Why Experiences Can Help Build Your Business

By Kim Clarke

You’ve got some great products and business is good, so why should you develop an experience?
 
From the previous blog, we learned that experiential travel is defined as “travel that engages visitors in a series of memorable travel activities, revealed over time, that are inherently personal, engages the senses and makes connections on an emotional, physical, spiritual, social or intellectual level[1].”  Experiences in my mind are things that make me stop and go, “wow this is really cool!”  Then I want to share it on social media. 
 
So why should you take time from your busy schedule to think about developing an experience?  Here are five great reasons:

1. GIVE PEOPLE A REASON TO COME BACK!

 
Once someone has been to your area or business, why should they come back?  Bucket Lists, Must Do’s, and Check Lists are all the rage these days.   And let’s face it this is a big world with lots of things to do.  Access to exotic places around the world gets easier every year. This means that we are competing on a global scale.  An insider’s look or access to an expert that they would not normally have access to are great reasons to make people come back again and again.

2. FILL TIMES WHEN YOU HAVE EXCESS CAPACITY

 
Do you have a time when you’ve got staff but not enough customers? Maybe it’s spring or midweek during the summer or yes…it could even be the dreaded November.  Think about using those gaps as ideal times to build an experience in.  These can become opportunities when you might have more time to spend with your clients and can help create a more personal connection to you and your business.  This is part of the authenticity that so many travellers are seeking out.
 

3. TURN YOUR CUSTOMERS INTO AMBASSADORS

 
When you give your customers a “WOW” moment, they become your strongest advocates and ambassadors.  Use this to your advantage!  The vast majority of people travel with their smart phone, which means they have instant access to social media. Many are more than willing to share with their network of friends and followers immediately after something great has happened.  Here is a great tip – encourage people to use a standard #hashtag and/or tag your business in their posts so you can track it.

 

4. TRULY UNIQUE EXPERIENCES CAN RESULT IN HIGHER YIELD

 
As was mentioned above, an experience is something that connects to people on a different level.  It is unique therefore cannot be replicated anywhere close by.  This is an opportunity to create value-based pricing instead of cost-based pricing.  Value-based pricing uses a combination of commodities, goods, services and experiences that result in an incomparable product.[2]  However, customers are savvy and know the difference between value for their dollars and just charging more. It is critical that they are getting something extraordinary and there must be more perceived value.  Finding the sweet spot for the price is an art and it might take some time to get it right.
   

5. CREATE SYNERGIES THROUGH PARTNERSHIPS

 
Search for opportunities to work with another stakeholder to bring your expertise together. This will allow you to create something unique that you wouldn’t be able to do individually.  It could be another private operator, a government run park or a non-traditional tourism operator like a local artist.  Find a way to make sure it’s a win-win for everyone.
 
 
RTO7 is committed to helping stakeholders create new products and experiences for visitors to increase length of stay, tourism receipts and repeat trips.  For more information on product and experience development, contact Kim Clarke, Tourism Experience Development Specialist at kclarke@rto7.ca or 519-379-2506.