Despite a rocky twelve months, the travel industry finally shows signs of returning back to a new version of normal. There are still going to be teething problems as some countries have less control over COVID-19 than others but hopefully, that will improve within the coming months.
As a corporate travel startup, you’ll likely have a tough uphill climb but perseverance is key in these challenging times we live in. The travel industry is one of the largest in the world and there are still travel niches and areas of the industry that can benefit from new businesses popping up on the market.
According to Tripadvisor, 77% of travelers surveyed across the world said they’re more likely to travel internationally once they receive the vaccine. There are many countries that are distributing the vaccines effectively already and at the time of writing this article, have started administering booster shots.
This all boards well for the travel industry but it’s still necessary for businesses within the travel industry, to find ways of encouraging their customers both old and new, to travel again.
Boost the revenue of your travel startup with these tips
In this article, you’ll discover seven powerful tips to grow your corporate travel startup this year. To help drive more revenue and boost your presence in the travel domain, these tips will give you everything you need to do just that.
It may be that as a travel startup, you think about how you reward loyalty to your customers and offer better experiences in general. It is likely to take some years to return to the revenue generated pre-pandemic across the global travel industry. So let’s dive into the top tips that can help generate more revenue and interest in your corporate travel startup
Establish a strong social media presence
It’s no surprise that having a social media presence comes at the top of our list to prioritize. With 4.66 billion people around the world using the internet to access information and to buy products and services, establishing a strong social media presence is critical for success.
As a corporate travel agency or startup, look at where your audience is on the internet. It depends on who your target market is and where they’re likely to be when it comes to social media platforms. The more platforms you’re on, the better. However, it’s important to hone in on the ones that get the most engagement from your desired audience.
There are a lot more customers choosing to book trips, whether it be for business or leisure, online nowadays. Condor Ferries predicted there would be a 60% rise in mobile travel bookings expected in 2021 alone.
A multi-channel strategy is needed for your travel startup and not simply relying on your customers to book through your site alone. Social media platforms have made it easier for users to book via these channels, so it’s worthwhile spending some time growing your following where possible.
So if you are doubting whether a website or social media is better for your travel startup, the answer is both. Always be present on both, since not all your customers will prefer the same service. Also, since each platform is built slightly differently and so you may find it worthwhile to outsource a marketing agency to help you with your content management.
Get personal with your customers
Talking of your customers, it’s necessary to go above and beyond in your services, particularly during the ongoing pandemic. Whilst some businesses will still operate remotely and remain within their home country, others will likely be itching to get out into the world.
If you have a loyalty program or reward scheme, then it might be useful to revisit it and consider what benefits could make it more appealing. Perhaps you could offer discounts or exclusive offers for existing clients who would typically travel on a regular basis.
You may want to develop more personalized and tailored experiences for your existing customers. That way, you can get more personal with them, which could enable more loyalty to your business because of the high-quality experience they’re receiving.
Use software to discover helpful data
In order to grow your client list, it’s beneficial to make use of any data you have. There are some great travel CRMs out there that can collect client data and help with customer relations in general.
Here are a couple of customer relationship management platforms that are popular amongst travel businesses.
Zoho travel CRM software helps manage bookings related to flights, hotels, and packages. It can help monitor your leads, creates client accounts, and stores contact details. The performance management section of Zoho does sales forecasting, gamification, and AI prediction to name but a few.
There are five different plans available, with the Starter plan being an ideal package for startups.
Freshsales is another great CRM for managing client relationships. It can help manage, develop, and follow-up on leads so that you’re not missing out on any opportunities for sales.
The platform provides AI-based lead scoring, customizable dashboards, and insightful reports. You can track the performance of your emails when it comes to conversion of sales as well as running successful sales campaigns.
Pricing varies but you can use the platform for free. For more advanced features, you’re looking at monthly payments billed annually from $12-$55.
Develop strategic partnerships
Coupling up with another business as part of a strategic partnership can be very advantageous for a startup like yours. Finding an arrangement that suits both parties can be easily done and it’s a great way of boosting revenue and growing your customers.
It may be partnering with a business that provides hospitality or an airline or transport service. Some companies may be fearful of partnerships, however, as long as you align with the right organizations, it can have many benefits.
By partnering with other businesses, you also bring more quality experiences and value to your clients. It can help with upselling so that you maximize the potential return from the partnership.
Encourage customers to leave feedback
Feedback should be welcomed by every travel startup because it can help give insight into how well your services are performing. The positive feedback left by customers will also encourage new customers to try out your services. Negative feedback is more than likely to put them off.
When it comes to buying decisions, 90% of consumers are influenced by reviews. So try to encourage existing and previous customers to leave feedback on your services. You could reach out to your customers via email or through online feedback forms after making a purchase.
It’s as simple as asking your customers to provide as little or as much detail on the services as they would like to give. You could incentivize them into writing a review by perhaps putting them into a draw to win a prize!
Motivate and incentivize your staff
Increasing revenue for your travel startup can be done by focusing on your sales team and everyone else for that matter. It’s good to incentivize your staff because it gives them something to work towards and most importantly, to feel valued.
Try to find both group and personal incentives. Whilst it can be good to have a bit of healthy competition, you want to ensure everyone has a fair chance of success and receiving some form of reward.
Consider what packages you have in place when it comes to employee benefits. There might be some additions that could help inspire your employees to work that little bit harder. You may find it useful to implement a tiered reward system in parts where there’s an opportunity for each person to move up the goals or objectives, earning something each time.
Motivating your employees can often be a case of having good managers in place too. Without that senior influence, your employees may not be motivated to work as hard. With that being said it’s important to train your managers to be good at delegating and inspiring their teams.
Network and promote your startup at corporate events
Finally, networking is key for helping develop and grow any business. A successful business isn’t achieved by one person alone. It often takes a lot more from those within the company and those outside of it.
Networking is a great way of meeting new people and you never know who you’ll meet along the way. They may prove to be influential when it comes to your company’s success. There are also likely lots of opportunities to promote your startup at corporate events around the country and beyond.
What was a very bleak 2020, things are definitely looking up for the travel industry for this year and beyond. Making use of the tips mentioned in this article will hopefully boost your revenue and will establish a position for your travel startup in an industry that’s recovering slowly but surely.
Provide a more personalized and enhanced experience for your clients and motivate your staff so that they’re getting the most out of their working day. Network where possible and promote your business actively online.
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