Keeping up with industry trends and adapting your business accordingly is essential for staying competitive in the tourism industry. Every industry nowadays is moving and seeing change happen so quickly but there is a way to stay up tp date. Firstly here are some reasons why you need to keep up with industry trends:
- Staying relevant: By staying up-to-date with industry trends, you can ensure that your business remains relevant and appealing to customers. As customer preferences and expectations change, your business must evolve to meet those changing demands.
- Attracting new customers: Adapting your business to new trends can help you attract new customers who are interested in the latest offerings and experiences. By staying ahead of the curve, you can differentiate yourself from competitors and appeal to a wider audience.
- Retaining existing customers: Adapting to new trends can also help you retain existing customers by offering them fresh and exciting experiences. This can help keep customers engaged and interested in returning to your business.
- Maximizing revenue: Adapting to industry trends can help you identify new revenue streams and opportunities to increase profitability. For example, if there is a growing trend towards eco-tourism, you could develop new products or services that align with that trend to attract new customers and increase revenue.
- Improving efficiency: Keeping up with industry trends can also help you identify new technologies, tools, or processes that can improve your business operations and efficiency.
To stay up-to-date with industry trends, you can attend industry conferences, read industry publications, and follow industry thought leaders on social media. Additionally, it’s important to regularly review customer feedback and evaluate your business performance to identify areas where you can improve and adapt to new trends. By keeping a pulse on the industry and continuously adapting your business, you can stay competitive and relevant in a constantly evolving market.
The consequences of not staying up to date in Tourism
- Decreased competitiveness: Failure to keep up with industry trends and adapt accordingly can lead to a decrease in the competitiveness of a tourism business. This can result in a loss of customers to more innovative and up-to-date competitors, ultimately impacting revenue and profitability.
- Negative customer experience: Failing to meet customer expectations, which may be influenced by current industry trends, can lead to a negative customer experience. This can result in negative online reviews and damage to the reputation of a business, which can be difficult to recover from.
- Missed opportunities: Not staying up to date in the tourism industry can also mean missing out on new opportunities for growth and revenue. For example, failing to adopt new technology or embrace sustainable practices may mean missing out on potential customers or partnerships that prioritize these values.
How to stay ahead of trends in Tourism
- Google Trends is a good site to review on a regular basis and search for tourism trends to see what could be becoming a new trend in the future.
- Tiktok and instagram reels are also great places to see new trends unfolding in places your customers are spending their time.
- I find attending industry events that Donegal Tourism, Failte Ireland and Visit Derry organise is a great way to stay in touch with trends and also networking with people from the industry. Sign up to their newsletters and stay connected.
- Set up google alerts on your gmail account to keep aware of new places you are being mentioned online and for any topics you want to keep up to date on such as eco friendly tourism.
- You need to keep in mind at all times how you can connect a trend to your business as it increases the chances of a trend being related to your product, you make this happen for you. Many businesses assume someone else makes a connection and so the company benefits but many times it is the company itself making the connection and creating content around this.
- When consuming social media in our down time it is a good idea to follow competitors, large and small and so your feed becomes a learning platform for you as you consume. Listen for trending sounds or repeated videos to see trends emerge online and see if you can recreate it within your business. It takes some time and effort but it teaches you a lot about generating new awareness for your business.
Certain industry events only take place one per year as these events are huge and take a lot of organising. For example Meitheal takes place in march and ITOA before the season begins we all get caught up in running our businesses.
You can sign up to such events here:
- Meitheal – https://www.failteireland.ie/Commercial-development/trade-fam-sales-platforms/Meitheal.aspx
- ITOA – https://itoa-ireland.com/
It is up to every business to stay in touch with these organisations and be aware of whats happening in your own industry. They put the events on and promote them in their channels so sign up to newsletters so you are notified straight away.