Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Current State of the Travel Industry in Singapore

Travel agents who have been in business for some time should have collected a sizeable amount of customers details in their company databases. And most of them would have made use of the database to retrieve customers’ information only when these customers return to purchase more goods and services. Unknown to these companies, the real value of this database is actually measured by what the company could do with it to profit the business. Instead, they made use of customer data to complete registration and fulfill administrative needs but totally missed the opportunity to inform their existing customers about current promotions offered on a regular basis. Travel agents need to realize that these previous customers are actually taking less risk to purchase from an agent whom they have purchased services before. Hence, getting more business by creating customer loyalty is definitely a cheaper and more effective means than general advertisement on papers and magazines. And also, bear in mind that existing satisfied customers are good referrals too, they help to bring in more sales.

Would you like to tell us what you think? Click here to go to the forum.

A SINGLE SALESMAN COMPANY

There are a fair number of small travel agencies in Singapore that are run with only one salesperson, that is, the boss himself/herself. While this may be a normal way for these companies to start out, many amongst them have reached a point where their businesses growth is hindered by the fact singapore address database sales is very much dependent on just the owner. In a situation like this, when making purchases, customers recognize only the salesperson or the owner and not the company or brand it sells. As a result, the owner cannot sell the business to another party. Sales simply cannot be effectively transferred to the new owner without also buying over the services of the existing owner.

See also  Real Estate Agents and the Internet - How to Buy and Sell Real Estate Today

Similarly, owners of travel agencies which depend solely on the competence of a single salesman to sustain the business run into the same risk of being held ransom by the salesman. Should the salesman leave the company, he is also likely to bring all the company’s customers along with him. To address this challenge, the company must seriously think of a way to build up the brand of the company so that the company can become an independent entity and its sales will not easily taken away by anybody.

Would you like to tell us what you think? Click here to go to the forum.

ABOUT OPERATIONAL EFFICIENCY

In my analysis of the local travel industry, I noticed that staff salary has gone down significantly in 2003 and then started to climb up gradually. What happened was salary has increased correspondingly with sales growth. However, there has been no indication that the companies are making use of these staff more efficiently by increasing their productivity level. By that, I do not mean longer hours for the staff, but rather producing more work at a shorter period of time. Without this, the staff salary will continue to increase. In time to come, labour cost would become unsustainable and may cause the business to go into the red. And this also can happen in situations where sales are still growing. It is not strange for travel agencies to fold up their businesses even if the sales are good.

To forestall that, business owners must make sure that as the salary of staff increases, the productivity of the staff also increases correspondingly. This ensures that staffs are adding more value to the business while their salaries increase.

See also  Realtor Email - How Realtors Can Use Email More Effectively

Would you like to tell us what you think? Click here to go to the forum.

THE USE OF THE INTERNET

I wish to highlight that Internet is a tool that has been unfortunately neglected by most of the travel agents. Interestingly, SynergyWorks website which publishes the names of participating travel agents of the NATAS benchmarking study has somehow attracted many surfers while they were searching for the websites of these travel agents. One reason is that these travel agents do not have a website of their own. If SynergyWorks was their competitors, we would have tried to convert these potential customers into ours. As more and more users become internet savvy, companies with good websites (can be found by the search engine) will definitely have an upper hand in increasing their market shares.

Leave a comment

Your email address will not be published.