PHUKET: We are coming into the high season and the tourists will be coming, so no matter what their numbers, this is the time to take advantage.
There are a couple of things that we can do as business owners to protect our profits and position ourselves for the coming year.
The first is to try to avoid the price wars that invariably start. You are much better off trying to differentiate on service or quality to maintain your pricing.
Even if this means fewer customers, it will probably maintain the same profits, meaning less stress on your resources for the same rewards.
Secondly, given the high level of potential customers around, make sure you have a system in place to collect details to build your customer database.
Also, if you can capture referrals from happy customers, they can help feed you for the quieter months to come.
Simon Wetherell is a social media expert and lawyer. He trains businesses and individuals on how to profit from the social media industry. For more information, visit PhuketOnlineMarketingSchool.com or call 095-085 3355.
— Simon Wetherell