The Corporate Travel Opportunity
Corporate travel management (TMC services) provides predictable revenue streams and opportunities for growth. Here's how to build this practice successfully.
Getting Started
Assess Your Capabilities: Corporate travel requires different skills than leisure. Evaluate your team's readiness.
Invest in Technology: Corporate clients expect online booking tools, policy enforcement, and detailed reporting.
Understand Compliance: From duty of care to travel policy enforcement, corporate travel has unique requirements.
Winning Corporate Clients
Target the Right Size: Start with small and mid-size companies where you can compete on service.
Lead with Value: Focus on cost savings, policy compliance, and traveler satisfaction in your pitch.
Demonstrate Expertise: Case studies and references from existing corporate clients build credibility.
Essential TMC Services
- Travel policy development and enforcement
- 24/7 traveler support
- Booking tools and expense integration
- Risk management and duty of care
- Detailed reporting and analytics
- Negotiated rates with preferred suppliers
- Client referrals
- Industry networking
- Geographic expansion
- Service line additions (meetings, groups)
Operational Considerations
Staffing: Corporate travel often requires different hours and skill sets than leisure.
Technology Stack: Online booking tools, expense management integration, and reporting platforms are essential.
Service Level Agreements: Corporate clients expect defined response times and service guarantees.
Growth Strategies
Once established, grow your corporate practice through:
Conclusion
Corporate travel management requires investment but offers substantial rewards for agencies that execute well.