Categories
Online Business

Thriving eCommerce Trends That Will Shape the Industry in 2020 and Beyond

Ever since the expansion of eCommerce back in the 90s, it was clear to everyone that this particular form of transactions will forever change how we think about trading. Fast forward 30 years into the future and you will find a world in which 96% of US citizens have made an online purchase at least once in their life, 80% of them in the last month alone. With how things are, it would be foolish to assume that eCommerce hadn’t undergone some tectonic changes to evolve to this point.

But the world of online trading is ever-growing and ever-expanding, which means its evolution is still on. Let us take a look at some of the most important trends that will shape the industry in 2020.

Every user gets a personalized experience

If you take a look at a recent study published by Accenture Research, you will see that 43% of US consumers are more likely to opt for the companies that offer them personalized purchasing experience. These numbers are to be expected – people like to feel special. It is important to point out, however, that we are finally living in a time when this beneficial practice can be successfully emulated in the online environment. Machine learning, advanced analytics and big data are all the tools that can be employed to deliver our customers timely, relevant and personalized content.

Devices becoming dominant trading tools

When we think about online trading, we imagine a rather clunky process that requires several necessary steps that are the easiest performed in the desktop environment. Mobile devices were predominantly reserved for emergency situations. This year, when it`s safe to say that nearly half of all purchase decisions will be made on mobile, we can say the tides are slowly turning in favor of these devices. The causes of this development are numerous but we can single out the fact that most of the contemporary trading platforms are built around the needs of mobile users as the strongest contributing factor.

The expansion of online B2B market

For most of its decades-long history, eCommerce was considered to be something that unravels between businesses and customers. The examples of B2B transactions were always present but never frequent. This trend is undergoing a gradual change, and not only that – the list of products that are entering the global B2B eCommerce market is growing with each passing day. For instance, these days you can easily buy quality oilfield equipment with nothing more than a couple of clicks – a transaction that was hard to imagine just a couple of years ago.

Multi-channel trading

If we take a look at recent research conducted by Harvard Business Review, we can see that as much as 73% of participants have used multiple trading channels to perform shopping. As you can expect, this number is only expected to grow in the following year. But, what does that mean for the expanding eCommerce landscape? Well, one of the obvious developments we can expect to see is that retailers will stop putting too many resources in one trading channel or another and instead, invest their efforts in building comprehensive omnichannel trading environments.

The evolution of AI assistants and chatbots

In 2019, we’ve seen AI making a true invasion of the eCommerce industry. This year, the technology behind it is expected to become even more accessible and affordable. We can expect to see a growing number of small businesses using the services of chatbots and AI assistants. If we had to put this into numbers, we could resort to research published by Zendesk which says that 85% of customer interactions in the online environment will be performed without any participation of human agents. Of course, this is only a projection – this number can turn out to be even higher.

Fast delivery

The eCommerce industry is not an isolated world that exists entirely in the online environment. Its efficiency depends on a number of different real-life factors with delivery being probably one of the most important ones. The good news is that these ancillary services are undergoing an evolution of their own and reaping the benefits of developing technologies both in terms of effortless management and the very process of delivery (e.g. the rise of drones). With how things are, the time for local deliveries could be cut to mere hours.

The untapped potential of emerging markets

All of the things we’ve covered above only speak in favor of online commerce. With all these positive factors at its side, the eCommerce industry will become leaner, more efficient, and continue to grow. But keep in mind that in spite of working 24/7, the online market services only a fraction of the global population. Some projections say that up to 3 billion consumers will get access to the internet in emerging markets like Brazil, China and Africa by 2022. The first effect of this global expansion will be felt in 2020. 

As we can see, although it is more than firmly established, the eCommerce industry is far from stale. On the contrary, exciting new developments are occurring seemingly on a daily basis. Tracking these developments and using their benefits is the only way aspiring businesses will be able to remain competitive in the contemporary global market.

About the author: Lilly Miller is a freelance writer, who focuses on the latest business trends, commercial design, and environmental issues. She also loves to experiment on daring new home decor trends and write about it as a regular contributor on Smooth Decorator. Settled in Sydney for the time being, Lilly shares home with two loving dogs and a gecko named Rodney. You can find her hanging out on  Twitter.

Categories
Online Business

10 Ways to Increase E-commerce Conversions for Your Tech Start-Up

Maximizing your online conversions is a must for any e-commerce tech start-up. It’s like attracting foot traffic in a brick and mortar store. With over 90% of the world’s shoppers turning to the Internet, e-commerce stores are the wave of the future. Not knowing how to maximize your conversions could end your business before you ever get it off the ground. 

Unfortunately, you have a million tasks on your mind from staffing and payroll to advertising and financing. Sometimes, conversions fall to the wayside. Don’t let them! 

