Agents need to take time out to review their businesses if they are to effectively improve and market them.
Speaking at the Association of Independent Tour Operators Specialist Travel Agents conference held last weekend in Warwick, Cannon Travel managing director Kevin Brooks admitted that business owners are probably more focused on driving sales than taking the time out to analyse their businesses.
However, he urged bosses to make an effort to review every aspect of their business to understand their strengths and weaknesses.
Brooks said: “It is worth taking a bit of time to look at your business in a different way as you may benefit.”
He recommended agents use a number of different business analysis tools including segmentation, which allows you to break your business into manageable chunks to review it, and the Boston box, which allows an agents to analyse the value of product sales.
Brooks said these reviews will allow agents to work out how best to target a rival agencies business and grow their own market share.