Survival & Planning for the industry’s recovery

These days, ITB Asia reached out with survival and recovery ideas for MICE & Tourism businesses but even for any other affected companies, which we thought should get a bit more attention. Firstly it’s about how to survive in this difficult times, where most business strategies get obsolete as economy decreases and travel bans are hitting our industry. Secondly it is giving us suggestions for a fast recovery as soon as the day to day life is getting back. Also taking the long term influence of this global Corona-crisis in to consideration.

Starting in to the topic, it is suggested to avoid large scale discounting. If you discount your services, the expectations of your product will be decreasing and so does your business after recovery. Even if it is hard to keep daily working life going, it is really important to keep marketing and also sales in mind. You can stand out with your business by developing new and innovative ways of marketing, which do not have to be expensive. 
Further more, it is really important to maintain your relationships with the customers, clients, partners and investors. These relationships are getting more important in the recovery stage of the global economy. 
As now the normal revenue channels are nosediving, try to develop new ways to keep your company alive. Same topic referring for marketing as well as creating new revenue channels, we can use our creativity to make a headway for the industry. 

Continuing with the recovery stage, the importance of existing customers is pointed out. By starting now to maintain the existing relationships, it brings back business as soon as possible. But as already mentioned, some things will change in a longterm view – the travel behaviour or the consciousness about sustainability could be only a few topics. In that respect we’ll have to analyse and forecast new trends in markets and the customer behaviours. Additionally, it is recommended to use the forecasts of new trends to build a wider customer pool. This is giving safety in times of crisis and long-term success.

„Web-based business knows no international boundaries and suffers no travel bans“ – This is a quote of one header. We guess that this simple quote is putting the whole topic in a nutshell. We are now forced to admit digitalisation and all of it’s possibilities. But let us take it as a chance for a great development, where we can profit from in the future. Let us seize opportunities in adversity.


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