"Internet Time" is No Excuse to Ignore Strategic Planning
by Cindy Green — Partner, Adventurocity Inc.

Travel is now the top e-commerce category and expenditures are expected to grow through to 2005. But how does a travel organization leverage its strengths while facing globalization, intensifying competition, and the current slowing economy?

Sound strategic planning is required to tap into new business opportunities stimulated by the Internet industry. Trite statement, but many managers believe they don't have the time, patience, or need to plan. The fact is, your business cannot thrive — or, possibly survive — without defining and regularly assessing it in respect to variable travel trends, traveler needs, key partnerships, competitive positioning, various market dynamics, and the business model.

Once online, your business becomes part of the Internet. Designed and managed well, your Web site is both a multi-channel, two-way marketing medium and a business operation, regardless of whether you're a pure play travel portal, a travel agency, or a bricks-and-mortar tourism office. It is not simply an online brochure or an integrated network of software and hardware.

The Web site enables you to reach markets both broadly and precisely. Prospective travelers, news media, employees, suppliers, and partners may be located around the world, yet can be contacted and communicated with 24/7, 365 days a year.

To tap into and fully utilize that network, you must discern at the very least:

• Who your prospective customers are and what they are specifically interested in.

• Why they would be interested in what you have to offer as opposed to your competitors.

• What are the best channels to communicate with prospective customers and partners.

• Your value proposition and how you've positioned yourself with respect to diverse competitors.

• Can you and your partners swiftly fulfill what is offered on your Web site? Otherwise, how do you know that your offer actually appeals to those prospective travelers? On what basis do you decide where and how best to locate and communicate with them?

With an online business operation, whether partly or wholly, you have more than an enhanced way of conducting business. Clearly defining and benchmarking goals and processes will enable your travel organization to grow to its full potential.

Consider:

• Does what you provide fulfill the needs and expectations of a specific market segment — online and through to taking the trip?

• Does your business model and infrastructure reflect how your travel customers and partners are best acquired and retained?

• How are your core competencies maximized to competitively position your travel business? Are you optimizing the strengths of technology for your travel business and, if so, using the appropriate tool for the intended business application and goals?

• Do your organization and business processes meet the requirements of your travel customers and partners?

Know your customers and define all aspects of your business accordingly in order for your business efforts to pull in the same direction. Strategic planning will provide you with competitive differentiation, direction with the strategic latitude to respond to change, sustainable advantage, new market opportunity positioning, and operational scalability.

So what happens if your organization hasn't clearly outlined and diligently executed the above? Formidable competitors already do or will.

Contact us with your comments on this article or find out how human-centred technology can work for you and your customers.