Travamigos - Bringing innovation to group travel
Posted on Mon 09 Mar 2020, 10:33
With the recent downfall of Thomas Cook, and rise in demand of hyper-personalised experiences, the travel tour industry is going through a period of turbulence given the need for large corporates and tour guide agencies to cater to a wide variety of consumer demands. The rise of social networking through social media and digital-first customer journeys in this space has meant that manner in which travel tours take is much more unstructured and flexible to the needs of the individual consumer. As such, Travamigos, a new app-based user centric start-up, has entered the industry aiming to make travelling cheaper, safer, more social and more personalised
Dissatisfied with the rigid and regimented nature of tour guided experience in Thailand, CEO and Founder James Wormington was spotted the opportunity for improvement and innovation, and subsequently brought a disruptive solution to this industry via social-first and more personalised approach.
Initially, Travamigos intended to replicate and build upon the traditional travel agency model in order to provide personalised tours. However, through further market and product research, the team pivoted towards a mobile app based offering, with a user-centric focus. This offering gained significant traction for through the means of 10,000 downloads within 6 months.
At this point, Travamigos officially joined WMG Accelerator as a cohort business. The acceleration programme for Travamigos has been bespoke to their case, with an emphasis on optimising their business model, technological infrastructure and commercial readiness, in preparation for the release of version 2.0 of their app. This has been done through a number of workshop sprints addressing the skills gap within business model innovation, market alignment, guided product development with road-mapping and growth-hacking.
As a result, Travamigos has undergone 3 further pivots and is now pioneering a new user focused model in line with the new app offering which is prepared for launch in April 2020. Alongside this rapid development, 3 new jobs have been created within the team, with a further 2 jobs secured. This growth in resources for the start-up has led to an exponential increase in productivity. The founding father and son team of Andy and James Wormington have gone from working only 2 days a week on the start-up alongside their previous employment, to now being full time along with 3 new team members.
The innovation and growth in awareness of Travamigos has also led to significant financial milestones being achieved. Since enrolling on the WMG Accelerator programme, they have acquired £150,000 angel investment, and Scottish Enterprise Grant Award of £97,000. On top of this, they have achieved recognition from industry through the World Travel Market and Travamigos has been added to Google’s High Growth Potential list.
The next stage of the acceleration programme will enable Travamigos to implement a pre-launch plan to harness awareness in the target audience, which then feeds into a long-term growth strategy to enable them to acquire and retain users in an iterative, data-driven and cost-effective manner. Altogether, Travamigos V2.0 is ready to kick-start a new phase of rapid growth for the start-up and bring innovation and great value to the travel industry.. Through the WMG Accelerator programme, Travamigos is now ready effectively scale their business and continually innovate within the travel space.