Marketing Travel to Wealthy Americans

Before spreading the word about your new service, narrow your target market, then emphasize exactly what sets you apart from competitors

by Karen E. Klein

I'm an American living in the Netherlands and running a small business specializing in corporate events. I'd like to expand into providing travel and personal assistance to wealthy Americans visiting Europe. My question is, how do I introduce myself to potential clients in such a specialized niche market?

—D.K., Alkmaar, Netherlands

You'd be well advised to narrow your target market before you look for clients, says Dick Stroud, a London marketing consultant and author. There are many thousands of wealthy Americans who visit Europe annually—which ones will be interested in your services? Will you cater to business travelers who need fast-moving, intricate itineraries? Luxury travelers who want to experience only the finest, most unique lodging and meals? Families traveling with young children? Elderly vacationers who need slower-paced, less-strenuous plans?

Do some research online to discover what niches are already served, and which seem to be open to more competition (see BusinessWeek.com, 12/11/06, "Finely Tailored Vacations"). Talk to your corporate-event clients and meeting planners about what they have seen and heard from visiting Americans. "You might specialize by geography, such as country or town…or by special interests of travelers, such as wine or art," Stroud says. "The broader the service [you offer], the harder it will be to achieve visibility and to justify your services compared with the generalist travel agents and Internet travel portals like Expedia."

Marketing Basics

You also must decide how your status as an expatriate gives you an edge when it comes to selling U.S. travelers on your service. What is it about U.S. tastes, wants, and needs that you understand and can accommodate better than the myriad European travel companies and tour guides already in operation? You must differentiate yourself in some way, or else you'll have a tough time competing with the big players in the marketplace.

Once you decide on exactly what kind of assistance you'll offer, tease out some obvious and easy-to-understand features of your service. You'll use those five or six unique points to fuel your marketing efforts, generate press coverage, and sell your service directly to potential customers and to intermediaries who will direct their clients to you, Stroud says.

Next, you'll want to devise a publicity campaign that will generate some press in travel journals targeting both wealthy vacationers and travel agents, trip planners, and meeting coordinators. "The specialized travel market, because of its very nature, really does communicate well through the trade press," says Linda Hamburger, principal of OnCallPR, based in Deerfield Beach, Fla. "Most travel professionals read content from various magazines and blogs and direct e-mail news that they receive from international and domestic travel and events trade press. Just seeing your name in these kinds of publications is an indirect introduction to you and will give them familiarity with you."

The Benefits of Association

Stroud advises that you target consumer travel publications such as Condé Nast Traveler and Travel & Leisure. "These are the 'must reads' for the wealthy traveler," he notes. "Virtuoso is a leading travel network that caters to individuals requiring a personalized travel experience. You should consider joining the network or contacting its members and making them aware of your services."

Hamburger also recommends that you join professional trade associations catering to the niche that you carve out for your new business. "The cost for this market niche is surprisingly affordable and yet affords you many pluses, such as discounts on attending trade shows, receiving mailing lists, and asking for personalized introductions through their office services," she says.

Finally, make sure that you set up an attractive, professionally designed (if possible) Web site for your company (see BusinessWeek.com, June/July, 2007, "Web Design Horrors"). This is where most would-be clients will first encounter your service, so it should be impressive. "It doesn't necessarily have to be large in terms of pages, but it must appear to have the same quality feel as your potential clients would get from visiting a luxury hotel or resort," Stroud says.

Karen E. Klein is a business journalist who covers small-business issues for several national publications. She writes her Smart Answers column twice a week.