The travel and tourism industry is one of the most affected industries by the Coronavirus pandemic. Many countries worldwide have shut their gates to international tourists. This has left the sector with little to none profitability since the beginning of this year. All may seem lost as the coronavirus' gray cloud looms in the sky, with numbers going lower and lower every day. If you've got a travel and tourism industry business, you're probably thinking of shutting it down. There's no need to do so just yet.
With proper planning and the utmost care, you can still ensure your business is booming during these trying times and even after them. The following are some steps you can take to keep your business afloat:
Partner With Other SMEs
Uniting with other Small and Medium Enterprises is a sure way to ensure that your clients get an unforgettable experience. They could be regional or local tour operators in other parts of your stopping place, accommodation suppliers, or any other people with something fascinating to bring to the table.
If you're more inclined towards local tourism attractions, do some research on places offering superb scenery and features at reasonable prices. Then, strike a deal with them. With the ongoing lockdown in many parts of the world, a local snug spot that is bursting with nature's marvels is the best you can get.
Invest in the Right Place
Now is not the time to splurge money. On the contrary, every dollar you spend should go towards enhancing your business. As such, look for ways you can add value to your establishment. If you do not have a website, work towards creating one.
In case you have one already, when last did you upgrade it? Is it appealing and visible to a wide audience, even internationally? If not, strive to add some magic to it. Add some new photos, change the look if necessary, and market it online. Word of mouth works too.
Whatever you do, avoid making your business known through newspapers, radio, etc. Now would be a great time also to slash the number of employees you have to a number that you can pay without bruising your already fragile budget.
Hire a Professional
There is a silver lining for your business despite the ongoing chaos. A drop in the number of coronavirus cases in some countries has led to the lifting of lockdown. Travelers and tourists are now seeking places to visit.
With a valid website as well as assistance from a legitimate marketing agency, you can get all the clients you need. The marketing agency will do the necessary research, find potential clients, and direct them to your website.
A great reason to have an agency on board is they know when to strike. They use a lot of their effort and time coming up with a solid strategy and implement it in the marketing sector of your business. A factor that they use to create a strategy is an extensive research program.
During this program, they cover all areas of the market and concealed opportunities. From interested tourists to a young couple seeking an ideal place to spend their honeymoon, you can rest assured that your message will reach the right audience.
Go With the Flow in Terms of Clientele
The key to keeping your business running is staying optimistic no matter what. Sure, national, international, and business travel may be impossible at the moment, but have you thought of looking for customers a little bit closer to home?
Think of essential workers. Adjust your offers to cater to this special group of people. You could, for instance, see to it that your establishment observes the strictest hygiene measures. As you welcome and entertain them, remember to make it clear that their health is your priority through in-room marketing materials, social media, and e-mailers.
Setting up a strong and secure internet connection is another way to win more clients. Feel free to select your clients depending on the type of services you offer. The more visible you are online, the more potential clients you are likely to attract.
Limit the Suppliers you use
A top survival technique is keeping your expenditure low. Reduce the number of suppliers you have to only those that you really need. This might seem difficult since every team player has a significant role in the success of your business.
One way to go about the elimination process is listing down all the available suppliers and canceling off one after the other depending on their level of contribution. You can also use the amount of money you use on each supplier into consideration.
Go for a supplier that you can easily bargain trading and payment terms in the future with. Also, instead of focusing on suppliers alone, expand your scope to developing an unbreakable relationship for the days ahead.
Anything is Possible
No business is without its challenges. For yours, it is the COVID-19 scourge. Thankfully, you can emerge victorious in the end. You only have to focus on your mindset. View the current situation as a milestone that you must overcome or a hurdle that you must jump over.
If you've managed to run your establishment successfully for the time it has been functional, it means you have what it takes to keep it alive even now. Believe in your capabilities, and don't be afraid to do things differently from what you're used to.
After all, nothing good comes easy. Additionally, when the pandemic is over, you will look back at how far your business has come. Now is the time to shine brighter than ever, and your business definitely has what it takes. Don't let the opportunity pass you!