Aquilium Travel has shared how it helps its homeworking agents to find high-net-worth clients, after enjoying a major boost in business earlier this year.
The UK luxury travel agency reported a 50% bookings increase last month, which it largely credits to the recent investment of industry veteran Jen Atkinson. The Travel Seen founder is now a majority shareholder in Aquilium, bringing with her a wealth of expertise in using social media to drive sales.
The news coincides with the appointment of recruitment manager Louise Baxendell, who will focus on doubling Aquilium’s homeworking team in the next 12 months.
Another priority, however, for the company, is to help its agents to connect with affluent clients. With the luxury travel sector predicted to grow at a CAGR (Compound Annual Growth Rate) of 6.5% in the next ten years, targeting high-net-worth individuals is a key focus for Aquilium.
While its advisors are always free to find their own leads, the group offers a number of resources – including a lead generation scheme introduced by Atkinson – to introduce homeworkers to more customers.
Aquilium co-founder Gary Pridmore has also shared a number of ways agents, regardless of their background, can find high-net-worth clients and, hopefully, start making more profitable bookings.
Follow the rich
Pridmore explains that it’s important for travel agents to look beyond their local community to find high-net-worth clients, especially if they don’t live in an affluent area. At Aquilium, the team regularly gives their advisors ideas on how to integrate into these circles – and that starts with the appropriate training.
“We need to be mindful of taking people out of their comfort zone, so it’s a strong conversation we have with our agents,” Pridmore explains. After that, Aquilium offers advisors suggestions for places to connect with high-network individuals, such as tennis clubs or luxury car dealerships. These public spaces can be a great platform to advertise and promote luxury travel services, as they are are already being frequented by high-spending customers.
Partner up
One of the most effective tricks for travel agents to find high-net-worth clients is to team up with businesses that already cater to those individuals, says Pridmore.
Golf clubs and health spas are a good shout, as they tend to have repeat customers with disposable incomes. In exchange for promoting their services, the agents can offer incentives or discounted rates to the business’s staff.
Pridmore also stresses the importance of partnering with businesses whose customers are likely to travel in the near future, such as engaged couples or newlyweds. An example of such a vendor would be a florist or a photography shop, which tends to be catering to celebratory events that often involve a holiday.
“Our agents introduce themselves to the business and offer a complimentary consultation to their clients, to discuss ideas for destination weddings or honeymoons,” Pridmore says.
Forget the obvious
A rookie mistake many luxury agents make at trade events is overly focusing on a specific target market. This is particularly evident at wedding fairs, says Pridmore, where it is often assumed by suppliers that the bride is the only one spending money.
“I always encourage my agents to talk to everyone else, such as the bridesmaid, who is likely planning the hen do, along with the other vendors,” he says. He adds that it’s helpful to have something exciting to engage attendees at these events, such as a raffle with a prize of champagne.
Pridmore also assures his agents to stay positive, reminding them that unlike many other products, the demand for travel never expires.
“Even if I’ve booked a holiday for this year and for next year, I’ll still book another holiday. Everybody’s looking to travel,” he says. “It’s not handbags where you only have a limited market!”
