What is Travel Business?

Categories: Business

As we all know only setting up Travel Business is not required to stand out in the market. The actual game starts when you realize challenges in your industry and learn to face them. Setting up your travel business will create your existence but to create existence that will set a mark in the heart of your customers, you need to see what is coming ahead of you and need to be aware of that in advance, take a required step to stay in the market before your competitor can swipe in.

So now you must have got some idea about the main problem here- i.e. ChallengesYes, you heard it right. As you are already in the market as Travel Agency or Travel Company, Lets go through these challenges that can either make or break your Travel Business.

  1. Tough Competition: Competition is the factor that is common in every business you want to do. As Travel Industry is very popular and competitive industry, you are going to face many competitors.

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    We can consider competition here in terms of key competitors leading in the market, Tactics and Technologies they are using, Customers they are serving and services they are providing and so on.

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  2. Increasing Customer Demands: The demands of customers have changed a lot. Initially travelling was only restricted to get a good travelling experience but now it has been a lot more than that. With good travelling experience they are looking for travel companies which will not only manage their tour packages but will also take care of transportation, meal arrangements, hotel booking, quick customer service, will provide personalization and so on. Everyone wants their tour to be arranged in such a manner that it will match their personal taste. Managing every tour as per customers taste is the toughest task.
  3. Flexibility in Tour Plans: Gone are the days when tour packages used to be standard. Now it is tour operator’s job to keep all possible options handy. Hotel arrangements as per customer’s choice, providing multiple types of transport facility, time flexibility in standard schedules etc these are the basic parameters that travel companies can focus on
  4. Multiple Package Options: Customers like more options. Availability of variety of tour packages as a service is a big challenge. A travel company that offers various travel options for different age groups such as group tour, package tour, holiday packages, customized package tours, honeymoon special, corporate tours, spiritual tours, mice tours and many more is definitely attracting customers with its multiple options. If you are the one with limited options for customers, then you need to rethink about your service.
  5. Presence of Internet: It has been the most crucial factor in our day to day life. With increase in the awareness of internet, it has been the best friend of everyone. It is doing most of your task. As your customers are more likely to use it, there is a huge fall down in demand of a travel company. They are becoming techno savvy and are capable enough to plan everything as they want without feeling the need of a travel company to arrange everything for them.
  6. Lack of awareness: Many travel companies are not aware of the latest technologies that are used in the travel industries as much as customer is aware of them. Because of lack of awareness of technologies, travel companies cannot match to the taste of customers. For ex. We can think of particular software that is specially used in travel industry. If a particular travel agency uses travel software and thus manages daily activities easily and in turn impresses customers with its unique features, then that company will definitely be rewarded for it in terms of customer retention, loyalty and many more things. Every travel company needs to think one step ahead of its competitor and of course customers.
  7. Availability of Multiple Options: Availability of multiple options poses a big challenge on travel industry. In this field you are not the only one to serve the customers. There is a long line ahead of you to serve the customers with multiple unique options. Every customer can find their way with multiple possible options available in the market. If the customer is not getting anything the way he wants, then definitely the other door is open for him. So he is always left with something.
  8. Advanced Technology: As much as technology is good for use, it is the biggest obstacle. The one who is aware of it, is definitely enjoying its perks. As we already discussed, technology includes multiple software for travel agencies, chat boat, Artificial intelligence, software for managing multiple task of travel business, online ticket booking facility, a facility for customers to check their ticket status every time, easy refund, easy accessibility of updated information to customers etc.
  9. Role of Social Media: Social media is also a part of technology that every business must take advantage of. As the name itself suggest, as long as you are not on social media, nobody will recognize your business. Creating a presence of your travel business on social media is as equal as creating your presence as a whole. If your competitor is actively present on social media like Facebook, Twitter, LinkedIn, Instagram etc and creating a brand through it, then he is grabbing many of your customers, as he is promoting his business very well and making the most of it.
  10. Customer Retention: Customer loyalty poses a big challenge on travel industry. Customer retention totally depends on the type of service he gets. If customer is being showered with good quality personalized service, valuable discounts, offers then customer retention is likely to be achieved. Gaining customers trust is difficult but not impossible.
  11. Conclusion: So here is what we can conclude that these are the most common challenges that every travel agent/travel company is likely to face. Once you are aware of it, start thinking about its unique solutions. Make use of latest technologies, social media as a branding platform, always keep an eye on competitor’s footsteps, be aware of customers changing needs and that’s it, you are done.

Cite this page

What is Travel Business?. (2020, May 19). Retrieved from https://studymoose.com/what-is-travel-business-essay

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