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!
Distribution
TV is dead, so is radio.I’m almost kidding about that. You probably still advertise with flyers, local radio, Yellow Pages and local TV - that’s smart. But it’s not enough. You need more channels.Your website always acts as the central hub. Everything should get posted there. Here are some more...
Generating Leads
Now that you have all that content, you need to actually use it to help capture that person online. There are two ways:Have your phone number on every page.Have a call to action (link or button) that asks the reader where they are going and how you can help them.Notice...
Newsletters
It costs 5 times less to keep a customer than to get a new one.And the best way to keep your customer is to keep talking to them in a helpful way - frequently.Some customers will hate it. But those you just unsubscribe. The others will keep you in their...