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The Changing Landscape of Business Travel

Thursday, April 4, 2013

The ongoing global economic downturn has affected nearly all major industries but the effect has been particularly devastating on the global airline industry which has been grappling with various woes like rising fuel costs, falling revenues and rapidly diminishing demand especially in the premium class of travel. In a recent forecast, the International Air Transport Association director general and CEO Giovanni Bisignani, estimated that global airlines would face a 12 percent decline in revenues for 2009.

These airline industry woes have affected all airlines and both the legacy carriers as well as the low cost carriers have had to deal with this changing global economic scenario. While several low cost carriers like the all business class transatlantic services, EOS, Silverjet and Maxjet have simply shut shop and disappeared into oblivion whereas many airlines have even dropped certain routes or reduced the frequency of service to certain destinations in order to combat revenue losses.

Business travel which is usually associated with the premium cabins of airlines has been especially badly affected by the recession as companies all over the world have gone into cost cutting mode and have eliminated or altered their business travel programs in keeping with their new conservation mantra. A recent survey by the Association of Corporate Travel Executives found that more than 70% of corporations were in the process of cutting down on travel budgets by 10% to 20% this year. Additionally, companies such as AT&T have reportedly reduced business travel by 15% through the use of video conferences and web meetings while consulting giant, Accenture has begun the process of setting a network of video conferencing rooms at its various locations worldwide in an effort to limit business travel.

However in spite of all this, the general consensus seems to be that business travel is extremely essential to the conduct of regular business and cannot be done away entirely with especially in situations that demand interpersonal interaction across international borders or require specialized training which needs to be imparted. Some companies do in fact realize this and are currently leaning on their travel departments to control costs by procuring the best airline and hotel deals for their executives who need to make these essential business trips.

Airlines also realize that these business class travelers are their primary source of revenue and profit and need to be retained at any cost. In order to fill their planes and retain custom they have resorted to offering fantastic discounts on tickets for their cabins located in the front of the aircraft. Recently British Airways had a 2-for-1 sale on business-class seats from the United States to London for travel between June 1st and October 31st 2009. This offer was soon followed by similar sales from airlines such as Virgin Atlantic, American Airlines and Continental.

Video Email Applications for Insurance Professionals

Wednesday, April 3, 2013

Insurance professionals, like many others in direct sales, rely on strong relationships to not only maintain, but build their client base. The best way to keep relationships strong is with regular communication, but relying on expensive mailings or lengthy phone conversations is neither cost nor time effective. Video email on the other hand, offers a time-saving and economical way to personally reach clients and prospects. Below are applications insurance professionals can employ in prospecting and customer retention strategies. The focus is not on 'hard' selling, but on educating, demonstrating and personally connecting with consumers through a variety of messages that build trust and familiarity.

Create video emails for the following applications:

1. Highlight policy types offered (life, home, car, health, motorcycle, RV, etc.)

2. Respond to internet inquiries with a video introduction

3. Give price quotes, (attach document if required) compare prices with competitors

4. Explain how to file a claim- demystify the process for wary consumers

5. Give safety tips- For the home: smoke detectors, security systems, fire extinguishers, stair safety (gates and railings), preventing falls, CPR and First Aid training, etc. For vehicles: seat belts, drinking and driving, cell phones and driving, system checks (brakes, tire pressure, lights, fluid levels), following speed limits, watch for pedestrians (especially children), etc.

6. Remind clients of annual coverage review

7. Life changes and how they can effect coverage needs- marriage, births, new job, college, major purchases, retirement and death in family all present reasons to update insurance coverage

8. FAQs on subjects such as: Rates & Payments, Choosing an Agent, Understanding Coverages and Changing a Policy

9. Explain coverage terms- Take the confusion out of insurance terms with clear explanations that help consumers make better coverage choices

10. Special rate offers- Spread the word on discounts and rate reductions

11. Tax savings- An added benefit of saving for retirement

12. Testimonials- Nothing better than customers raving about service and price

13. Event notification and/or invitation

14. Career achievements, community efforts- Mention degrees, certifications and licenses related to the insurance business that underscore experience. Highlight community involvement, affiliations and charitable projects.

15. Non-policy products and services offered: Investments such as Mutual Funds, Brokerage Accounts, IRA Accounts

16. News releases- Discuss breaking news, trends, company press releases, industry challenges, green efforts, etc.

17. Retirement preparedness- Give top 10 ways to save for retirement, include links to calculators and attach a brochure with additional information

19. Updates on insurance legislation- What local, state and national insurance reforms are on lawmakers dockets?

20. Holiday and special occasion touches- Reach out to clients throughout the year to show them they're appreciated!

Each video email application leads to ideas for more uses! By taking the initiative, insurance professionals can transform the way they communicate!

Commercial Real Estate Agents

Let's face it - you cannot intelligently buy commercial real estate properties without the help of an expert. Hiring a commercial real estate agent is your best bet against losing thousands of dollars you'll likely spend, when you make costly mistakes or miss out on solid, commercial real estate investing opportunities. That is why finding and hiring a commercial real estate agent should be your first and most crucial step - it can make or break your commercial real estate venture.

Benefits of hiring commercial real estate agents

Professional commercial real estate agents or broker companies give you access to the best commercial real estate information available. They provide you with information about the latest sales price data, vacancy and absorption rates and comparative tax and labor costs to help you make informed decisions.

Experienced commercial real estate brokers can also help explain to you the present market lease trends, the current demographics, and they will give you a straightforward competitive analysis of different commercial properties that fit your purpose and budget. Professional commercial real estate agents or broker companies give you all this information so that you can anticipate opportunities, gain a competitive advantage and implement the best possible real estate approach.

If you plan to build commercial real estate, an agent can help you determine the best location using scientific local market data and a keen knowledge of the economic trends that affect the commercial real estate market. These agents are specially trained to handle very large transactions - millions upon millions of dollars. Their purpose is to find investments that will not only increase in value, but also give the investor a good revenue stream.

Never try to invest in commercial real estate property without consulting a commercial real estate agent. He or she will have the right training to impart helpful research, advisory and transaction services to you so that your commercial real estate venture goes smoothly.

 

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