Creating a Niche for your Travel Organisation
Creating a niche means crafting products specially created for a very specific group of travelers versus a general offer everyone might like.
Its wise to create a niche because travelers have different passions and different interests. And for all those different interests their is a vast amount of information on the internet highly targeted and especially crafted to the needs of these people.
Because there is so much travel content online, it's incredibly difficult to sell travel products on the internet that are not targeted towards a niche, very few player are able to do this.
Since there are so many pieces of information coming at us at a daily basis, we have to filter most of it as non relevant, those pieces that we let go through our filter are those pieces of information that confirms who you, and maybe confirm to what kind of tribe you want to be part of, or even better can improve your status within that tribe.
To cut through the clutter, and to be appealing to a sub sub group, you have to focus on a niche.
Another reason to go for a niche are the costs to acquire a customer through online marketing, they are significantly lower for very targeted niches. Making it easier to run profitable marketing campaigns.
Creating a niche when you already have a business
To define a niche, when you already have a business you can look at products / services have a high margin. If you analyse you might see the 80 / 20 rule, 20% of products contribute to 80 % of revenue.
Can you become a specialist around those products ? Focus your attention to go the extra mile for clients of those products, how can you create more value for them, up sell other products, make spin offs of these products ?
- How do you deliver the best possible: preferable customized customer experiences for it.
- What do you like most about this product, can you build on to that
- What do customers like most about this product, can you extend on that
It's always easier to focus on the things that go good and make them even better then putting lot of energy in improving things that don't go very well.
On a lot of travel website i work with there are products they haven't sold in a whole year, which might work well if you sell things that never change, but destinations and experiences change all the time, it hard work to keep them update and relevant.
To benefit from a so called long tail of products ain't easy in the travel industry without hurting your image of a professional and relevant travel company.
So if products don't contribute to your profit, nor your image through them out. It will only eat energy, because you didn't give enough attention to it. If you get leads other companies, can probably make a better offer, making your scoring change on these quotations low. Eating only unnecessary resources of your company.
If your a new company, you can start from scratch, look at we you are good in, have passion for, can you create value with that for travelers ?