What is the right hosting agency for you?
From time to time, we need to remind independent consultants that there are options to help them go it alone. This has become more crucial as the travel industry has changed with the pandemic. Over the past two years, we have seen many travel advisors reassess their business partners, including their suppliers, consortia or hospitality agencies. Therefore, it is again time to consider the options.
Selecting the optimal hosting agency is an important decision. The host can provide revenue potential, effective marketing, technology solutions, and support staff. But not all hospitality agencies are created equal, so understanding the differences is imperative. Here’s what you should look for in a hosting agency:
– A fee structure with no hidden costs or start-up costs that could hurt your profit potential. The terms of the contract should be flexible to allow you to change at any time.
– Earning potential with 100% of all commissions earned on what you sell. Comparing commission levels is key to maximizing earning potential.
– The marketing assistance provided by a host agency is essential as it allows an independent advisor to grow their business.
– Connections – a host agency provides can make a significant difference in earning potential. The vendor relationships a host has can help an advisor gain a competitive advantage with customers, such as access to Virtuoso and its marketing prowess.
– Host agency support makes a huge difference. The right host can help improve an advisor’s reputation and image, streamline operations, and grow their customer base.
– Technology can also be a major advantage for independent contractors. Technology provided by host agencies may include front-office and back-office software, custom e-invoicing and management reporting. Technology support allows advisors to spend more time developing and serving their clients.
– Dedicated support staff who make advisors feel like individuals, but will also solve problems, especially during difficult times. Staff members who provide professional development, such as how to use social media effectively and how to charge fees. Staff who provide accounting, administration, human resources, legal advice and IT infrastructure.