Some people call it the target audience. Others refer to it as a segment or market niche. Call it what you want because what matters is knowing who your customers are and the best way to meet their needs.
First of all, ask yourself how to choose the market niche of your online travel agency correctly without too much stress.
And, although everyone indeed likes to travel, we do not have to reach the mistaken conclusion that anyone who is browsing the internet can visit our site and book a flight, a hotel or an organised trip.
Remember that every person is unique and every tourist even more so. Not all customers have the same needs when travelling. And, likely, our online travel agency does not offer all the products and services that exist. Therefore, it is important to learn to separate the wheat from the chaff and to define the best niche market for your online travel agency. So you can specialise, highlight your strengths and differentiate yourself from your competition.
How to choose the market niche of your online travel agency, in 4 steps
1- What is our product
What is the star product of your travel agency? What need does your business satisfy that the competition does not offer?
The easiest way to differentiate yourself from other travel agencies is to specialise. Find what makes you unique and different. You need to find that “certain something” that defines your activity and helps you position yourself for your target audience. Knowing where to aim, your audience will find you and take you as a reference for future purchases. You can specialise in travel in Africa, adventure getaways or all-inclusive packages in the Caribbean. They are very specific market niches but with great sales potential.
2- Who are we talking to?
At first, you will think that if you narrow your target audience your sales will decrease. But just the opposite will happen. And furthermore, you will have more possibilities for loyalty from your clientele.
There are as many types of travellers as there are people, so you have to be clear about what type of tourist you are going to bet on. For family sun and beach tourism? For honeymoons? Maybe travel for singles? Think about what niche market you can create more affinity with. Or what product you know best to become a true prescriber of it. And when you’ve decided, focus on developing a clear marketing strategy and attainable goals.
3- Do a feasibility study
This is a fundamental step that every business must do before starting its journey. It doesn’t matter whether it’s a technology consultancy, a bow tie shop or a graphic design studio. Before launching into a niche market, think about whether the demand will cover your offer so that your online travel agency is profitable. And, if you do not find competitors, it may be because the target audience you want to focus on does not offer many possibilities for commercial success. Antarctica may be one of the most exclusive destinations in the world, but how many people book this type of trip?
4- Investigate the competition
Research and analyse your competition. Study your clients by identifying their age, sex, socioeconomic status and profession. This way you will have more possibilities to build in added value to your online travel agency. You will also differentiate yourself and meet the needs that the rest of the companies in your sector do not cover. Because there are many honeymoon trips, but trips with a butler available 24 hours a day, there are not so many.
Do you have a clearer idea of how to choose the market niche of your online travel agency?