Who is your market?

Step one to doing business in any environment is to figure out who your market is.  When you know who you want to target, then step two is to make sure that your target market sector is large enough to sustain your business and pay for the marketing tools you’ll need to reach them.

Sounds pretty basic, huh?

In Tenerife the market can be sliced and diced in all sorts of ways, which is what makes it so interesting.  Here are some of the most obvious slices:

Tourists

The tourist market in Tenerife is the big one: tourists save up all year and splash the cash when when they come on holiday!  The marketing challenge is that they are so elusive.  Holidaymakers may only be in the resort for a week or two, which gives you a very short window of marketing opportunity… unless you use some of the tools to reach them before they get here.  How likely are they to see your advert, hear your commercial, pick up your brochure or read your article?  Their habits change when they come on holiday and reaching them is not as straightforward as you might have guessed.

Semi-residents

Semi-residents are called Swallows in Tenerife.  They are affluent Europeans who choose to spend their winter months in a milder climate.  Generally speaking, this lucrative market comprises retired and semi retired couples with high disposable incomes.

Residents

A much smaller market, residents are still a very important one for a business in a holiday resort.  Not only are residents potential consumers of your service, but they also comprise a potential army of people who are regularly in direct contact with the tourists.  Residents are not only a market, but they are also a great source of leads, enquiries and sales.

Nationalities

Both resident and tourist markets can (and generally must) be further subdivided by nationality.  They all speak different languages, and that may mean that you need to treat them as separate market groups and reach them in different ways.

Businesses

Business to business marketing in Tenerife can be highly rewarding and original ideas will find virgin territory. Even so, the market is a small one subdivided by languages and cultures, as well as industries.

And the rest

Tourists, Swallows and residents in a holiday resort like Tenerife can also be chopped up into all the usual marketing segments.  Age and affluence tend to be the ways most businesses are interested in.  But in a holiday environment, many of the tools normally available to reach these niches are just not an option.

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