GTA VAM Project FINAL, Val Misra

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v

$24M Virtual Account Management Project

Val Misra, US Senior Strategy Manager / Senior Project Manager November 2016

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Content

1.  Background 2.  Objectives 3.  Deliverables 4.  Functional Impact Assessment 5.  Risks Identification & Assessment 6.  VAM Project – High Level Plan 7.  4 VAM Portfolios 8.  Measures of Success 9.  Training Program for VAMs 10. VAM Accounts Call Brief 11. Sales-force Call Events Process 12. VAM Project Process & Analytics 13. Next Steps

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Background

The Need To Manage The Long Tail/Unmanaged Accounts of the US TravelBound Business

1.  A detailed analysis of the TravelBound business conducted in Q1 2015 revealed that there is a large number of very small clients in our base that generate TTV/Revenue on a fixed, recurring basis

2.  The current account management model is based on face to face BDM roles that split the accounts by territory

3.  This model proved insufficient to cover effectively the whole base, creating a long tail of clients that are effectively unmanaged (4,239 unmanaged accounts generating $24M TTV/Revenue annually)

4.  Recommend to execute an Inside Sales function to manage all clients currently identified as belonging to the unmanaged ‘Long Tail’ of our client base

5.  Analysis of size and potential of clients identified what clients should be managed by the Inside Sales function

6.  There are enough clients to create 4 VAM portfolios 7.  The project and the team that will ensue from it have been recently renamed Virtual Account

Management (yet to be confirmed)

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Objectives

Q: Why Do We Need A Virtual Account Management Project?

1.  The Primary Objective of the VAM Project is to a be a ‘A/B Test’ or ‘Proof of Concept’ for the VAM function for US TravelBound and increase TTV/Revenues for the ‘Long Tail’ Accounts

•  The function will be run on a pilot basis only on two portfolios (pilot group) •  Two other portfolios (control group) will be left unmanaged •  At the end of the pilot, results will be compared between the pilot and control group •  A decision will be made on whether to progress to full implementation mode or whether the

pilot should be ended 2.  The Secondary Objective of the Project is to prove the concept and build on the learnings with the

intention of replicating this model to other regions (S. America, Europe, Australia)

Out Of Scope

This Project will not manage the VAM team moving forward on a BAU basis. Once the Project is Successful: 1.  A TL for VAM team will be hired 2.  The 2 BDMs will be moved to the TL 3.  The TL will hire 2 additional BDMs

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Deliverables

Q: What Are We Setting To Achieve With The Virtual Account Management Project?

Work Stream Deliverable What it does

Organization Create the VAM pilot team Hire, onboard, set up two VAM pilot BDMs

Office infrastructure Space for VAM BDM Create in a future proof manner thinking of need for extra two BMDs and for TL

Salesforce Set up of VAM in SF Setting up of BDMs, clients, end to end process, trigger setting

Telephony Set up VAM team with telephony solution Identify best telephony solutions, set up and integrate to SF

Marketing VP alignment Define what we sell, what is the value proposition of what we sell and whether we need to create call briefings

Commercial Criteria to be an VAM client

Define clear criteria on when a client should be managed remotely and when it should be managed face to face. Decide how often review should be made to move clients from one channel to another

Reporting and Insights

Set up a Customer Insights function

Understand what clients to call, what conversations to have, space to capture call data in SF, process to utilise call data with other data in order to create more insights and more calls

Evaluation and Deployment

Evaluate success of pilot and decide on set up of

VAM team

Define measures of success, measure KPIs, evaluate results, decide whether to stop pilot, continue pilot but differently or to move to full launch. Evaluate implication on BDM training and customer treatment

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Functional Impact Assessment

Q: What Impact Does The Implementation of VAM Project Have On Different Business Functions?

