As a passionate tour business owner, you’re constantly seeking ways to grow your income and stabilize your business. One often overlooked opportunity that could really uplevel your operations and your revenue is the corporate market.
Venturing into corporate tours can be a boost for your business, offering a path to diversify your revenue streams and move past the traditional seasonal nature of the tourism industry.
Understanding Corporate Tours
Corporate tours encompass a wide range of experiences tailored for companies and organizations. These can include:
- Team-building activities
- Incentive travel programs
- Client entertainment and engagement events
- Holiday parties and celebrations
- VIP experiences for executives or important clients
The beauty of corporate tours lies in their versatility. Whether you’re currently offering city walks, food tours, or adventure experiences, there’s likely a way to adapt your offerings to serve corporate clients.
The Allure of Corporate Business
Picture this scenario: It’s a Tuesday morning in what would typically be your slow season. But instead of worrying about how to make ends meet, you’re preparing to welcome a group of 50 executives from a Fortune 500 company. They’ve booked your premium city experience, complete with exclusive access to local landmarks and a gourmet lunch at a trendy restaurant.
This isn’t a one-off event. The company was so impressed with your services that they’ve already penciled in dates for the next quarter. And the best part? They’ve paid in advance, providing you with a much-needed cash flow boost during your traditional off-season.
This is the power of corporate tours. They offer the potential for regular, repeat business that can really shift your financial landscape. With corporate clients, you’re not just selling tours; you’re building relationships that can lead to steady income for years to come.
Moreover, corporate budgets often allow for premium pricing. That tour you usually offer for $100 per person? For a customized corporate experience, you might be charging $250 or more. And without the hefty commissions typically paid to online travel agents, a larger portion of that fee goes straight to your bottom line.
Challenges to Consider
While the rewards can be substantial, entering the corporate space requires careful consideration and planning. Here are some challenges you might face:
- Product Adaptation: You’ll need to adapt your current offerings or create entirely new products to cater to corporate clients. This means developing dedicated marketing campaigns, sales funnels, and potentially even a new section on your website.
- Increased Complexity: Managing corporate tours can add layers of complexity to your business. You’ll need to stay disciplined and develop efficient systems to handle these new demands.
- Marketing and Networking: Finding the right contacts within companies can be challenging. You’ll need to hone your networking and sales skills to break through to decision-makers.
- Long Sales Cycles: Corporate bookings often involve longer lead times and multiple touchpoints before closing a deal.
- Diverse Demands: Different corporate segments may have very different needs. It’s important to understand your niche and set clear boundaries to avoid overextending your resources.
Is Corporate Right for You?
As you think about the possibilities with a corporate clientele, think about where you’re located. Are there sleek office buildings housing potential corporate clients? Do you regularly spot groups of conference attendees exploring the city? Your local landscape can offer valuable clues about the corporate potential in your area.
Next, think about your tours. What makes them special? Perhaps it’s your knack for storytelling, your insider knowledge of local cuisine, or your ability to create a sense of camaraderie among strangers. These unique strengths could be the key to carving out your niche in the corporate market.
Consider reaching out to some of your past guests who mentioned they worked for large companies. Invite them for a coffee and pick their brains about what their company looks for in team events or client entertainment. These conversations can provide invaluable insights as you shape your corporate offerings.
Steps to Enter the Corporate Market
If you decide to pursue corporate tours, here’s a roadmap to get started:
- Define Your Niche: Choose a specific segment of the corporate market that aligns with your strengths and interests.
- Develop Your Offerings: Create or adapt tours and experiences that cater to your chosen niche. Consider factors like group size, duration, and specific corporate objectives (team building, client entertainment, etc.).
- Create Marketing Materials: Develop targeted marketing collateral, including a dedicated section on your website, brochures, and pitch decks.
- Build a Network: Attend industry events, join business associations, and leverage social media to connect with potential corporate clients.
- Refine Your Sales Process: Develop a sales funnel specific to corporate clients, including inquiry handling, proposal creation, and follow-up procedures.
- Pilot and Refine: Start with a few pilot programs, gather feedback, and continuously refine your offerings based on client responses.
The Potential for Transformation
Venturing into corporate tours isn’t just about increasing revenue—it’s about creating a more resilient, diversified business that can thrive year-round. With the right approach, you can transform your tour business into a powerhouse that serves both leisure and corporate markets, creating the success and stability you’ve been working toward.
Remember, success in the corporate market doesn’t happen overnight. Just like anything in business, it requires patience, persistence, and a willingness to adapt. But for those who commit to this path, the rewards can be substantial—not just in terms of increased revenue, but also in the satisfaction of creating meaningful experiences that contribute to corporate culture and success.
About Kelsey Tonner
Kelsey Tonner is the founder of Guest Focus Tour Business Coaching and for two decades he’s been helping tour business owners as a mentor, consultant, speaker, experience designer, guide trainer, and award-winning tour leader.
Since 2015, their programs have helped over 2,000 tour operators from 75+ countries around the world and Kelsey has been a regular speaker at over 35 industry events and conferences. Want support? Book a free 45-minute strategy call with one of the Guest Focus coaches today!
