Just because your travel agency is a small business, it doesn’t mean your client base has to be restricted to individuals. Go in for the big fish — corporate clients, to boost your revenues.
According to a recent survey small businesses reported an increase in turnover and sales volumes annually by a massive 266.4% on landing the deal of a large corporation.
Business vs Leisure
Any travel agency would have to deal with two distinct categories of clients — the business traveller and the leisure traveller. Though, both these types of travellers require hotel bookings, flight tickets, and other travel services their needs are vastly different.
Simply put, the leisure traveller travels to satisfy his/her wants and dreams, while the business traveller travels for business necessities.
Very often, most travel agencies make the mistake of not focussing on business travellers. This is a costly mistake. Here, in today’s post, you can find the top benefits of offering customized travel services to cater to the needs of Business Travellers.
1. Business Travel is More Often Big Ticket
Most leisure travellers pay for their travels from their own pocket. They usually save (sometimes even for years) to be able to afford their vacation. This means, they are on the lookout for ways to cut down costs and settle for low budget hotels, that may be far away from the main city, and opt for economy air fare .
On the other hand, business travellers don’t worry much about the costs of the accommodation and tickets since they don’t pay out of pocket. The company pays for them, they book the best fit air tickets which is not necessarily the cheapest and also look for quality hotels in the main city area. This often makes the corporate booking a big ticket sale.
Hence, you enjoy higher revenues while handling corporate travelers.
2. Business Travellers travel in Groups
Very often, business travellers attend conferences, workshops, professional meetings as a group. This means with a single booking, you bag a bigger order. Compare this with the leisure traveller who travels solo, or as a couple or at the max a family.
When you deal with corporate clients, the average value of a booking increases, which in turn boosts your cash flow, thereby providing you with better profits in the long run.
3. Corporate Clients provide Repeat Orders
Leisure travelers usually travel once or at the most twice a year. This means your bookings and orders are few and far-spaced. On the other hand, corporate clients provide you with repeat orders. A single employee may travel frequently, or the company may send different employees to various meetings and professional outings.
Whatever be the case, once you bag a corporate order, you can be assured of repeat orders. This helps your travel agency stay in business even during off-season periods. Unlike leisure travelers who travel only during fixed times of the year , business travelers provide you with business round the year.
Also Read: Tips To Grow Travel Agency Business
Focus on Corporate Clients to Boost your Bottom Line
As a travel agency, you have to focus on winning corporate clients if you want to maximize revenues and boost profits. This means, you have to invest in marketing (both digital and traditional) and provide incentives and added features to attract corporate customers.
If you’re worried, that you don’t have sufficient working capital for these investments, then worry not. Today, several digital lenders like Indifi offer customized business loans to travel agencies to boost their working capital and to meet operational expenses.
Avail these loans to help you win corporate clients, thereby increasing your revenue!