Are the Millenial’s worth chasing?
We have experienced the travel industry evolving, but less talked about is the revolution that is taking place if you are a member of the travelling public. As an agent looking for new business, you to keep abreast of these changes and make the necessary adjustments to survive in this fast-paced Industry.
Some put them in the too hard basket, or define them as self bookers, but there are still opportunities with the millennial’s.
According to a survey conducted by MMGY Global, the millennial’s represent the major growth force in American travel today and are pitched to become the leading travel segment. Whilst Australia tends to lag other large developed nations in adopting trends, house prices are an example of stimulus that change the way millennial’s think about their money.
But they are smart, savvy, well informed. How do you tap into them? First of all you need to understand how they think and want to communicate.
A trend amongst millennial’s is niche or customised travel, rich in experience and immersion. Social capital is important. They are interested in the products and services provided by travel agents that will give them that social capital edge and save them time.
Specialised services in niches such as wellness and adventure travel will enable you will be well positioned to capture more business from millennial travellers. Thread it into your marketing and communications. Companies like G Adventures have understood how to make this connection and pitch their product and content accordingly across many of their products. Oman as a destination has done this wonderfully.
You need to be part of their decision-making process, beyond websites and Facebook pages and more about how you engage each customer. Process and procedure will give you efficiency and you can achieve a lot with automation, although not many travel agent groups have taken this step.
Millennials demand instant communication and ease of doing business; they are the smartphone generation after all! As a travel agent, you have to be aware of this in order not to lose potential clients. They expect immediate information and quick replies with authentic content. Accuracy is important for the millennial. Technology like bots is not as likely to scare them off as much as older customers.
A few days in response time will mean the millennial has already moved on.
The millennial’s are important for you to consider for your survival if you are currently dealing with ageing clientele. The millennial’s represent growth, banking on ageing clientele represents decline.
Food for thought on where you spend your next buck in generating new business?