I was thinking what to talk to you about this morning when I came across some interesting stats on the travel agency industry.
Revenues for Travel Agencies should grow to $17 Billiion in 2020 up from $15 Billion in 2015.
78% of Revenues are coming from commissions, while 22% come from service fees -- a slow but unstoppable movement from commissions to fees.
Agencies are reporting stronger profits -- even though there are less of them. This means consolidation and a stabilization in the current business model after the downsize from airline tickets more than a decade ago.
A smidged of bad news: only 16% of people would use a travel agency (and that number is falling). But this is offest by air travel doubling by 2030.
A more technologically adept audience is travelling. And Generation Z is expected to spend more than Millenials.
But as the whole travel tech industry shakes out -- the part of the population that wants travel planning "just done" for them is getting stronger.
And that's where you win.
But you have to be ready -- especially online, to meet this new consumer.
The one that does everything on their phone.
That expect to text you all hours of the day (and needs a prompt reply).
Want to talk about modernizing online? Click the button below for a free consultation.
Your friend in travel marketing
Ericson Smith
Co-founder, marketing & technology.
Travel Agency Tribes
PS. Have a question about your travel agency website, newsletter or social media? Just hit reply, it comes directly to me!
People Don’t Buy What You Do, They Buy Why You Do It — Simon Sinek
I carry the book Start with Why in my laptop bag everywhere.Honestly I think this book has been to 4 continents already.The book which I’ve probably read 30 times reminds me of one thing. WHY WE DO WHAT WE DOI was asked this very question by a partner the other...
Update it Frequently
Most people look at their website as an afterthought. No wonder we see so many brochureware and forgotten websites.Search engines like Google rank your website better when its updated often.This means continually adding new destinations, new blogs, testimonials and updating agent profiles.But what’s a good update frequency?Best - DailyGood -...
Tools we Recommend
There are great amount of tools you can use in your travel agency these days to make things more efficient and help your marketing. Slackhttps://www.slack.comStop reading this and setup a slack team for your agency right now. Command every agent to install it on their desktop and phone. It’s the...