Function Impact Severity Mitigating Action

SPD Changes in SF and maintenance of ongoing VAM project Low Client accounts to be updated with

BDM coverage

Sales Alert Sales teams of new BDMs and SF update in process Med-Low Send out email alert to Sales teams

with updates

Marketing Develop new strategies to target smaller accounts (long tail) Low Marketing to understand new clients

and tailor strategy

Revenue Management

Greater options for existing accounts and new price models Med-Low Alert revenue management team of

new client accounts in focus

Operations May have new small account issues to handle, especially for host clients Low Alert operations in advance

HR Hiring, on-boarding 2 new BDMs High-Med Decision: new hires, contract, internal lateral shift or secondment

IT Updates in SF, Atlas, CBS (if project is successful) Low On-Going platform updates as client

accounts progress

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Risks Identification & Assessment

Q: What Are The Potential Risks For The Project And On Possible Mitigating Actions?

Risk Description Impact Probability Mitigating action

Not Having The Team In Time

There is the risk that recruitment may take longer than expected in

order to find the right type of people H M

Start recruiting now Try and find internal candidates

where possible, also on secondment basis

Consider agency personnel?

Project Goal Definitions

There is the risk that Senior Management and the US Sales

team may not always be aligned on Project Objectives (A/B Test vs.

Only Business Results)

H M

Have weekly meetings between Senior Management and US Sales

team for strategic alignment, message and feedback

Global Project Alignment & Coordination

There is the risk that Senior Management in the UK and US may

not align on many key Project issues

H H

Have monthly Steering Meeting to brief UK/US Senior Management and align on strategic direction,

issues and feedback

Technology Time-Frame

There is a risk that setting up the required New Forms and Process in

Sales-force will take longer time H M

Start working on Sales-force forms immediately for planning and

execution

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WORKSTREAMS AND ACTIVITIESSet up project governanceData and scopingFeasibility assessmentOrganizationOffice InfrastructureIT InfrastructureTelephonyMarketingCommercialReporting and InsightsEvaluation and next phase

JAN FEB2017

APR MAY2016

MARAPR MAY JUN JUL AUG SEP OCT NOV DEC

VAM Project - High Level Plan

Overall Status: Project is proceeding ‘Well’ as per schedule

Milestones Achieved: 1.  US Senior Manager SPD hired – Val (Completed) 2.  2 VAMs hired – Alex and Camila (Completed) 3.  2 VAMs’ training program completed in US and London (New) 4.  4 VAM Portfolios completed (New) 5.  First ‘VAM Account Calls’ started Wednesday 27th September 2016 (New) 6.  Have a Go-No Go decision at the end of December 2016 for project extension (Future) 7.  Have Final US VAM Project results by May 2017 (Future)

First call

Go-‐No go decision Final decision

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4 VAM Portfolios

4,239 Unmanaged Accounts to be Split into 4 Portfolios with 950 Accounts Each

Analysis: 1.  TravelBound Account types: (i) Strategic Accounts (SAM): Most important to business TTV>$100K

(ii) BDM Accounts: $20K<TTV<$100K, (iii) VAM Accounts: TTV<$20K, (d) Host Accounts: Work from home model, biggest opportunity, (e) Independent Accounts: Work independently of Consortia

3.  Criteria for 4 Portfolios: Even balance of no. of accounts and TTV across Portfolios, Importance to TravelBound business, Client IDs tied to SAM Accounts kept in same portfolio

3. Each of 4 Portfolios contains approx. 948 accounts and $5.8M TTV 2015 (Departures) 4. TravelBound Priority Accounts (tied to SAM/Host) strategically placed into Portfolios 1 & 2 (managed) 5. Portfolio 1: Camila managed, Portfolio 2: Alex managed, Portfolios 3 & 4: Unmanaged

No. CCC Support

Accounts In Scope

(Unmanaged)

Accounts’ Profile

Account Types

VAM Covered Accounts

Total Accounts’ 2015 €TTV

Total Accounts’ 2015 £TTV

Total Accounts’ 2015 $TTV

4,239 < $20K 2015 $TTV

SAM, Host, BDM,

Independent

All Account Types at Client Branch Level

€23.23M £19.75M $24.25M

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Measures of Success

How Are We Going To Measure The Success Of The VAM Project?

