5 Secrets To A More Efficient Travel Agency
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Transcript of 5 Secrets To A More Efficient Travel Agency
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5 secrets you may be missing…
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Agenda...
-Whyshouldyoulistentome-MarketLandscape-Trends-5Secrets-DigitalPublicationApp-PanelDiscussion
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Why should you listen to me…
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OurmissionImproveyouragency’sbottomlinethroughworkflowmappingandtechnologyanalysis
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Ourpeople…– Innovative– Engineers– 6Sigma– Developers
People
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Ourindustryknowledge spans…
-Travelagents-Airlineemployees-Hotelemployees-Caremployees-Developers-Scripters-Managementconsultants-Engineers
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Ourexperience…
Over350totalon-siteengagements-155corporate- 85leisure- 40consolidators- 24online Helping Agencies
Since 2005
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Ourexperience…
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Wherewehavebeen…
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Market Landscape
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Marketlandscape…
1. Traveliscomplex…
2. Agencybusinessischallenging…
3. Moneytobemadeandvaluetobeadded…
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Traveliscomplex…
-Themarketsarefragmented-Changeisconstant
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Travelvaluechain…
TravelDemand
TravelSupply
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Fragmentation…
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Fragmentation…
Total Cost Per Transaction = $13.44
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Marketlandscape…
1. Traveliscomplex…
2. AgencyBusinessischallenging…
3. Moneytobemadeandvaluetobeadded…
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Agencybusiness ischallenging….
-Clientsaredemanding-Competitionfierce-Increasinglythinmargins
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Agencytrends…
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Fiercecompetition…
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Fiercecompetition…
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Marketlandscape…
1. Traveliscomplex…
2. AgencyBusinessischallenging…
3. Moneytobemadeandvaluetobeadded…
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Moneytobemadeandvaluetobeadded…
-Enternewmarkets-Sellnewproducts-Costsavings-Travelersecurity-Serviceandconvenience
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Travelontherise…
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Travelontherise…
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Valueaddareas….
Source:CWT2013
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Travelvaluechain…
TravelDemand
TravelSupply
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Trends: Cost ManagementRevenue OptimizationDemographic Shift
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Trends:costmanagement…
-Onlinebookingtool-Scripting-Automation
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Costmanagement…
TravelDemand
TravelSupply
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Onlinebookingtool…
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Trends:revenueoptimization…
-Standardcontracting-Supplierrelations
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Revenueoptimization…
TravelDemand
TravelSupply
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ContractOptimizationServices…
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Trends:demographic shift…
-ShoppingMethods-AgencyPopulation
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Demographic shift…
TravelDemand
TravelSupply
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Demographics…
~75%use1-4websites
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Demographics…
Areyoutargetingtherightgroup?
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Agentlearning…
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5 Secrets…
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… how your KPIs compare to your peers/competitors
… If tools you invested in are helping or hindering agents’ productivity
… what does your profitability look like across customer tiers
… where are your hidden costs
… if servicing certain customers may be undermining your profitability
… how to view true transaction-level data to tell you what’s really going on
Doyouknow…
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SowheredoIstart?
-Timedworkflowanalysis-Technologyassessment-Reportingbreakdown-Employeeculturetest-Customersnapshot-Datasecurityscan-Malwareprotectionupdate-Financialintegrityevaluation
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Bit.ly/5SecretsToSuccess
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5Secrets…
1. Wheredoyouspendyoutime?
2. Automationcreation
3. KPIbasedinfrastructureandreporting
4. CustomerManagement
5. EmployeeCulture
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Secret1:Wheredoyouspendyourtime?…
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change
42%AHT:500s
28%AHT:177s
AHT:395s
30%AHT:388s
0 200 400 600
EmailPhone
Walk-InWebsite
0 200 400 600
EmailPhone
Walk-InWebsite
0 200 400 600
EmailPhone
Walk-InWebsite
Front Office Disposition SummarySabre
Average Handle Time
Whereisyourtimespent…
ABC Agency
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5Secrets…
1. Wheredoyouspendyoutime?
2. Automationcreation
3. KPIbasedinfrastructureandreporting
4. CustomerManagement
5. EmployeeCulture
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Secret2:Automationcreation…
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Secret2:AutomationCreation…
PNR CreationShopping
Document Delivery
Update Notifications
Quality Control
Pricing
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5Secrets…
1. Wheredoyouspendyoutime?
2. Automationcreation
3. KPIbasedinfrastructureandreporting
4. CustomerManagement
5. EmployeeCulture
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Functional Area KeyIndicator SuggestedMethods
Salesandmarketing•Customerprofitability analysis
•Customerservice mix•Service feeprofitability
•Build aPNLforeachcustomer•Analyzeeachcustomeronapertransactionbasis
Accountmanagement•Customer retentioneffectiveness
•Service leveleffectiveness•Consultativemanagement
•Analyze pipeline success•Understandcustomerworth
•Completequarterly reviewswithkeycustomers
Operationsmanagement
• Resource andstaffing•Peopledevelopment
•Technologydeployment•Integrationandoptimization
•Process optimizationandcontrol•Measurestaffutilization
Transaction processing•Front-officeeffectiveness
•Mid-officefulfillmenteffectiveness•Back-officeaccounting
•Measure call-handle timeandafter-callwork•Trackerrorsandexceptions
Reportingandanalysis•Agency performance•Supplierperformance•Customerreporting
•Benchmarking
•Measure•Analyze
Secret3:Keyperformanceindicators…
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Average Premier Agency Time Spend
Process Group Corporate Leisure
Initialize 11% 10%
Shop/Price/Sell 28% 49%
Recap/File Finish 17% 18%
QC/Ticketing 18% 6%
Other 26% 17%
Total 100% 100%
Front Office Operational BenchmarkingPremierBenchmarking…
Average Premier Agency Characteristics
Bookings Range 100K-1M
Revenue Range $1M-$15M
Cost savings range $50K- $750K
Hours of observations 10 hrs –50 hrs
Time Period taken 2005-2013
Value of our services $10K-$75K
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5Secrets…
1. Wheredoyouspendyoutime?
2. Automationcreation
3. KPIbasedinfrastructureandreporting
4. CustomerManagement
5. EmployeeCulture
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Secret4:Customermanagement…
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Businessmodelshift…
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5Secrets…
1. Wheredoyouspendyoutime?
2. Automationcreation
3. KPIbasedinfrastructureandreporting
4. CustomerManagement
5. EmployeeCulture
![Page 57: 5 Secrets To A More Efficient Travel Agency](https://reader031.fdocuments.in/reader031/viewer/2022022414/5879f9a91a28ab70298b68b3/html5/thumbnails/57.jpg)
Secret5:Employeeculture…