by Robin Amster
Last updated: 9:00 PM ET, Tue September 26, 2017
Veteran travel agent Michelle Woodson Howell has launched a new course that offers agents step-by-step training in how to grow their business through joint venture partnerships.
Introduced Sept. 14, the course is called Drink Outside the Box! How to Grow Your Travel Business with Joint Venture Partnerships. It features four video modules and a slew of bonus templates that provide agents with the turnkey materials they need to begin approaching potential business partners.
It can be accessed online via a members-only portal while a members-only Facebook group provides guidance and support.
Woodson Howell is the owner of luxury travel agency MH Signature Journeys. She created the course after experiencing tremendous success in her own business through the joint venture (JV) strategy.
The course comes at an opportune time for the travel industry, according to Woodson Howell.
Citing a survey by EventTrack, she said a growing number of businesses are recognizing the power of experiential (event-based, in-person) marketing.
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According to the survey, 65 percent of brands see a direct correlation between experiential marketing and sales, gradually increasing their budgets for experiential marketing since 2014. Agents can take advantage of the experiential marketing trend by positioning themselves as experiential travel experts, Woodson Howell said.
Through joint venture partnerships, agents partner with business owners to create group travel experiences for the business's best customers. That leads to valuable customer-created marketing content and increased loyalty.
Woodson Howell said she first heard about the JV strategy in 2013 at a Global Institute for Travel Entrepreneurs (GIFTE) marketing conference. Since then, she perfected her own approach to prospecting and securing lucrative JV partnerships with businesses for affinity group travel.
An estimated 80 percent of her business now comes from JV partnerships, with each JV group trip bringing in at least $200,000 in sales, she said.
Woodson Howell sees huge potential for agents who implement the JV strategy.
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"The agents who I've helped implement this strategy have seen their commissions soar-and some even earned their highest commissions ever this way," said Woodson Howell.
"But the JV strategy also helps bring more balance to your travel business," she added. "Instead of always hunting for new leads, your JV partner brings them to you so you can say goodbye to hours spent prospecting."
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