Booking CEO Glenn Fogel wants you to take out your travel frustrations on AI chatbots
Decoder with Nilay Patel
Value Creation Is Essential for Success
To gain partners' trust and ensure their use of a service, it's crucial to demonstrate added value, particularly by providing incremental customers that they would struggle to attract independently or at a higher cost. For example, a small hotel in Switzerland may not have the resources to reach international markets, such as Chinese travelers, due to language barriers and payment systems. Service providers must fulfill these gaps by offering multilingual support and facilitating international payment processing. Essentially, just as hotels rely on utility services for cost efficiency, businesses must recognize the intrinsic value in utilizing partners to gain access to new customer bases more effectively and affordably than they could achieve alone.
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