with a different provider than where they started their search, representing substantial revenue leakage for travel agencies.

Additionally, traditional travel savings methods remain inefficient and disconnected from the booking experience. 40% of travelers keep funds in regular checking accounts, while 37% save cash separately, creating a fragmented journey between saving and booking that makes it harder for travel agencies to maintain engagement with potential customers.

The Solution: Securing More Bookings with a Digital Wallet

CheapOair partnered with Accrue to introduce their branded digital wallet - the “ClubMiles Trip Fund” - that allows travelers to seamlessly save up for future trips directly on CheapOair's platform. This integration addresses two critical business needs:

  1. Converting early-stage planners into committed future customers via a dedicated saving space within CheapOair's ecosystem
  2. Improve marketing efficiency and conversion rates as a targeted tool for travelers at the right time in their buying journey

Transformative Results

Secured Customer Bookings, Faster

  • 95% of wallet-funded customers remain in CheapOair's ecosystem, dramatically reducing customer leakage to competitors
  • Travelers showed an accelerated time-to-book with an average of 26 days of saving, vs. the 4 month industry average

Improved Marketing Conversion

  • Email campaigns highlighting Accrue-powered functionality saw 2x higher booking conversion rates vs. standard promotions
  • 76% of users funded their wallets in response to in-app messaging about the program

Higher AOV

20% higher average order value for bookings made through the program

By offering a more directed and engaged customer journey with Accrue, the strategies for customer engagement are evolving for the modern era. 

As Carolyn Gong, Senior Marketing Manager at Fareportal, puts it: “With Accrue, CoA is capturing a new type of customer (a saver), and we are now able to tap into a new segment of customers returning from trips, which 2x CoA bookings in the process.” 

In today’s landscape where travel remains a priority amidst spending cutbacks and inflation, the Accrue and CheapOair partnership emerges as a proof point of how financial responsibility can lead to wins for both travelers and businesses.

Andrew Stein, VP of Partnerships at Fareportal, explains: “Our partnership with Accrue revolutionizes the way Americans save for travel, making it a more inclusive and enjoyable experience. Now, our travelers have an opportunity to save up to embark on their dream adventures without compromising their budget.”

Transformative Results

Products Used