The 4 P’s Of Marketing For The Travel And Tourism Industry
The travel and tourism industry is highly competitive. Differentiating yourself is key to rising above the marketing clutter and noise. Often times keeping things simple is the best way to gain focus and clarity about your marketing strategy. The 4 P’s of marketing in the travel and tourism industry is good start.
These four factors are part of a tried-and-trusted method for addressing your branding, promotions, social media, and digital marketing. To find out what they are and why you need them, read our short guide below.
The 4 P’s Of Marketing In The Travel & Tourism Industry
Product, Price, Place, and Promotion are the four key points in any tourism business’ marketing strategy.
Unlike other businesses, where the product is a material item or tangible thing, the products in a travel company are not. But the basic aim is the same: Providing a product that people want. In other words, is there a market for the product that you are offering?
The tourism industry is extremely competitive. You need to set yourself apart from the rest while providing a relevant product. Examples are women’s solo travel or LGBT tours. It helps to target specific categories and niche markets, although this also narrows your target market considerably.
In smaller and localized businesses, this requires careful and in-depth research of the needs of the community where you are based. Is the community that you are aiming this product at able to afford it? Have they expressed a desire for such a travel service or tour?
If you are a larger business with a national or even international customer base, the same principles apply. Are there travel trends that other travel companies or tour organizers are not effectively tapping into?
The more unique your product, the more careful you must be to establish its relevance.
Where do customers go to interact with your brand and order your services or purchase tour packages? For many of you, this may be a combination of physical offices and an online presence.
Whether you have a physical office or not, you more than likely have a website, and possibly one or more social media platforms. Social media marketing is one of the most effective forms of digital marketing.
More and more businesses in the tourism industry are realizing the benefits of social media marketing. But the most important thing to remember is to be consistent. Update your social media pages and web content regularly, with engaging and relevant posts.
Keep your target market in mind when choosing a platform. They appeal to different audiences and choosing the wrong one could be a costly mistake.
Price is a major factor in your marketing success and the success of your business as a whole. Competitive pricing is essential if you want to attract new customers.
So do the groundwork and discover what other tour companies are charging. Read their customer reviews and find out what people think of their pricing. This can give you an indication of what customers would be happy to pay.
But don’t fall into the trap of undercutting your competitors by too much. This may seem like a good idea, but many consumers are wary of what seems like “too good a deal”. Too low a price can actually make new customers reluctant to try your product/service.
Aim for the same price range or just slightly lower than your rivals charge for similar tours and travel packages. A special price for first-time customers or a discount for groups of a certain size may be better ways to have the edge.
The final P of our 4 P’s is promotion, and it ties in with the other three. You can have the right product, the best price, and the relevant place to market your offerings yet l not make a big impression. Want to know why? It’s because, in such a highly competitive market, you need to go one step beyond.
The best way to do that is through promotion.
Promotions entail more than just advertising a great deal. It’s about getting your brand out there and attracting new customers.
Introductory offers and limited-time-only value-added tours will all attract new users to your platform and create interest in your brand. Partnering with social influencers can also make a big impact on a younger audience.
With an effective multi-pronged marketing campaign that includes digital marketing, social media, and mainstream traditional media, you can’t go wrong.
Emphasize what is unique about your company. A catchphrase that resonates with the travelers’ goals will add extra punch.
With these 4 P’s of marketing, you can make a success of any marketing campaign for your travel company or tour business. They will help you to put your customer first while increasing brand recognition and industry relevance.