# India’s aerospace suppliers see upside in parts-making from record jet orders Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2020-03-04 Category: FINANCE Category URL: https://financedigest.com/category/finance Meta Title: Indian Aerospace Suppliers Eye Growth on Record Jet Orders Meta Description: Discover how Indian aerospace suppliers are capitalizing on record jet orders to drive local parts manufacturing and aircraft repairs, with insights from indus URL: https://financedigest.com/indias-aerospace-suppliers-see-upside-in-parts-making-from-record-jet-orders-2html ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd180618-8-1737287569995-compressed.jpg) _By **Carolyn Corda,** CMO, ADARA_ Financial brands, and particularly credit card businesses, used to lead the way when it came to customer targeting. Using a wealth of spending data and credit agency reports, card companies were able to identify users most likely to be interested in a certain type of credit card – enabling fantastic marketing capabilities. However, innovations in data tracking, collection and analytics mean brands in every sector are now able to profile and target [potential customers for marketing](https://www.financedigest.com/functional-extracts-market-potential-growth-share-demand-and-analysis-of-key-players-forecasts-to-2029.html "Functional Extracts Market Potential Growth, Share, Demand and Analysis of Key Players – Forecasts to 2029"), and they’re leaving these former financial trailblazers behind. In fact, a [study](https://thefinancialbrand.com/74986/banking-personalization-targeting-trends/) found that 94% of banking firms can’t deliver on personalization. While relying on [insights from organizations](https://www.financedigest.com/organic-fertilizer-market-where-should-participant-focus-to-gain-maximum-roi-exclusive-report-by-future-market-insights.html "Organic Fertilizer Market | Where Should Participant Focus To Gain Maximum ROI | Exclusive Report By Future Market Insights") such as Experian and Equifax can give an indication of who may be a creditworthy target, there is a much bigger picture to be seen. It’s off to the side of the bulls-eye, as it were. By delving more deeply into specific customer buying preferences, financial brands can tailor marketing messages effectively, securing high-value [future customers with compelling marketing offers](https://www.financedigest.com/future-market-insightss-detailed-report-on-cat-litter-market-offers-projections-of-potential-impact-of-corona-virus-outbreak.html "Future Market Insights’s Detailed Report on Cat Litter Market Offers Projections of Potential Impact of Corona Virus Outbreak"). Take travel data. People’s travel habits can be incredibly diverse. Habits range from one [customer to the next](https://www.financedigest.com/the-next-generation-of-customer-experience-in-banking.html "The next generation of customer experience in banking"), and – complicating the picture further – even from one trip occasion to the next for the same individual. Understanding their travel choices and what [drives them can help paint an intimate profile for pinpoint personalization](https://www.financedigest.com/personalized-digitization-to-drive-the-antiseptic-bathing-market.html "Personalized digitization to drive the Antiseptic Bathing Market"). What insights might we glean from the ‘high-low’ traveler, for instance? Many companies would segment their audience by wealth and spending power, but the high-low traveler subverts this idea. This is a growing group of travelers whose wealth ranges from modest to very comfortable. They choose no-frills transportation, even though they could afford a higher-class experience. But, when they arrive at their destination, their choice of accommodation is markedly upscale. If a financial brand were to [target](https://www.financedigest.com/finance-industry-and-ddos-attacks-how-can-the-most-targeted-vertical-industry-protect-itself-from-ddos-attacks.html "Finance industry and DDoS attacks: how can the most targeted vertical industry protect itself from DDoS attacks?") these customers based solely on their flight choices, there would seem to be little value in offering air miles. But, combining this insight with hotel choices it becomes [clear that good deals](https://www.financedigest.com/s-africa-negotiates-deal-with-eu-to-clear-citrus-blockage-at-ports.html "S.Africa negotiates deal with EU to clear citrus blockage at ports") on luxury and membership of privilege schemes would be a sought-after benefit. Merging spending [insights with demographic data](https://www.financedigest.com/marine-big-data-market-to-expand-at-cagr-of-21-5-during-forecast-period-tmr-insights.html "Marine Big Data Market to Expand at CAGR of 21.5% During Forecast Period – TMR