We love to travel. Who doesn’t? Being fortunate enough to work with multiple travel and tourism companies has given us access to insights on the industry (and to really awesome places in the world!).
Our experience spans consulting and helping build the business from the ground up to companies on the higher end of the travel industry targeting wealthy clients on boutique tours and missions, through small hotels, B&B and holiday apartments, all the way to digital and mobile app solutions for the travel industry.
The main challenges we found this industry faces are:
- Business development – like we said in the beginning, who doesn’t like to travel? But targeting the “whole world” is too much and too expensive for any business, which is starting out. So how do you define your first location, audience and offering?
- Business model -as strange as it may sound, there are more options than one even for a B&B. How do you establish differential pricing for seasons, events and guests? How do you determine packages? When is the right time to give discounts and how?
- Marketing – unless it’s a large hotel chain with lots and lots of funds at their disposal, or an established brand, the travel industry sees many smaller, yet highly attractive business that go down simply because they lack the resources (finances, time and know-how) to market. How do you build a marketing strategy that works? How do you select which platforms to use?
- Reputation and Crisis Management – this is something that can happen to any business but in the travel industry, especially today, tourists will choose where to go and stay by reading online reviews and they will leave a review after they’re gone. Little misunderstandings and even honest mistakes (we’ve had cases where a client was reviewed by a guest staying at another property with a similar name… not our client’s) can spiral to a full blown reputation crisis. The multitude of digital tools that are used to market and sell often lead to over and double bookings… how do you follow up? Hint: this is where active community development and management comes into play.