In this section
Creating the right business model will give you a clear roadmap to guide your business journey. Addressing these three main points is the first step in creating a viable tour operator business model:
This part is extremely important in several ways. Think about what your company will look like a few years from now. How many customers will book your tour per week? How many activities can you handle per week?
Answer questions of that nature and you’ll be able to come up with at least 10 objectives and steps that you need to take to get there.
Some examples of goals and steps you may come up with:
Your business's value proposition is arguably the most important element of your overall marketing message and will assist you with your overall marketing plan. It is the part where you define how you’re creating value for your prospective customers.
To be a bit more technical: Your value proposition is a clear and concise articulation of why customers should choose your tours or activities over your competitors.
What goes into creating a clear and concise value proposition?
The aim of writing down your value proposition is that it makes it easier for customers and potential investors to evaluate your offering — from a market and financial perspective. In fact, every single item on your business model or plan has to relate back to your value proposition.
Your business's value proposition is arguably the most important element of your overall marketing message. It is the part where you define how you’re creating value for your prospective customers.
What do we mean by that? Simply put, your key resources are the main resources your company uses to create your USP and to provide your tour or activity offerings. They are the most important things to have for your tour operator business model to work.
Think about a few things:
The key resources section plays a vital role in bringing your vision and value proposition to life. It highlights what you need in order to deliver the value your customers expect from you.
You’re really excited to get your new business model up and running— we get it. But remember that a successful tour operator business needs to make economic sense.
So, you need to ask yourself some financial questions, which include:
Those questions are vital to accurately gauging your ability to develop a successful tour operator business model.
Perhaps the most critical component of any sustainable tour operator business model? A positive cash-flow.
You need to figure out your revenue streams from the get-go. To help you fine-tune them, here are some questions you should ask yourself:
Customer relationships refer to the way you interact with new and existing customer segments. Once you know their communication and purchasing preferences, you can adequately build a system to attract customers, get repeat business and more referrals.
Here are some key questions to think about when mapping out your customer relationships:
Those two questions will further inform your USP, finances, and other strategies.
You need a marketing strategy that is solely designed for your target market and customers. There are so many niches in the tour operator industry which also means that there are so many different marketing plans that are particularly favorable to specific niches.
You need to create a marketing plan that is tailored to your niche.
So, ponder the following:
You can then do your research to create an effective marketing strategy that your customer segments will buy into.
Let’s give you potential strategies you can incorporate into your overall marketing strategy: