The Power of Choosing a Niche

It might seem counterintuitive but focusing on a specific corner of the market — whether that be multi-generational travel, cruising or European vacations —is key. Doing so can turn your travel agency into a powerhouse, enabling your business to attract more clients, while showcasing you as an expert in a specific area. You’ll also spend less time researching trips as you continue to build your knowledge about your specific target audience and their needs.

This philosophy is one that Sharon Little, Owner of Bespoke Travel Group, always believed. She knew that, at some point, she would become known for a niche of her own. After all, she had always worked in one, initially in sports travel in the United Kingdom, and then in romance travel thereafter. But an even more specific corner of the market became clear in 2011 on a trip to Jamaica.

“I noticed at every property I visited, there were several weddings each day,” says Little. It turns out that Jamaica is one of the easiest places for Americans to get married legally, and the island offers several other perks for couples, including tropical vibes and close proximity to the East Coast and Midwest. Little also loved the island, so the decision she made was easy: her agency, Bespoke Travel Group (formerly known as Wedding and Honeymoon Travel Group), would focus on couples headed to Jamaica for weddings or honeymoons. “It was my niche within a niche,” Little jokes.

For three to four years, Little only booked these two types of trips, despite getting inquiries for other destinations. Working with top suppliers and vendors, she quickly achieved her goal and became the leading agency for weddings on the island. Although Bespoke Travel now offers trips to a variety of other islands and Mexico, Little is first and foremost an authority on Jamaican romance travel.

“If you're good at what you do, and you have that knowledge, you become the authority for that niche and the go-to person,” said Little. “Not only were we getting referral business from our customers, but the partners that we worked with often recommended us to their clients, too.”

By zeroing in on a specific travel segment, Little's reputation precedes her. Her job also requires far less research than if she were booking for a broader range of destinations, saving her valuable time on a day-to-day basis.

“We know what time the sun sets and what time the sun's actually going down. We know how windy that location is. We know how long it's going to take the bride to get from her room to the altar and we know what the walkway looks like. Essentially, we know every minute detail. To me, that's a huge benefit I can offer clients,” Little says. “It also makes the job exponentially easier. Once you have your niche down, you basically know everything, or the majority of the knowledge that you need for every single inquiry.”

Another advantage of a specialization is that competition is reduced and the return on budgeting dollars — because they are focused — is higher. "I'd much rather be laser focused on a smaller audience but convert them to clients at a much higher rate," says Little.

How to find your own niche

This starts with discovering your passion. Little suggests asking yourself what you enjoy selling. Whether it is retreat trips for artists, deep sea fishing excursions or heritage travel to Eastern Europe, it is crucial that you truly enjoy that type of travel and crafting those itineraries.

“If you're a generalist right now, look at all the different types of travel you are booking,” Little suggests. “Maybe you love planning European itineraries or multi-generational families getting together and having a great experience. Regardless, it must be something you really love. If you aren’t excited about it, it’s not your niche.”

Next, research the market to understand if you can make a living on that slice of the pie. Is it big enough? Is it already saturated? In finding or developing your niche market, ensure it has accessible customers, room for growth, and no dominant competition.

Identifying and researching areas you are passionate about can be the fun part. Where most advisors get stuck is committing to their chosen niche. For a period, this likely means turning down work and getting through a hard transition period with a lower income stream. In Little’s case, she planned for a slow period of three to six months — the approximate amount of time it took her to change her message and let it filter down to her target customers. The success that followed is a testament to the idea that the foundation for a great business takes time and patience.

Little’s advice to weather the transition is to be prepared for short term losses, partner with the best vendors and suppliers, and keep your eye on the long game. Now with 10 years of business behind her, she says the payoff is worth the initial hardships she had to overcome. Luckily for her, in just 12 to 18 months she was pulling in over a million dollars in revenue.

Get your message out there

Like so many elements of business today, social media is a key to keeping clients informed of any pivot your agency makes. Use these channels to communicate what your agency is learning and where it is going. "You're just trying to get the word out there,” says Little. “'Hey, I'm doing this class today,' or, 'Hey, I'm in this destination today, and I'm learning about this.' It's about involving them in your learning process. In keeping them updated and letting them know what it is that you're doing, you're developing your education and keeping clients informed.”

When Little was starting out, social media wasn’t what it is today and she didn’t have a significant following. She turned to referrals, which is another classic tool to help grow a niche market. In the world of romance travel, it is likely that every bride getting married knows at least three other brides getting married within a couple of years. Little seized on that opportunity. “We would go to our brides with a referral program and ask them if they knew anyone getting married or getting engaged,” she explains. “We would ask them if they knew anyone or heard of anyone who's looking for this type of service, to please keep us in mind. And, that has worked really, really well for us.”

The work of having an agency focused on a niche isn’t done after you have a regular roster of clients booking trips. Tending to your niche is just as important as committing to it. “It's a partnership and a relationship that needs continuous nurturing,” says Little. “There's high turnover in the hotels and the wedding teams, and properties constantly have new products, new packages and new customizations you need to know about.”

Focusing on a niche requires finding your passion, committing to your corner of the market and constantly nurturing its growth. "I don't want to be a Jack of all trades, master of none,” Little says. "I want to be a big fish in a small pond. Because for me, sticking to a niche has absolutely worked.”

In searching for your own portion of paradise, remember that new niches are created all the time — think film tourism, trips for those who only travel with pets or adventure travel for women over 50. For Little, it was a perfect pairing of romance and an accommodating island in the West Indies. For you, the opportunities are endless.

Originally appeared in the spring 2022 issue of The Compass magazine.