Volume: 7 Issue No: 2
Dear Colleagues & Friends:
Dear Travel Colleagues & Friends:
Since my last newsletter the end of March, things have continued to change. The Industry is bracing for the effects that economic conditions, increases in food as well as gas and the housing crisis will have on the upcoming vacation season. In addition, the Conference Board, which tracks monthly consumer confidence, noted that the index is at a five-year low!
My question to each of you is, "What are you doing to create opportunities for your organization, given the change in consumers' value equation?" While initial reaction to adversity with economic indicators may be retrenchment, a proactive approach to market conditions will provide information and insights on consumer behavior. This will allow you to develop a short-term set of tactics to re-position your products, services and experiences to generate results.
In addition, the Federal Government is providing rebates to most households that will stimulate the economy. It is our duty as an Industry to help consumers spend their rebates, relax and escape the daily grind here in the U.S.
Economic conditions have changed the consumer value equation (what is most important to them), and the formula for success that suppliers and destination marketers used in 2007 needs to be different. However, not everyone in the market is being squeezed.
As suggested in March, carve out the time you need to work "ON" your business and develop solutions to implement quickly to impact the vacation season.
For destination marketing organizations and travel supplier organizations, looking to provide a solution for their partners, we have a very timely program, Driving Opportunities - Creating Results in the Local, In-State and Regional Market. A description is listed at the end of the newsletter.
Regardless of the doom and gloom, the glass is at least half full; the location of the water may have changed a bit!
The Opportunity Guy
A Marketing Lesson from Alaska
For the past several years, I have had the pleasure of traveling to Alaska in the late fall, usually when it starts to get cold & dark! It is the same time of year that Alaska residents receive their annual PFD - Permanent Fund Dividend from the state. This is a check for every state resident from the oil revenues and profits generated by the state.
Every fall, savvy business owners such as car dealers, travel agents, home improvement stores and big box retailers flood the market with special promotions. They want to help their fellow Alaskans spend their PFD checks and provide a multitude of opportunities.
For tourism suppliers throughout the U.S., the upcoming release of Federal Government rebates to consumers at the front-end of the vacation season provides a similar situation. In order to take advantage of this opportunity, each travel supplier must position their business to capitalize on the opportunity.
Given the market and consumer sentiment, the operative word to attract consumers' attention will be "ESCAPE". While the length of vacation time may vary, depending on resources, consumers want to get away. Vacation research, even in tough economic times, continues to bear this out. Americans see their vacations as a birthright and will get away no matter what.
the entire article >
The Opportunity Guy in Print:
The following are recent publications where The Opportunity Guy has been quoted or interviewed:
- Canadian Tourism Commission, Tourism Business Magazine - February 2008, two articles: A La Carte Tours, "The Emergence of Group FIT Travel" & "How Do You Sell Into the A La Carte Tour Market?"
- Group Travel Leader, March 2008, article "Do It Yourself Tourism - Experiential Travel Continues to Soar"
- The American Bus Association, Destinations Magazine, June 2008, "Getting Hands-On - Experiential Tours Offer Groups Something to Cheer About"
Counteract the current economic conditions and create results with consumers for your destination and travel suppliers. Our program Driving Opportunities - Creating Results in the Local, In-State and Regional Markets provides tangible tools and actionable ideas. The program is offered as a keynote session, seminar or in a workshop format. It will quickly provide strategies and tactics to fast track results for the 2008 vacation season.
Driving Opportunities - Creating Results in the Local, In-State and Regional Markets
Current economic conditions, changes in consumer confidence and rising gas prices have created a challenging environment. However, opportunities exist in the local, in-state and regional drive markets that will provide year-round business opportunities for your organization. This session focuses on leveraging business with the 4 Ps: Pulse, Positioning, Products and Partnerships. First, uncover the Pulse of the Industry to increase results both strategically and tactically. Then, learn to Position your products and services to meet current market conditions and consumer requests. Next, discover new Product development opportunities for packages and promotion. Finally, leverage your business through strategic Partnerships for products, promotion and new customers. You will drive immediate results year-round for your business with the 4 Ps.
For additional information and to check The Opportunity Guy's availability, call Joe Veneto at (617) 786-9096 or e-mail him at Joe@OpportunityGuy.com.
For a complete listing of presentations and seminars, go to www.opportunityguy.com/speaking.htm.
P.O. Box 69-2359
Quincy, MA 02269
Phone: 617-786-9096 Fax: 617-786-1081
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