July 11, 2014 — There are all sorts of niche markets with varying demographics relative to vacationers’ interests including, not limited to: Agritourism – Culinary tourism – Cultural tourism – Extreme tourism – Ecotourism – Geotourism – Medical tourism – Nautical tourism – Pop-culture tourism – Religious tourism – Wellness tourism – Wildlife tourism and so forth. And what does that have to do with the Land of Time?
So Here’s The Scoop: While studying some data about where vacationers like to travel and their motivations for going to one destination over others, etc. I came across a plethora of ‘tourism’ styles, tastes, experiences and themes. Some of those vacationers are spending some serious money on Holidays, and many of those groups offer TS developers some incredible marketing/selling opportunities — that is, if developers are willing to be objective Vs subjective.
For example, one of the niche markets I came across appears to be rolling in the dough from their incomes, investments, etc. and love to travel, do so all the time and just in the USA they collectively seem to spend about $65 to $70 Billion each year doing just that.
And they travel with their families, friends, business associates and go on cruises too! Oh, and they have some very high-trafficked online vacation/travel websites dedicated exclusively to their travel and vacation interests as well.
In fact this particular group of travelers has their own Travel Association equal to or greater in numbers than our own beloved ARDA, with their association coming in with at least 1,000 dues-paying members consisting of merchant/vendors such as travel agents, tour operators, hotels, etc.
So well-traveled is this group, even the full service very popular online giant travel agency Expedia has a special section on their website dedicated exclusively to these ‘globe-trotters’ — and that speaks volumes about the notion of niche marketing!
And though Timeshare developers historically don’t incorporate traditional marketing methods (advertising) to generate consumer awareness of their resorts, destinations or vacation plans, etc. I’ve read data that seems to suggest that for those entities that do advertise to ‘this’ group; they get a return upwards of $200 on every dollar spent doing so in direct spending for accommodations, shopping, restaurants, etc.
The group of which I speak, estimated to be nearly 10,000,000 strong just in the USA, are solid, hard working taxpaying adult citizens. Many are U.S. Military Veterans, have strong credit ratings, own their own homes and/or businesses while others work in the many ‘blue-collar’ fields or the ‘white-collar’ arena for both privately & publicly held corporations of all sizes.
Without naming this specific crowd of vacation seekers the only point today is that there is no shortage of groups to market slices of paradise to, be it the one referenced herein or any of the multiple but individual Veterans groups (23 Million strong), ‘Boomers’ (75 Million strong) including AARP (37 Million strong) and the nearly endless number of other groups, organizations and associations.
At the end of the day developers need to “market”, as defined by utilizing the process of market research, analysis etc. and then introduce their ‘product/services’ to the specific demographic(s) with the greatest needs & interests including the affordability to acquire and use said products/services — you know,
This is ESPECIALLY true of those developers with the costly and least productive shotgun marketing approach by ‘hawking’ to anyone with a pulse in the 25 – 75 age brackets, often many of whom are financially challenged and with after-paycheck deductions their take home pay is as low as about $540 a week ($40-K gross annually) to care for their families. Not the ideal frequent vacationer (prospect) to be sure!
With no shortage of millions and millions of known travelers, including all the groups they belong to, developers could significantly increase their wealth by incorporating niche marketing practices into their overall business strategies.
Besides, there are other businesses that have been and continue to be very successful marketing to these groups for several generations – from tires to insurance products and everything in between; so why not slices of Paradise?
Surely developers are all in the game for the big bucks and loathe leaving money on the table’. So why be complacent with ‘X’ dollars and instead generate ‘X’ dollars more and cash in on niche marketing!
Good luck out there!
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Contributing sometimes extravagant, bombastic, emotional, pompous or even pretentious writings about the timeshare industry, Scoop covers an array of industry related subjects each week including inside information, tips, scandals, interviews, forecasts as well as new (good or bad) products and services — and, of course, all the ‘Good’, the ‘Bad’ and the ‘Ugly’.
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