Why niche is nice

MORE competition is
reducing agents’ slice
of the travel pie and
there’s a risk that financial
returns could become smaller
for those who sell a broad
range of products. With
this in mind, specialising is
the way to go, say industry
experts.
With consumers comparing
many different quotes
from a number of agents
when travelling to popular
destinations such as
Thailand or Mauritius, selling
niche products can be a
differentiator for agents, says
Chrissa Karanastasis, luxury
cruise and travel expert at
Cruise Corner.
Specialist agents also
have the advantage of
having developed strong
relationships with a specific
set of suppliers. There are a
whole range of benefits that
come with the contracts the
agency has with its suppliers,
says Adele Walters, owner
of Road Travel, which
specialises in luxury travel.
This includes the connections
the agency has abroad.
However, there are also a
number of unique challenges
that come with being a
specialist, says Adele. Most
significant is the need to
be constantly on top of your
game and know the product
you are selling inside out.
“You have to be the best at
what you do,” she says.
Penny Bannerman, owner
of Curious Traveller, says with
the advent of social media,
some niche products have
become standard, so to keep
ahead of the pack agents
have to be seen at every
possible trade show and
must find and keep up with
new niche products.
When looking to specialise,
commitment and investment
of time are key. Penny says
it has taken her 20 years
of attending trade shows to
build relationships with the
“best tour operators in the
markets” she operates in.
She says making sure you
connect with the owners of
the companies is important.
In line with this is the
commitment to choosing a
specific area to specialise
in and sticking with it. Penny
says it’s important to realise
that you can’t be everything
to everybody. “Choose a
specialisation that is an
interest or passion.”
She adds that specialising
is not for the faint-hearted
and that it can take up to two
weeks to get one booking
because of the smaller
demand. VIP clients want
their agents to go the extra
mile, Penny adds. This might
involve, for example, securing
a table at a very exclusive
restaurant in Italy. “Handcrafted,
experiential tours
take longer to put together
and it also takes longer to
get quotes.”
Once agents have chosen
their niche, they need to
find ways of circumventing
the challenges that come
with their chosen area of
specialisation, especially if
they’ve chosen an outlandish
destination, says Penny. She
says agents must be able
to advise their clients of the
destination’s particular travel
requirements, such as, for
example, in Cuba travellers
can’t use credit cards that
can be traced back to a
dollar-based company.