Item Number Analytical Measure

1. TTV of Pilot Group > TTV of Control Group by X% during the Pilot Period

2. TTV of Pilot Group in 2016 > TTV of Pilot Group in 2015 by X%

3. TTV of Whole TB Business in 2016 > TTV of Whole TB Business in 2015

4. RN of Pilot group > RN of Control Group by X% during the Pilot Period

5. RN of Pilot group in 2016 > RN of Pilot Group in 2015 by X%

6. RN of Whole TB Business in 2016 > RN of Whole TB Business in 2015

7. Net Margin % of Pilot vs. Control Group? Contribution of TB YOY Comparison?

8. Client Feedback? Virtual Account Manager? Customer Survey? Using of NPS?

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Training Program for VAMs

Status: Completed

Monday 29/8 Tuesday 30/8 Wednesday 31/8 Thursday 1/9 Friday 2/9 Monday 5/9 Tuesday 6/9 Wednesday 7/9 Thursday 8/9 Friday 9/9 Saturday 10/9Camila

Monday 12/9Camila

Tuesday 13/9Camila

Wednesday 14/9Camila

Thursday 15/9Camila

Friday 16/9Alex

Monday 12/9Alex

Tuesday 13/9Alex Wednesday

14/9Alex

Thursday 15/9Alex

Friday 16/9Camila Monday

19/9Camila Tuesday

20/9Camila

Tuesday 21/9Camila

Wednesday 22/9Camila

Thursday 23/9Camila

Friday 24/9Alex Monday 19/9

9:00-‐9:30

9:30-‐10:00

10:00-‐10:30Meet with Greta Van

Houtven

10:30-‐11:00Meet with Flavia

Alzetta

11:00-‐11:30

11:30-‐12:00

12:00-‐12:30 LUNCH LUNCH LUNCH LUNCH LUNCH

12:30-‐1:00

1:00-‐1:30

1:30-‐2:00

2:00-‐2:30

2:30-‐3:00

3:00-‐3:30

3:30-‐4

4:00-‐4:30

4:30-‐5

5:00-‐5:30

**VAM Project Objectives, Portfolios

Overview with Val Misra

Atlas Training with Samy Menashy

RBS Training with Patrick Creary

Marketing Training with Carmen Cedeno

Marketing Training with Bob Ward

LUNCH LUNCH LUNCH

Operations Training with Teisha Seales

Operations Training with Michelle FindlayVAM Individual Review

of Training Sessions

Online CVP Training (Double

Check With Stephanie -‐ online

tool)

LUNCHLUNCH LUNCH

Sourcing Training with Laura Humanez

VAM Individual Review of Training Sessions

VAM Individual Review of Leon

New York

Time /Date

Operations Training with Stephanie DiNatale

Meet with Roberta Rampazzo (Zoom)

Value Selling Training Day 2

Salesforce/Atlas Training withKati Rautanen

(Zoom)Operations Trainingwith Gina Cummings

CVP Training with Stephanie Hultin

(Zoom)

Meet with London SPD Team-‐ Vikram

VAMs Fly Lon-‐-‐>NYLUNCH

Presentation & Telephony Skills

Training


London

US HOLIDAYVAMs Fly NY-‐-‐>Lon

Roberta Rampazzo Morning Breakfast

8am

Value Selling Training Day 1 9am


LUNCH

Camila Meet with Debbie Donovan

(1)

Camila Meet with James Phillips

(1)

Alex Meet with Tommy Ryder

(2)

Alex Meet with Debbie Donovan

(2)

New York New York

Camila Meet with Tommy Ryder

(1)

Alex Fly NY-‐-‐>Pittsb

Alex's Shadow a BDM with Linda Heckman in Pittsburgh

Camila Meet with Aimie Johnson

(1)

LUNCH

Camila Meet with Grant Hayes (1)

LUNCH LUNCH LUNCH

Camila's Portfolio Accounts with Val

(1)

Camila Meet with Michele Keally

(1)

Camila Fly NY-‐-‐> DC

Camila's Shadow a BDM with Debbie Spatola in Washington DCLUNCH

Alex Meet with Michele Keally

(2)

Alex Meet with Aimie Johnson

(2)

Alex Meet with Grant Hayes(2)

Alex Meet with James Phillips

(2)

Alex Portfolio Accounts with VAL

(2)

LUNCH

US Meetings / Inductions

US Sales Team (VP Sales & Marketing US/Senior Management, SAMs, Shadow a BDM 2 Days), Operations, Marketing, CVP Training, Sourcing, Finance, Atlas/SalesForce Training, Leon Courses