Insights") adds yet more colour. [Recent researc](https://www.visitbritain.org/sites/default/files/vb-corporate/kmb_visit_britain_luxury_travel_research_report_march2018.pdf) [h](https://www.visitbritain.org/sites/default/files/vb-corporate/kmb_visit_britain_luxury_travel_research_report_march2018.pdf) from VisitBritain.org into luxury travelers discovered that American travelers book direct, while Chinese and Gulf travelers use packages, needing more guidance and reassurance. Gulf travelers, in particular, value the use of concierge services – something financial providers might consider a useful value add to a [credit card](https://www.financedigest.com/what-happens-to-credit-card-debt-when-you-die.html "What happens to credit card debt when you die") benefits package. A sophisticated approach to [data](https://www.financedigest.com/how-finance-firms-can-unify-two-data-approaches-to-improve-both-compliance-and-security.html "How finance firms can unify two data approaches to improve both compliance and security") delivers far more usable customer insights than taking a broad brushstroke approach. Isolating populations, not by their purchasing power but by their purchasing behaviour will help financial brands get a much better sense of what appeals. Some skepticism has crept in recently about the value of personalization. A [recent repo](https://www.campaignlive.co.uk/article/marketers-right-turn-backs-personalisation/1668502) [rt](https://www.campaignlive.co.uk/article/marketers-right-turn-backs-personalisation/1668502) stated that 80% of marketers would stop investing in it by 2025. They put this down to the challenges of managing [data correctly and the fact that it doesn’t seem to live up to its financial](https://www.financedigest.com/data-centres-and-the-changing-financial-trading-landscape.html "Data centres and the changing financial trading landscape") promise. But perhaps it’s the personalization efforts themselves that are failing to live up to their promise. [Personalization means more than good creative in advertising – for credit](https://www.financedigest.com/questions-to-ask-when-applying-for-a-bad-credit-personal-loan.html "Questions to Ask When Applying for a Bad Credit Personal Loan") cards, it can mean the type of offer, incentive or even product – whether that be cash back, air miles or loyalty points. For example, if [traveler data tells us that an individual is a frequent international](https://www.financedigest.com/chinas-international-flight-suspensions-leave-travellers-stranded-hurt-businesses.html "China’s international flight suspensions leave travellers stranded, hurt businesses") flyer, offering a card that waives foreign transaction fees could be a hugely compelling incentive to that person. [Research from Boostify](https://www.marketingtechnews.net/news/2019/nov/07/how-personalisation-will-look-2020-what-do-marketers-need-do-now/) found that 80% of customers react positively to companies that treat them as an individual, but only 20% of customers feel that any brands understand or cater to them. It’s easy to see how, without taking the time to [understand data](https://www.financedigest.com/understanding-the-realities-of-payment-data-monetisation.html "Understanding the realities of payment data monetisation") context, most customers are falling through the cracks. Target those ‘high-low’ [travelers with budget](https://www.financedigest.com/how-to-travel-europe-on-a-budget.html "How to travel Europe on a budget") hotel offers and it’s not hard to see where personalization strategies can stumble. From service delivery to the creative approach, brand communications and personalised offers, understanding how customers behave and their preferences beyond their financial [walls](https://www.financedigest.com/why-the-new-csrd-is-breaking-down-the-walls-between-esg-and-finance.html "Why the new CSRD is breaking down the walls between ESG and finance") is vital. To move offers from relevant to compelling, traveler data in context is a uniquely rich source of insight into what [customer’s value](https://www.financedigest.com/the-value-of-customer-centricity-to-c-suite-financial-strategy.html "The value of customer-centricity to C-Suite financial strategy"). It has the potential to rewrite the rules on what a great customer [experience](https://www.financedigest.com/solving-the-customer-experience-conundrum-how-fs-organisations-can-use-data-to-level-up.html "Solving the customer experience conundrum: How FS organisations can use data to level up") for credit card customers means – and credit card companies would do well to ensure that they are the first to lay down the new groundwork on how compelling they can make their offer. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---