PwC offers revenue-growth methodology for airlines

Airlines can improve customer loyalty and satisfaction by placing the flyer first and paying attention to customer preferences, PricewaterhouseCoopers' website notes.

Airlines can improve customer loyalty and satisfaction by placing the flyer first and paying attention to customer preferences, PricewaterhouseCoopers' website notes.

More than 6,000 consumers chimed in about ways airlines can create high satisfaction, expand market share can grow revenue as part of PwC's recent report, Experience Radar 2012: Customer Insights for the U.S. Airline Industry.

For instance, researchers broke down new strategies in terms of playing card terminology. "Aces" refer to "nice-to-have" features that deliver moderate to high economic returns, such as seat comfort. "Table Stakes" are must-have features for flyers that provide low economic returns, such as on-time arrivals. "Wild Cards" are features with high economic returns, such as issue resolution and upgrade options, while "Fold" are those factors that create negative returns, such as additional fees or flight delays.

"As cost management becomes less of a differentiator for airlines, carriers are seeking to create a competitive advantage by strengthening ties to consumers through an improved customer experience," said Jonathan Ketzel, U.S. Transportation and Logistics Advisory Leader at PwC. "Airlines that have a crystal-clear understanding of what flyers want, need and value most can be better positioned in the market, and can achieve a higher price premium."

By aligning with this methodology, airlines can accurately lay out their findings and create tangible action plans to earn revenue.