Training

London Meetings / Inductions

SVP Global Sales & Marketing, London SPD Team, Webtrends Training, Value Selling Training 2 Days, SIP Training

•  3 Week Intensive Program with firm-wide departments (New York & London) created and deployed

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VAM Accounts Call Brief

Status: Completed

Example TIPS

1Hi 'Agent name', my name is ____________and I am calling from Travel Bound. How are you? .....I am your new Virtual Account Manager. Do you have a quick minute to go over your account? If Yes? (Proceed with Step 2) If No follow step below ) 1.1

Use Agent name if available Use a warn positive welcome tone

Tell them why you’re calling Be ready to answer questions about

your role (what is a VAM?)How much do you know about TB?

1.1

Scenario 1 Great. Agent name , I know you’re busy. I’m just trying to check your calendar availability next week to see when you have 5-‐10 minutes for a quick call. Scenario 2 Thanks for your time, Agent name, can we schedule a call for ___________? or when is the best time for you?

If agent is unable to speak at the moment quickly try to find out when is

the best time to call back.

WE HAVE IDENTIFIED YOU AS A KEY PARTNER AND WANT TO GROW WITH YOU. WHAT IS IMPORTANT TO YOU/ARE YOUR KEY DRIVERS? (COMMISSION, TRAINING, MARKETING SUPPORT, CUSTOMER RESOLUTIONS, AGENT INCENTIVES, ETC.). CVP IS RESPONSE TO KEY DRIVERS

CVP IS RESPONSE TO KEY DRIVERS

I would like to follow up on a past issue with our... (e.g. transfers service). Were you satisfied with the outcome? What can we do to avoid this kind of issue in the future?We would like to thank you for your current business and possibly explore new ways to increase them. In what areas do you feel we could assist you? I noticed a huge drop in revenue YOY and we would like to find out what is the reason behind it and if there is anything we could help you to get back on track.Go over our effective selling technology available to you, our POS is very user friendly and highlights top-‐picks and recommended hotels with offers and discounts built into the final cost, making it easier to put together a trip including transfers and tours to generate a higher profit for your agency.

Go over our extensive cross selling options to increase sales and new dedicated crisis management team, which gives you peace of mind when booking your clients vacations

We would like to tell you more about our exciting new products and current promotions, we just contracted dozens of airport lounges around the world and we believe this could be a great selling point for your clients. Or if there is any area where you need help please let us know. As I’ve noticed you are only approx. 10 bookings away from reaching your next commission increase. We currently have great promotions in Rome and I’m sure we can put something together to get you to your target by the end of the year.(1) CHOICE that delights your travellers • I noticed you booked several reservations to Cancun in the past, did you know we now have over 7K beach properties and expect to have 10K by the end of the year? • Did you know what we have over 8500 tours around the world in 600 cities? • Did you know we have contract with over 5K luxury hotels? • Did you know we have 250 deals added daily to our site?(2) TECHNOLOGY for effective selling • We have an award winning website loved by 100K agents • Fast with an average search time of 3 seconds • Instant bookings and Instant confirmations(3) SUPPORT on hand when you need it • Did you know about our 24/7 Global support for your travellers? • Did you know about the 2-‐hour cancellation waiver? • Issue prevention(4) EXPERTISE to drive your business • Dedicated business Development Manager • Years of industry Knowledge(5) COMPETITIVE REWARDS • Commissions discussion• Attractive commercials (collaborations, engagements) • Travel Agent discount programAcknowledge ALL KEY DRIVERS/recap the main points of the conversation (past issues, product training, concerns)Schedule a follow up call depending on the needs of the clientEscalate any issue if necessary Come up with Client Plan (follow through on first call with second call via CVP)

Use a GREAT opening sentence to brake the ice and start the

conversation Identify the areas of need (training, product, website, past issues etc.)

3 Client Value Proposition (have a cheat sheet ready)

Find a way to incorporate the CVP into the conversation

Identify which of the pillars the client could benefit from

4 Closing Summarize the information collected from the call into Salesforce

State Your Compelling Reason for your call and ask questions

2

Action

Introduce yourself, position your company, and establish rapport

Try to Schedule a future appointment Leave your contact information, Email, Telephone etc. Try to find out who are the main drivers, key contacts

•  Call Brief aligned with US Sales Senior Management

•  Call Brief will be tested and adapted as

per calls with accounts

•  Conversations driven around: ‘What are your key drivers/What is important to you and how can we service you?’

