Today I want to share a reflection on the new business to be implanted in the hospitality industry and I hope that it will help new entrepreneurs.
In recent months I receive daily emails from all parts of the world where readers ask me my opinion about a new business that are riding, a new idea related to hospitality and tourism and many also about new technological applications and social networks related to the sector. I have to confess that I love getting these emails and I try to answer them all as soon as possible.
Although it is clear that the moment we are in the restaurant industry, especially in Spain, it's complicated, with a very alarming decline in domestic consumption and a trend axfisiante “cheaper” o low cost, the fact remains that one of the sectors where there is more real entrepreneurship in hospitality. We can see how in all cities have closed restaurants, but they are also opening new, which it does not happen in other sectors.
Luckily many of them are working and realizing that go to the market to compete exclusively on price is a losing battle because it is a very vulnerable market where there are rarely any winners.
We're all psyched on the need to adjust our costs of all kinds, the personal, stocks, lease, supply, etc., that today no longer have any value, because we've all had to do for “inertia”, It has not need anyone to tell us, It is therefore a necessary measure, but not definitive.
My recommendation to many of these emails is based on a concept that I believe deeply, and each time more, differentiating, understood as a strategy for your customers perceive your business as a sole, authentic and different, getting an emotional loyalty that goes far beyond being a good customer to make it your best customer, your best seller and your best defense.
The customer today is a lot of offers but nothing different, at the end the decision is based on the price, if you manage to differentiate your market will get to sell at a better price than others even in the worst moments. We must not forget that “value” is not only a consequence of this differentiation.
The key differentiation in the restaurant industry is not to be the best around, but to be different and that the customer perceives it as a competitive advantage that directly influence your decision.
Differentiation in a hospitality project can contain global or individual aspects, as the product, the brand, the price, added service, The localization, market knowledge, the innovation, the quality, customer service, etc., It is therefore very important to analyze and learn from the start differentiating your variables and empower the most.
Finally I would like to emphasize that one of the factors most strongly is influencing this differentiation in recent times are the strategies in social networks that are already implementing some restaurants through SMR (Social Media restauranting) and they are making users perceive it as a differentiating value and choose your final decision.