Do you want to start a very valuable conversation? The next time you are at a travel networking event or trade show, try this out as you swill that glass of bourbon. Bring up the subject of competition in the local market and ask one simple question. “Who is the competition for your agency?” I can guarantee they will give you the wrong answer. Read on!
I will bet that the answers probably included something like this:
- Billy Bob’s Tour and Travel
- American Express
- Cruise Planners
- Frosch
- AAA
- Travel Leaders
- Expedia
- Or the latest MLM agency
And they’d be wrong. They are not your true competition. Yes, we all sell the same product, so in a sense, I guess we are in competition, but what are we looking for? The wealthy client? The Frequent corporate traveler?
Or are we in competition for the discretionary dollar? Before any client takes any trip, they first need to want it. Then they need to afford it. And here is where the real competition comes into play.
I’d love to return to Europe and explore Barcelona a bit more. I have priced out a two-week trip that will run about $10,000 for my girlfriend and me. But…
The deck is shabby and has been for a few years, and I should go to Home Depot and get what I need to refurbish it.
That’s a lot of money, and with the economy like it is now and inflation in Europe, maybe we can put that off and grab some World Series tickets to (hopefully) see the Phillies play.
I wonder what that grinding noise is in my 2004 Infiniti; I probably need to get that looked at soon.
That promotion I got is awesome, but now I am attending more formal meetings and presentations, and I’ve put on some pounds. I might want to go back to Weight Watchers and head over to Macy’s to update my wardrobe to something more professional.
Think about it…when it comes to your client, who is that competition? It is every other place that the client can choose to spend their discretionary income.
How do you compete? Well, the good news is that this is a twofer as it will allow you to compete and win against the Home Depots of the world and give you a leg up on that agency down the street or that sexy new dot com agency!
The job of a travel professional is to sell the right product to meet the wants and wallet of the client. It is not an easy task for sure, and here is where professional development is so important. To have the best shot at securing a chance to close a sale, you need to be on your toes:
- Network with colleagues and learn from them.
- Participate in online forums, training, and webinars as often as practical.
- Attend trade shows and site inspections.
- Keep your clients informed about what you do and what you do at least four times a year.
If you make a point to do all four, you likely will be very successful. If not, you risk losing your client’s discretionary income to the real competition!
