WEBVTT 00:00.000 --> 00:04.160 So it's not as active, it's more of a passive approach, but 00:05.780 --> 00:07.780 looking forward to hearing why we should. 00:08.760 --> 00:13.880 I want to start with the why. 00:13.880 --> 00:17.960 I think tour operators spend too much time focused on tourists. 00:19.240 --> 00:26.480 The way I look at it, if we compare the idea of being a business, we want to look at where is the most 00:26.480 --> 00:29.860 valuable place for you to invest your time as a business owner. 00:29.860 --> 00:34.820 What's going to have the best return on your money and your time? When we break that down, 00:35.320 --> 00:37.920 we start looking at who are we investing in. 00:38.640 --> 00:42.400 We're looking at someone who doesn't live in the area, 00:42.940 --> 00:44.340 never comes back, 00:44.340 --> 00:50.260 and is hard to refer. It gets difficult to generate revenue off that, and it creates 00:50.580 --> 00:55.420 a bit of a roller coaster: the sporadicness, the chasing, 00:55.420 --> 00:57.420 the fill-this-seat feeling. 00:58.100 --> 01:00.100 But when we look behind the scenes, 01:00.400 --> 01:04.020 we look at the difference between investing in a $400 customer 01:04.660 --> 01:10.140 or something like $9,000. When you see the money you can earn from corporate groups, 01:10.140 --> 01:12.320 we can invest more toward getting them, 01:12.760 --> 01:15.680 because of the higher value we get when we win them. 01:15.680 --> 01:20.140 We can raise our cost of acquisition, because we're not just chasing down 01:20.220 --> 01:24.440 a few tickets at a lower price that the OTA is already cutting into, 01:24.660 --> 01:29.020 and not making enough. I'm just tired of tour operators not making enough. 01:29.640 --> 01:35.000 Over the past eight and a half years, I've been a student of workplace culture and productivity. 01:35.220 --> 01:39.260 I've been interviewing companies. I wrote a book about it back in 2019, 01:39.720 --> 01:42.620 and I started piecing things together with the research 01:42.620 --> 01:46.580 I was doing, and with all the friends I have in the tourism industry. 01:46.580 --> 01:51.080 So when you look at these numbers, they may not look like much, 01:51.840 --> 01:53.960 but this is what's happening post COVID. 01:53.960 --> 01:58.100 Post COVID, what we're seeing is that more teams are distributed. 01:58.980 --> 02:03.360 Companies need more reasons to get their teams together for fun things to do. 02:03.520 --> 02:08.380 Companies are finding they need to invest in culture to keep the people they have. 02:08.720 --> 02:13.940 They need more things to do, and there's a big problem when it comes to supply and demand. 02:14.500 --> 02:17.720 There are not enough cool things for companies to do with their teams. 02:18.340 --> 02:23.480 My fear is it's because tour operators are so focused on tourists, when we have an entire 02:23.480 --> 02:28.420 local market in your backyard that wants to do the cool thing you offer. 02:28.940 --> 02:30.940 We just need to put that out there for them. 02:31.240 --> 02:35.000 I'd love a show of hands: who's already working with corporate groups? 02:35.720 --> 02:40.120 Fantastic. Keep those hands up. Who has more than five percent of revenue 02:40.940 --> 02:44.500 from corporate groups? More than five? Who's got more than fifteen percent? 02:45.120 --> 02:51.160 More than twenty five percent in corporate group revenue? More than fifty percent? 02:51.860 --> 02:53.460 55, 52, 02:53.480 --> 02:57.220 maybe. Okay, I want to see some of those numbers go higher. 02:57.800 --> 03:02.080 One of the tours we worked with in Chicago, Chicago Pizza Tours, fantastic individual. 03:02.080 --> 03:07.420 We've seen him go from five percent of his revenue in corporate groups to today, 03:07.420 --> 03:14.380 where over sixty percent of his revenue comes from corporate groups. That means more predictable days, more stable revenue. 03:14.380 --> 03:18.060 I want to see this for you too. I want this for every tour operator in this room. 03:18.060 --> 03:21.880 There is more than enough that all these companies can do with everything great you offer.