•  Conversations on any issues will be resolved incorporating the CVP 5 Pillars: Choice, Technology, Support, Expertise, Customer Rewards

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Sales-Force Call Event Process

Status: Completed

•  VAM Accounts will be pre-logged into SF in Batches in order of VAMs calling accounts:

(1) Small Independent (2) Large Independent (3) SAMs (4) Host •  VAMs will log client

conversations and feedback into SalesForce whilst on the call

•  Weekly/Monthly reports will be generated to analyze

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VAMs Process Flow

VAM Prioritizes Accounts in Batch by TTV and selects Account to Call

Research Account

-‐ Salesforce Review -‐ Data/Account Plan -‐ Top Booker Contact

Call Account

(telephony)

Travel Agent

Answers

-‐  Intro -‐  Key Drivers? -‐  Issues? -‐  Schedule

Follow-‐Up Call

Send Post-‐Call Email Log into SF

Create Account AcLon Plan addressing Key Drivers / Issues

Send Email with AcLon Plan Steps

(Offers/PromoLons) & Call Account to

Discuss

Log into SF

Send Pre-‐Call Intro Email

-‐  Leave V-‐message

-‐  Send Post-‐call email requesLng Lme

Call Account next day or within the week

No Answer

Log into SF

1. 2. 3. 4. 5. 6. 7.

8.

10.

9.

4.

5.

6.

7.

5.

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VAMs Batches by Accounts

VAMs Are Calling Accounts In Order of Batches, Batch 1 & 2 = Training/Test Phase

Batch No. Priority Type of

Account

Total Number of Accounts

2015 TTV % Of Total Completed VAM1

VAM1 % Completed

VAM2 VAM2 %

Completed Time Spent

Batch 1 Low Small Independent 1,244 $1.8M 23% 628 Top 9.5% 616 Top 13.5% 3 Weeks

Spent

Batch 2 Med Medium Independent 474 $3.8M 0% 224 0% 250 0% -‐

Batch 3 Med – High Large

Independent, Small SAM

120 $0.25M 0% 72 0% 48 0% -‐

Batch 4 High Large

Independent, Medium SAM

45 $0.4M 0% 18 0% 27 0% -‐

Batch 5 Very High

Large Independent, Large SAM, Large HOST

15 $5.4M 0% 6 0% 8 0% -‐

TOTALS 1,898 $11.65M MAIN OPPORTUNITY

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Dashboard, Salesforce Analytics Tracker

New Dashboard Created for Tracking Events Made per Day/Week by VAM1, VAM2

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Analysis, Salesforce Analytics Tracker

Dashboard Analysis: 2 Business Week Period of Mon 10/10/2016 – Fri 21/10/2016

VAM1 No. of Events for Batch1 Accountsà •  17 Events logged per the week of Mon 10/10/16 – Fri 14/10/16 (Average Events per day = 3.4 Events per

day) •  37 Events logged per the week of Mon 17/10/16 – Fri 21/10/16 (Average Events per day = 7.4 Events per

day) •  54 Events logged per the 2 weeks (10 days) •  Average of 5.4 Events per day •  19% Batch1 Completed (small independent accounts – testing/training period) VAM2 No. of Events for Batch1 Accountsà •  32 Events logged per the week of Mon 10/10/16 – Fri 14/10/16 (Average Events per day = 6.4 Events per

day) •  52 Events logged per the week of Mon 17/10/16 – Fri 21/10/16 (Average Events per day = 10.4 Events per

day) •  84 Total Events logged per the 2 weeks (10 days) •  Average of 8.4 Events per day •  27% of Batch1 Completed (small independent accounts – testing/training period) Combined Average Events logged for 2 VAMs over 2 week period: 13.8 Events per day

