Targeting a Niche Market in the Tourism Business
Targeting a niche market in the tourism business remains very crucial in your business start-up and growth. Niche targeting should be your first step to think of while starting your tourism business. The type and nature of customers to serve remain crucial to your business success.
In this video, we learn more about keeping focus on a specific niche market will help you grow your potential. Avoid getting too broad, you might lose your focus and end up appealing to nobody.
Well, let us also learn about how to define Niche Markets/Targets
*Budget – High-end/ Luxury, Mid-range, or Low budget.
*Gender – Male or Female.
*Age- Young, Middle age, or elderly.
*Geography – Specific region
Psychographics/Experiences (values and interests) – Mountain hiking, Bird watching, Honeymooners, Cycling, Bikers, religious tours, village tours, conservations, volunteering or impactful travel, etc.
Advantages of targeting a niche Market.
– Face limited or no competition.
-Takes you less marketing resources.
-Saves you precious time.
-You get a rich product knowledge about what you are selling to the market.
-More sales revenue.
-Uplifting your business brand with more expertise.
Mistakes in targeting a niche market.
-Choosing the wrong niche.
-Ignoring market research.
-Confuse the market by selling everything.
-Greed for money by selling to everyone.
-Inconsistency -Misleading social media content.
-Inflexibility and lack of inadaptability.
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