I’ve heard the term "strategic partnerships’"used throughout my travel agency career and I’m just not quite sure what they mean or why a travel agent would even need to partner with anyone. Can you help me figure this out? I really want my business to succeed.
If you want your business to succeed, then it’s extremely important that you wrap your head around this term ‘strategic partnerships.’ A strategic partnership is collaborating with someone who is not your direct competitor. Your relationship is mutually beneficial. Every successful business uses it at some point. Think about how Barnes & noble has a Starbucks in their store or how you can find Dunkin Donuts and Baskin’ Robbins sharing space. Partnering with other companies can make your travel agency business even more profitable.
I know because I’ve done it several times in my career.
In 2013, I partnered with several entrepreneurs, including Kevin Harrington (Shark Tank and As Seen on TV). I’ve also had the chance to form other partnerships in my role as the travel expert on ABC’s Tampa Bay Morning Blend in Florida. I brought in sponsors for the segment. We help each other get the word out about travel.
I have built a career around leveraging partnerships with other businesses. The viewers weren’t watching just me on the show. It made the segments more fun and informative and benefited both of us.
Who can you partner with?
Are you interested in growing locally? Then perhaps you can leverage a partnership with another local business or not-for-profit? How about partnering with a local event that can help to promote your business? Maybe you can partner with a travel doctor to put on seminars about keeping healthy while traveling internationally. You can also partner with a spa or a car dealership as a travel incentive. You can provide trip giveaways with your vendor to promote both brands. The opportunities are endless.
Being a travel agent is not a solitary business, so think out-of-the-box and look at your contacts. You just might find a strategic partnership that works for you.