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Events Tracking

Events Analysis: 2 Business Week Period of Mon 10/10/2016 – Fri 21/10/2016

Event Activities VAM1 Camila % of Total Events VAM2 Alex % of Total

Events

Total Events 54 100% 84 100%

First Call Spoke to Agent 5 9% 22 26%

Good Call? (received Key Drivers / Issues) 1 2% 22 26%

Call No Answer 33 61% 57 68% Left Voice Message 11 20% 7 8%

Email Sent 20 37% 32 38% Return Call Received from Agent 1 2% 2 2%

Follow-up Call Made & Spoke to Agent 0 0% 2 2%

Highlights •  VAM2 completed 1.5X the number of Events as VAM1 à VAMs need to make more calls and log more Events •  Each time VAM2 got the TA on the phone, he was able to get good feedback: Key Drivers & Issues (26% each) •  >60% of the time, VAMs were unable to get TAs on the phone (Average 36% success rate of getting TA on phone) •  38% of the time, VAMs sent Emails to Accounts (after call)

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Key Drivers & Issues Breakdown

Batch1 Small Independent Accounts : 2 Business Week Period of Mon 10/10/2016 – Fri 21/10/2016

38%

31%

15%

15%

Key Drivers for Accounts (% Share)

Agent IncenFves

Commission

MarkeFng Support

27%

33% 0%

20%

20%

Issues with TravelBound (% Share)

Choice

ExperFse

Technology

Support

CompeFFve Rewards

Small Independent Accounts •  Agent Incentives is the #1 Driver for Accounts (38%) •  Commission is the #2 Driver for Accounts (31%)

Small Independent Accounts •  Expertise is the #1 Issue for Accounts (33%) •  Choice is the #2 Issue for Accounts (27%)

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Events Key Drivers/Issues Commentary

Example of VAM Account Commentary Logged into Salesforce

Type Subject Account Name Start End

Last Modified

By Comments

Sales Phone

Call

Intro Call (1A - Non HOST/SAM - small)

MUSIKER TRAVEL

10/31/2016 4:00 PM

10/31/2016 4:20 PM

Alejandro Dejesus

Excellent call with Arthur Giordano, top booker at the agency. He advised he has always wondered why no one from TB contacted him in the past few years but he is happy to have someone now. The agency production increased from $100+ to $6000+ YOY. The agency main destination is Europe and he is already booking

hotels, transfers & sightseeing with us. Advised him of our airport lounges choices as well. He would like to be included in all campaigns, promotions and any

information he could get to help grow the business. He had an issue in the past with a hotel but the issue was sorted out in a timely manner. Overall he loves the

website, our rates, promotions. He is very happy with us. His main mono destination is Italy. Advised him of our contract with context tours and will send

out the walks of Italy tour flyer along with current 2% promo, TA discount form and my contact details. Scheduled follow up call

Sales Phone

Call


JANUS TRAVEL

INC

10/31/2016 4:50 PM

10/31/2016 5:04 PM

Alejandro Dejesus

Spoke to Mark Janus, top TB booker. The main focus of the agency is cruises, we are currently doing pre/post and transfer. Similar to other calls, agent was not aware of our view only site. Once I explained to him and how it works, he was

very impressed about it and hope this will help him keep the sightseeing additional revenue in house. He loved the concept! Advised of our shore

excursion tours starting at the ports in several European cities, again, he was not aware of this. Sent out my contact details, promos, view only site, walks of Italy

tour etc.

Sales Phone

Call


LAND O LAKES

TRAVEL, INC

10/25/2016 4:22 PM

10/25/2016 4:22 PM

Alejandro Dejesus

Spoke to Melody Davis, Agency owner. Introduced VAM role. melody advised business is currently down. They currently do not have any bookings with TB this year. Due to elections many people are not booking at all. Sent out 2% promotion

and my contact details.

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Project Next Steps

Next Steps 1.  Pre-set Account Batches & Call Event Form in SalesForce (process)

2.  Send out Intro emails to VAM accounts

3.  Start first calls to VAM accounts

4.  Test and adapt the Call Brief

5.  Execute remaining VAM Account calls

6.  Understand calling capacity for future planning

7.  Establish/test reporting techniques for VAM accounts

8.  Finalize A/B Test for Portfolios 1,2 vs. 3,4 (Proof of Concept Test)

Documents

GTA VAM Project FINAL, Val Misra