January 12, 2010
2010 A Big Year for Small Business Online
Maturing and Mainstreaming of online technology means big profits for savvy small businesses, especially those in travel and tourism.
A lot of business owners think of search engines as a black art and look at social media with a sceptical eye. But now that Facebook has become the world’s third largest country (virtually) and Google has exploded into a gigantic economic force, the online world has become difficult to ignore. Small businesses, especially those in travel and tourism, who are embracing online technology are finding real success, and the online market is poised for big growth in 2010. Tools like search engines and social media have matured, and many of the most popular sites like Google or Facebook are now in the hands of the average consumer, giving small businesses a very powerful yet inexpensive marketing tool.
Despite deeper pockets, large companies are finding it difficult to manoeuvre into the online space. But it isn’t about having a big budget – unlike traditional television or mass advertising , the size of the Internet makes it impossible to dominate. An ideal approach, instead, is to find a niche where you can offer authentic products and services with full transparency. This is something small businesses know and execute very well.
“The problem is that many big tourism brands got away with lousy service and mediocre products for a long time because consumers didn’t know about their other options. The world of blogs, search engines, and social networks has changed all that – handing consumers a lot of power and giving smaller businesses a seat at the table,” says Andy Hayes, Managing Director of Travel Online Partners (TOP), a firm offering online technology consulting to small businesses. He adds, “the rate of change in the global marketplace is truly unprecedented. For travel businesses that are quick to orientate themselves and take advantage of these new opportunities, the possibilities are almost endless.”
Arjun Basu, Editorial Director of Spafax, says “Travel is all about creating links – both real and virtual. So it’s no surprise that social media and travel go so well together. From staying connected to making connections, travel will never be the same.”
It’s not all roses, though. The ability to monitor and track return on investment is still fairly difficult to measure, and with all of the social networking options, it can take a lot of time, a resource that is usually in short supply in smaller firms. Tom Mulhall, the owner of a small tourist resort featured in one of the Travel Online Partner’s technology guides, sums up the situation perfectly: “In my business, social media is fantastic…. We are very busy and yes it does take time to market that way. However, if I didn’t do social media marketing, then I would have lots of time to sit around wondering why I wasn’t busier.”
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