Mark Twain’s famous, “the report of my death is an exaggeration” quote certainly applies to the travel agent and the traditional travel agency business model. The retail travel agency community has sustained considerable losses due to the combined impact of the rise of the internet, industry consolidation and the economic downturn – 30% of retail travel agencies have closed since 2000. Despite the hardships, a new breed of smarter and more innovative travel agents is evolving.
photo credit: saikofishBeing a 'secret' agent in the age of social media could get your travel business killed
Forrester Research recently reported that there are 15% fewer travelers who enjoy using the Web in 2009 than there were in 2007. Many are seeking the expertise of offline travel agents able to provide relevant recommendations, expert validation and most importantly, a time saving rescue from the labyrinth of internet travel sites.
The challenges facing modern travel agents are not unique to the travel industry. The relationship between agencies and their clientele is under duress across all industry verticals. Avoiding the impassioned and emotional specifics that illustrate the travel agent’s plight, a slightly higher level perspective is required – how the internet impacts the Agency-Client relationship across all verticals – not just the travel space.
Traditionally, agencies have been required to provide specialized expertise in their respective discipline – travel, real estate, insurance, advertising, etc.
The best agencies always offered:
- access to information that was not otherwise readily available to the client, and
- the ability to both develop strategies and apply tactics that were tailored to the client’s specific future goals, available resources and current circumstances.
The internet has dramatically changed the environment and travel websites now compete (with a relatively good degree of success) with traditional travel agencies. continue reading →
