The Circular Business Cycle

Our businesses operate in a circular business cycle, which is a continuous process of finding new clients, converting leads and nurturing existing relationships.

Let’s dive into each part of this circle.

Client Acquisition

Especially for new agents, connecting with potential clients is your top priority. A business cannot thrive without a solid client base.

Marketing plays a dual role: it not only helps in acquiring new clients but also nurtures existing relationships, leading to repeat business.

Leverage the social media platforms that you can be consistent on. Consistency in marketing is key. Focus on manageable, consistent actions that fit their schedules.

Converting Leads to Sales

Once someone contacts you for a trip, your next step is converting the potential client into an actual client.

Before any quote is issued, you need to qualify your lead by asking detailed questions to understand their needs and preferences. These questions lead to quotes that are curated for that potential client. Focusing your attention on the relationship during this phase is essential to closing the sale.  

Keep track of your quotes. Look at your quote-to-close ratio, which indicates how many quotes result in actual bookings, this metric allows you to see how effective your sales process is.  

Client Retention: Loyalty Is Earned

Loyalty is our responsibility, not the client’s. We have to nurture the relationship after they travel. Maintaining relationships through consistent communication and marketing efforts is essential for fostering repeat business and referrals.

If you do not actively engage with clients after their trips, you risk losing them to competitors.

This is why I wholeheartedly suggest utilizing email marketing and a customer relationship management (CRM) system to help track client interactions and show up in their world after their trip.

The weekly email you send to your list has a lot of power. Not only does that email nurture new leads, you also show up and remind your past clients that you are still here for them, which leads to repeat bookings and referrals.

Looking at your business in this holistic way helps you to continue growth with new and past clients.