The Art of Product Adaption: Unlocking A New Timeshare Demographic

A VOASA EXCLUSIVE INTERVIEW

Travel + Leisure Co. has soared to remarkable heights in Asia, establishing itself as a frontrunner in the region’s timeshare industry. Its success is rooted in an innovative approach that tailors the timeshare product to resonate deeply with the Asian market. At the helm of this transformation is Nicole Li, Vice President of Greater China and NEA at Travel + Leisure Co., the world’s leading membership and leisure travel company. Drawing on her extensive experience in the high-end luxury sector with prestigious brands like Ferrari and Swatch, Nicole has been instrumental in launching Club Wyndham Asia, a vacation club developed by Travel + Leisure Co.

In an exclusive interview with VOASA, Nicole shares the success of their novel approach to selling timeshare and offers insights into the strategies that have set Travel + Leisure Co. apart in a competitive landscape.

WHAT PROMPTED THE IDEA TO ADOPT A DIFFERENT SALES STRATEGY FOR THE CHINA MARKET?

I’m passionate about cross-industrial alliances as a win-win way of enhancing customer experiences and boosting business. I have proved the success of this model in my previous experiences in the luxury and high-end retail sector in Asia Pacific and Europe. These experiences gave me plenty of ideas for launching Club Wyndham Asia. We decided to set higher standards of service and build cross industry partnerships with creditable and well-known companies/brands who had a long history, top tier awareness and hundreds of millions of active users/members. We sought to work with them to launch unique co-branding joint campaigns / activities and leverage their brand awareness and reputation in the market, to set our own brand status and market to our target clientele.

COULD YOU EXPLAIN THE SALES STRATEGY?

Sixty per cent of our business comes from referral – and this is due not only to the selling method but the uniqueness of the product. Its offerings include a short term, flexible levies and residual value return. We continually enhance the product by developing extensive and lifestyle privileges to create a unique experience for our members. That approach differentiates us from the other timeshare products and also helps us to attract attention from the target audience and makes the sales process easier, and conversion and satisfaction higher.

WHAT HAVE BEEN THE CRITICAL SUCCESS FACTORS IN IMPLEMENTING THIS STRATEGY?

Focusing on what works in China has been a key factor – rather than what works elsewhere. We have also improved over time to have a seamless customer journey from the beginning, ensuring everyone is focused on the customer’s experience, needs and requirements. From marketing and sales to services and hotel operations, everyone shares the same goals: creating a great first impression, closing, satisfaction and retention, and remaining consistent in communication and delivery.

WHAT KEY INSIGHTS HAVE YOU GAINED THAT COULD BENEFIT OTHER EVOLVING MARKETS?

We have learnt to evaluate the market and be sure we know what the consumer wants, then develop the sales and marketing approach accordingly with the right partners. Be flexible and creative and adapt to meet the market’s expectations. Localisation is the key. A strong product offers value, while testimonials, communication and additional benefits can create a positive influence and have an unexpected impact on the journey and results.

Pictured: Nicole Li – VP Greater China and NEA, Travel + Leisure Co.
Photo credit: Travel + Leisure Co.Photo credit: Travel + Leisure Co.

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