5 Ways to Improve Revenue
Running a luxury transportation company can be expensive, and the emergence of rideshare
services has given limousine companies a set of new challenges to deal with. A recent study
indicates the biggest reason for limo companies dwindling profits is due to their hesitancy to
adopt technological solutions and utilize modern day technological integration services. If you
are a limousine business owner who wants to devise fresh plans for improvement and growth
of your business, here are some informative tips to consider.
Reconsider Traditional Booking Systems
If you are still using traditional methods to book clients, it is time to consider a change. Modern
travelers expect that the amount of money they pay for luxury transportation will include a
booking system that is as straightforward and effortless as possible. They have little patience
for submitting a generic form or calling a front desk person who has to call them back with potential options for vehicles, last minute replacements, and complex confirmation processes. Convenience is 100% the name of
the success game. To stay competitive, it is crucial to have easy, quick access to online booking
solutions that allow clients to book exactly what they want, when they want it.
Boosting Brand Connectivity
Technology has made it easy for end users to get a detailed description of the chauffeurs,
vehicles, user reviews, etc., through their smartphone prior to booking it. Since traditional limo
companies are not connected to users in this way, they fail to establish a direct connection with
the prospective customer and lose out on the opportunity to create a brand identity that
fosters loyalty in clients.
Utilizing Demographics & Analytics
Utilizing data analytics are a sure way to create new opportunities for business growth, and
modern luxury transportation companies are using data in the best possible ways to grow their
business. Moreover, analytics help companies figure out the right demographics where they
can find more customers. Limo companies operating in traditional ways find it difficult to trace
these factors that hinder their growth. Partnering with a technology based network can
help you establish a fully integrated system that will provide you with unified insight into your
Reduce Operational Costs
Leveraging technological solutions means you are cutting down operational costs, by helping
you decrease the spending that comes from when you have staff manage every aspect of
booking and delivering a ride. When implementing a technological solution, the overhead
costs wasted in time and manpower are significantly reduced. For this to be most effective consider a technology that streamlines not only the booking process, but all processes involved.
Feedbacks & Reviews
Using technology helps you derive thoughtful insights about your prospective
customers, which will open up new options to generate profit. You can collect reviews and
feedback after each ride about the vehicle, chauffeur, ride experience, comfort factor, driving
ability, amenities, etc. This enables you to understand where you are succeeding and
where you need to concentrate more to improve customer satisfaction.
A limousine is a symbol of luxury. It offers the best level of comfort while adding a touch of
elegance to the image of anyone who hires it. The clients that use luxury transportation are
people who expect the best, and this includes technology that makes the experience easy,
modern, and effortless. By providing modern access to your clients, you will ensure loyalty and
growth for years to come
Coming Back Strong After Covid
As stay-at-home and shelter in place orders begin slowly lifting throughout the country, one can almost hear the collective sigh of relief from business owners as they start to pivot from crisis mode to the calm after the storm. However, if there’s one thing the Covid-19 crisis taught us, it’s that we will all have to adjust to a “new normal” for some time to come, and this includes how we conduct and market businesses. The businesses that hop on new strategies now will have a leg up once customers start calling. Here are a few helpful tips to ensure you are prepared to come back post-Covid strong.
TIP #1: PUT SAFETY FIRST
The health and safety of your customers and employees has never been more important, and they will want to know that it is a top priority for you. When you are restarting a luxury transportation business after a massive health crisis, implementing safety measures and leveraging these in the marketplace can help to differentiate you from competitors. Consider implementing some of the following:
Do a thorough detailing of all your vehicles and implement a thorough cleaning regime after every ride. Get your camera out and take some pictures of your thorough cleaning process and put them up on your website and social media so that potential customers can feel assured you are on top of the safety situation.
Consider providing stylus pens in your vehicles for clients to use to operate touchscreens for sound systems and other technology within your vehicles.
Have disposable face masks and small bottles of hand sanitizer in your vehicles that have your logo on them. This will be a big benefit to clients who may have forgotten a mask or their personal bottle of hand sanitizer and is a great way to find a new touch point for your brand.
TIP #2: REVIEW AND REVAMP YOUR MARKETING EFFORTS
If your area is still on some form of quarantine, utilize this time to review what you already have for marketing assets and find holes where you could up your digital marketing game. Some areas to consider:
Now is a great opportunity to thoroughly review your website, identify information and photos that need to be updated, and/or fix error codes or broken links on the site. Look at competitor websites to see if there is more information, imagery or an FAQ section that should be added. Or determine if you need a new site altogether. Take this time to get your company ready for the next stage of business.
