Happy New Year! I know we have Halloween, Thanksgiving, Christmas, Hanukkah, and New Year’s to get through, but here me out. Things are slowing down in the travel world. Kids are back in school, and holiday stress is starting to kick in. Travel is likely not on the top of many to-do lists. We have three months! Don’t waste this time—clean up your act!
Now’s the moment to organize your travel, marketing, and financial game plans. How can you make money without a plan? Tackle that clutter, ditch outdated brochures, and tidy up your agency’s financial and marketing strategies. Review your preferred suppliers, budget your advertising, and hunt down those ever-dwindling co-op funds. And don’t forget to trim some fat off your client list, too.
Yes, you heard me right. Let go of those clients who are more trouble than they’re worth. We all have those tire-kickers and needy folks who drain your time and patience. Consider a thorough review of your client database. Get rid of the unprofitable ones. Why spend hours for a meager fee? For the possibility of a future payday? C’mon, if they are not valuing your service now, do you think it will change? It’s just not worth it.
If you are on the fence, here’s an idea. Identify those bad clients who can’t commit or need endless handholding. Tag them as “MOID” (Maybe, Only If Desperate) and rethink your priorities.
Profitability matters. Calculate the actual cost of a booking, including sales efforts and post-sale follow-up. You’ll find that those $75 commissions from budget suppliers aren’t worth the trouble. Weed out those suppliers, and weed out clients who consistently demand excessive time for minimal returns.
Every client has some value, but it’s time for change if they cost you money.
To succeed, specialize and target your audience. Keep refining your approach to find the right clients.
So, after finalizing your marketing and financial plans and discarding outdated materials, consider trimming your client list just a bit.
And then, have a beer!
