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Far too often, we fall into the trap of looking at our competitors to see what they are doing and how they are performing, and then try to match their strengths.
We see what they do well – perhaps their beautiful websites, their strong social media presence, or their well-crafted itineraries. So you try your best to replicate what they are doing in the hope that you can match their successes.
While benchmarking against success is valuable, it's only half the story. The real gold lies in understanding what your competitors don't do well, and then stepping up to fill those gaps. That’s the secret!!
So What’s the Strategy Then?
Think about it this way: your competitors are likely already capitalizing on their strengths. Trying to beat them at their own game can be an uphill battle.
But what if you could identify the areas where they fall short, the "pain points" their clients experience, or the services they simply overlook? That's where your unique opportunity to shine truly lies.
Example.
Let's consider the example from some social media posts: Travel competitor response times.
If your competitors consistently reply to inquiries within 24 hours but never on weekends, that's a prime area for differentiation for you. Imagine the impact of offering a faster response window – perhaps within a few hours during business days, or even limited support on weekends.
In a world where immediate gratification is increasingly expected, being available when others aren't can be a game-changer.
Clients will remember the advisor who got back to them promptly on a Saturday, Sunday or public holiday when they were planning their last-minute getaway, not just the one who matched the industry standard during the week.
This principle extends far beyond just response times. Consider other potential weaknesses:
- Lack of personalization: Do your competitors offer generic packages? You could focus on highly customized itineraries that truly reflect your clients' unique desires and interests.
- Poor communication during travel: Do clients complain about being left in the dark if issues arise during their trip? You could offer proactive check-ins and a dedicated emergency line.
- Limited niche expertise: Do competitors try to be everything to everyone? You could specialize in a particular type of travel (adventure, luxury, family, specific destinations) and become the go-to expert in that field.
- Outdated technology: Are their booking systems cumbersome or their online presence unengaging? You could invest in user-friendly platforms and create a seamless digital experience.
You're building a reputation as the advisor who anticipates needs, goes the extra mile, and genuinely makes your clients' lives easier. That's the kind of service that builds loyalty, generates glowing testimonials, and ultimately helps you stand head and shoulders above the rest.
So, the next time you're evaluating your competitive landscape, shift your focus.
Instead of just admiring their strengths, put on your detective hat and look for their Achilles' heel. Then, turn those weaknesses into your winning strategy. Your travel clients, and your business will rise towards your success goals.