If you are not already doing so, get going with digital marketing. A short pause is understandable, but have your plan and campaign ready to go, as digital media has the advantage of being faster, less expensive, and often more effective than traditional media. Today’s luxury transportation patron is all about convenience and do not have time to make phone calls and check emails, so consider partnering with a network that can provide you access to a booking app. This shows your company is forward thinking and is committed to providing technological ease for your clients. Additionally, an email or social media campaign can connect a marketing message to your targeted audience for a fraction of the cost of a print campaign or TV ad, immediately.
Remember that luxury transportation is largely about image, so make sure you have great photos and marketing assets that show off your vehicles and service. This may be a great time to get a photo and/or video shoot completed. As business has likely slowed for photographers and videographers, you probably will get a good price, and you also will be helping them at a time when they may need the work.
TIP #3: DIFFERENTIATE YOUR SERVICES
Many business that survive the quarantine will look different once you open your doors again, and while that’s scary, it provides you with the refreshing opportunity to go blue sky with your services or products. Here’s some ideas for how to show current and potential customers you are ready to meet their unique needs:
Sending out a survey to current customers is a great way to glean some insights on what they’re looking for. Listening to their ideas and implementing some of the changes they suggest will show how committed you are to being a top-notch luxury transportation provider.
Consider enhancing your local presence. Now’s the time to come together and support your fellow local small businesses who are also learning how to relaunch a business. This is the exact type of good neighbor strategy that will encourage other businesses to help you, as well as establish yourself as a supportive member of the local business community.
Offer new services, packages and discounts. If you can show current and potential customers that you understand they too are adjusting to a new normal and need some incentive to start using your services again, it will make them much more likely to use you for their next airport travel or special event.
5 Ways to Improve Time Management
As a small business owner, you are probably intimately familiar with the feeling of always juggling tasks. Between client deadlines, payments to keep track of, and customers to please, it can feel like your to-do list never gets any smaller.
You could say that effective time management is one of the most important skills for a small business owner. If you feel like there are never enough hours in the day, these five tips can help you stay on track and manage your time smartly and effectively.
1. Plan ahead
Clutter can slow down your work and bog you down. If your workspace or workload is chaotic, you may find yourself too overwhelmed to tackle your tasks. You can get organized by starting small and working your way through. Setting goals, both small and large, is a great way to keep you and your business on track.
Begin by creating a list of five realistically attainable goals for the week. Make them detailed and thorough, then start accomplishing one a day. This helps you make measurable progress toward large initiatives.
Pay attention to when you're most productive, whether it's a specific time of day or simply after your morning jog. If you find you have a most productive hour, use that time each day to focus on the highest-priority tasks and the rest of the day on the easier, more manageable to-dos.
2. Embrace apps
If you have a smartphone, it's time to turn it into your ultimate small business tool. There are apps out there designed to help you take charge of your schedule and workflow, and accessible from smartphones, laptops and Apple Watches, so you can stay on top of your tasks no matter where you are.
When it comes to managing overall workflow, project management software or technology based networks are great resources. You can create boards for each project and set up pipelines and reports to send them through, allowing you to track tasks from beginning to completion. It's also a great tool for collaboration, as you can track your team's progress and efficiency as well.
3. Learn when to delegate
When you're just starting out, it's natural to take on anything and everything to do with your business. By now, you're accustomed to learning on the job and picking up skills you didn't even know existed, but as your time becomes more and more precious, it's important to learn to delegate. Whether this means handing off projects to your employees, giving yourself the freedom to not do it all, is essential.
First, decide what tasks you'd rather not do. This seems simple enough, but if you can pinpoint those things you procrastinate on because you simply don't like doing them, you can figure out whether someone else is better equipped to take them on. If you don't have a staff ready to pitch in, find contractors or outside resources who specialize in these skills that can work on an as-needed basis to give you your time back.
4. Keep track of your finances
Finances have the potential to be a large stressor and therefore take up an unnecessary amount of time to handle. Creating and adapting a bookkeeping system early on will help you stay organized, thus saving you time down the road.
If you don't already have one in place, there's a handful of services to help you stick to a bookkeeping system. With many functions to simplify your accounting, there are many products that will take your accounting to the next level, acting as more than just a way of tracking accounts payable.
5. Avoid distractions
If you're a solopreneur, the biggest struggle you may face is staying productive without a team to help out. As your own boss, you're going to have to work diligently to stay motivated and avoid distraction. It's important to keep your personal life separate from your business life.
That also means keeping business matters out of family time. Learning to truly segment your day will help you manage your time and make the most out of each precious hour.
If you're getting bogged down with endless tasks or find yourself feeling burnt out before the day even starts, it could be a sign that something is wrong with your current routine. There may be little you can to do make that to-do list go away, but the more efficiently you use every hour you have, the more successful you'll be at managing those hectic days.