Best Profit Boosting Strategies for Your Travel Business
How do travel agents increase profit for a travel company? The travel business these days is a growing mammoth moving like cheetah with no scintilla of slowing down or having a seizure in some years to come. Findings shows me that the world economic contribution into this industry (travel business) in the year 2014 was $7.6 trillion. This proves that the travel industry isn’t just one of the largest industry in the world, it also entails a different and wide varieties of customer needs and business type.
Do you need some revenue-boosting strategies for your travel business?
Are you moved and motivated to venture into travel business? Then, reading this article right now you’ve got to relax because the travel industry is very easy to break into, as there are plethora of niches to occupy- though it is difficult to gain presence at the initial stage -as many players have gone and gained presence beyond imagination: Talking of hotel chains, think major airlines and other services, have all dominate and conquered the travel market.
For you to build your travel business to reach a colossal height and stand out among its peers in the travel industry, plus, boost the revenue of the travel business, here are some proven, surefire, data backed and research-driven strategies you can easily plan for and implement once you’ve gotten your travel business set and ready.
Seek for Referrals
Embracing the almighty referral programs to your travel business can be a workable and effective way to boost the revenue of your God-owns travel business and this is if adequately implemented.
The president of Encore Jets, Sami Belbase, in his precious list of the most effective strategies for boosting and improving revenue, he opted for referrals as the number one on the list. Belbase believes that if you do not ask, you won’t get!
Now, look, ask and seek for referrals, it’s a sure tip for revenue-boosting strategies for your travel business and this can be implemented by the sales team in your travel agency.
Deloitte report that larger numbers of people do make use of online booking for vacations, and also indicated that, majority of the travelers will chitchat their trip experience on social media sites immediately they return.
Revenue-boosting strategies for your travel business could also be traced to the online media.
Endeavor to create a strong and cordial social media presence so as to serve as an avenue to create awareness of your travel industry to heterogeneous mass audience and also, to keep your seasonal and epileptic customers abreast of anything new in your agency.
However, if you notice just now or waking up from your slumbering that your travel business is yet to go online by using the social media to its advantage, I think the night is still young. Go online and commit to various questions posed by your prospects.
There is heavy tendency and good likelihood; your target audience make use of social media for their travel purposes; maybe to browse around for the best travel agency or to enquire for a nice place with a nice atmosphere to explore.
The Sales Incentive Programs
When talking about revenue-boosting strategies for your travel business, the sales team of your travel agency should be at the front line. Establish a sales incentive program and see how your business will thrive so well within the stipulated time or month.
So, far the sales team is excited and shows much enthusiasm about the work they do, it will easily transform into better and nice interactions with the prospective customers and as such, increase in more sales.
To back the success of sales incentive programs up, data backs up argued that, Blackhawk Engagement Solutions realized that when properly structure, the sales incentive programs/scheme can contribute to the increase in the performance of the employee to 44 percent.
Not limited to this, they also found out that the yearly revenue increase was 3× (three times) higher among the organizations that adopt the tangible sales incentives!
Above all, the employee incentives program is much better a motivator to the sales team, hence, it is a good source of revenue-boosting strategies for your travel business.
Encourage your Customers to leave Behind a Review
The online review is a great thing and shouldn’t be jest with. But wait! just how much important do you see online reviews as a medium of increasing revenue?
Well..research, studies and findings suggest that when a decision is made on buying or purchasing, nothing less than 90 percent of consumers are usually influenced by the reviews, plus, 87 percent of potential prospects will not think twice on a business that has a low rating on the review sites.
To know the true and real class of your travel business so as to boost your revenue, just ask your customers to leave behind a review of your travel agency.
Build a Strategic Partnership
Establish a strategic partnership with another related business for a blissful arrangement that will be of great benefits to you both.
In this concept, your travel business could look around for another agency or hostels and partner with them at their destination. Partnerships sometimes can be superbly effective and applauded when it comes to increase or boosting of revenue.
See you earning something enormous through this five best revenue-boosting strategies for your travel business.