Taking the first step and daring to create an online travel agency can become an exciting adventure. But for our journey to have a happy ending, we have to know the point from which we depart. And for that, there is no better tool than a SWOT analysis. You don’t know what that is? Please read on, because this post will be of interest to you.
What is SWOT Analysis?
SWOT analysis is a valuable tool that helps us to assess the Strengths, Weaknesses, Opportunities and Threats that our online travel agency has in the marketplace, hence its name. And if we are prepared to give it the necessary time and attention, it will be the compass that helps us to plan the strategy to follow in our business.
Weaknesses and Strengths are considered internal factors of your travel agency while Threats and Opportunities are external factors. Let’s look at each one in more detail:
Weaknesses
Some of the questions that fall under this heading include: What can I improve in my travel agency? Do I have fewer advantages than the competition? If you have just started your business or have been working on it for a while, but you think you need a boost, advertise on social networks. Create personalised ads with Facebook Ads and build a community on Twitter. Attracting more followers is one of the most economical and effective ways to start building your travel agency’s online reputation.
A lack of products is another factor to consider but with White Label Travel, this is not going to be a weakness, thanks to having the largest catalogue of products on the market with more than 500,000 hotels, 500 airlines and 80,000 destinations.
Threats
What are my competitors doing? What obstacles are there? How can I overcome them? One of the biggest threats to your online travel agency is the existence of other travel agencies that offer the same tourism products as you. To overcome this obstacle, the best option is specialisation. Opt for a product that differentiates you and your online travel agency from the competition.
Seasonality of demand is always a factor to consider when setting up an online travel agency. But this is a salvageable threat if you have a range of products to offer your potential customers all year round: Summer vacations, getaways on the major holiday weekends of the year, Easter…
Strengths
What am I good at? What do I have that my competitors don’t have? How can I exploit it?
You will have the technological support of White Label Travel At all times, with constant updates. You will have all kinds of widgets and the possibility of selling in up to 22 languages.
Opportunities
What are the trends of the digital market? What changes are being made? How can I take advantage of them? Make social networks the best ally of your travel agency. Thanks to your business being 100% online, Twitter, Facebook or Instagram will become the best showcase for your products and the possibility of attracting new customers will multiply.
Once you have finished the SWOT analysis, you will have a very visual picture of the points on which the marketing strategy of your online travel agency will be based. You have everything you need to succeed!
