p38-39 Know Feature mar27 24/3/09 17:20 Page 38
knowledge generalist v specialist
ttglive.com
Agency strategies
Jack of all trades
or master of one?
As the economic meltdown continues, agents must ask themselves what is the most
profitable business strategy: serving a niche market as a specialist, or being flexible
and selling everything? Four agents share their views with Olivia Hemmings
NON-SPECIALIST
chng
David Hawke, managing director,
Monster Travel (Freedom member)
We launched 11 months
iStockphoto & Stock X
ago to target the mass
market, volume and
scale. Since the collapse
of XL undermined
confidence, business has
been quiet.
November and December were exception-
ally quiet. Our margins have been tighter;
we’ve had to be a lot more price aggressive
than we wanted to be and unfortunately we
haven’t managed to achieve our projected
£20 million-£25 million turnover.
However, we’re not a million miles away
from our forecasts: we’ve so far secured
GENERALIS
T
almost £18 million, which is pleasing.
We’ve not had to make any cutbacks either.
In fact, we’ve gradually grown the number
of staff from 40 when we launched to 62
currently.
All things considered, I’d rather be a
generalist in this environment. I think it’s with suppliers so we get great deals and can Egypt, Turkey, the Canaries and Balearics
dangerous in the current climate to be offer the ultimate in choice and value. And I are popular. More than ever it’s about being
involved in something that’s too niche – place an emphasis on staff training – up to flexible, but not dabbling in something
you fall victim to the all-eggs-in-one-basket 80% of our employees have been pre-trained you’re not an expert in. We’ve just launched
syndrome. We’ve tried to diversify as much but we have a dedicated training manager a ski website, for example, but we wouldn’t
as possible so that we’re not reliant on any and organise for tour operators to come in launch a dedicated cruise site yet, for those
one segment. I think you need every avenue regularly to speak to staff. reasons.
to be open to get all the money you can get Customer requests have changed with the Looking at our trading figures and trends
hold of! recession. The proportion of late sales has to date, I’m hoping to double turnover in the
We also make sure we look after our increased and we’re getting less families, but next 12 months. I’d be really disappointed if
customers by developing good relationships singles, couples, and all-inclusive options to we don’t.
38 27.03.2009
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