Here we’ll cover a few ways to quickly and easily improve your e-commerce conversions without sacrificing your start-up success.

  1. A Fast Paced World Wants Fast Results

We live in a fast-paced world of instant gratification. Visitors don’t want to wait for your website page load. In fact, they won’t wait. If your website takes longer than three seconds to load, chances are, you’ll lose them to a competitor.

Don’t get discouraged, though. There are a few simple ways to increase your page speed.

  • Move servers to countries with the majority of your customer base
  • Run page diagnostics 
  • Improve caching techniques
  • Remove oversized images 
  1. Get Rid of Those Pop-Ups

There’s nothing more annoying than a pop-up that blocks your view of the page content. Most visitors close them without another thought. Or worse, leave your site because they get frustrated. 

Advertisements and banners can also hurt your conversion rates. 

While you need to advertise your company, you don’t want to annoy visitors. You need to promote a positive customer experience. Visiting your website should be an easy, positive experience. Happy customers are more likely to convert.

If you can, remove unnecessary pop-ups and reduce the number of ads cluttering your page.

  1. Give Customers Options to Pay

If your customers want to give you money, take it! And give them plenty of ways to do it. Many e-commerce start-ups offer a variety of payment methods including PayPal and Google Pay. These portals make it convenient for customers to make purchases without using their bank information or credit card.

Your tech start-up website needs to accomodate all types of these audiences. Multiple payment portals help attract a wide range of visitors, encouraging them to convert. Offering payment portals does require more integration, but it’s well worth the investment.

  1. Provide Valuable Information

Converting more sales on your e-commerce site isn’t just about the all mighty dollar. Providing visitors with valuable information in easy to find places is another way to earn credibility and will eventually result in increased sales. 

A convenient way to do this is by creating a FAQ page. Here, customers will find answers about your products and services.

This helps boost the customer’s confidence in you and your products. Add a search feature to help visitors find answers and information more easily. 

A live chat or a chatbot is another popular choice and an excellent way to help customers in real-time. While this feature is expensive, it’s one of the best customer support techniques available.

This is especially true in the fast-paced world we live in where the use of customer support phone lines is nearly nonexistent. People prefer live chats over sitting on hold listening to elevator music.

If live chat options are too expensive, try a cheaper alternative like automated responses. Chatbots mimic real life people based on the keywords visitors use.

Having clear and easy to find contact information is another way to build trust and authority. Customers are more likely to convert if they know they can contact you if need be. 

  1. Display Quality Images

A picture is worth a thousand words. And in the world of tech start-ups, the right image can make or break your conversion rate.

Quality images don’t just make your site more attractive but they help attract the right kind of attention and engage visitors on a different level. Think of your target audience and what images speak to them most.

For example, if your target audience is property owners, you should be targeting men over the age of 35. Choosing images that appeal to teenagers or older women wouldn’t be appropriate. Tapping into your audience’s interests will increase conversions. Property industry site Rent Round, does this by choosing images that best suit its target audience

It’s also important that your images are high-quality. Low-quality images look unprofessional and reduce conversions.

  1. Positive Reviews Speak Volumes

Most people read reviews before they visit a website or even think about making a purchase. There are countless customer review websites that customers turn to. The best way to create a good reputation is to ask happy customers to leave you a positive review.

Add positive feedback to your sales page to help improve credibility and increase conversions.

  1. Utilize Social Media Platforms

Social media isn’t reserved just for teenagers and superstars. These media platforms are often an untapped resource for e-commerce tech-start ups. If you want to increase conversions, you need to increase your social media presence.

Not only do you need to post on your accounts consistently, but you need to engage with your followers. Responding to their comments and feedback helps boost customer loyalty, which leads to increased conversions.

Your social media efforts should be equally focused on branding and customer interaction.

  1. Create Different Package Options

Similar to offering different payment options, you also need to give customers different packages to choose from. Some people prefer paying up front for everything while others like to extend payments over several months.

Upfront payments are often cheaper, but not all customers will have that chunk of change. They may prefer monthly payments, even if they end up paying more in the long run. The more package and payment options you offer, the wider your customer base will be.

Common packages include basic, standard, and premium. 

  1. Keep Your Customers for the Long Haul 

Subscription-based packages and buying options are some of the best because they lock your customers in for long-term agreements. 

Most agreements start with a free trial. Once the trial period is over, customers are locked into a certain number of monthly payments. Of course, you need to tell the customer the parameters of the agreement but this arrangement helps provide you with consistent income. 

In many cases, people don’t realize that they have a subscription with you. It may even take them several months for them to realize and take the necessary steps to cancel. This means extra income for you. Just be sure to explain the cancelation process, including fees.

You can also offer monthly rolling payment options. While this isn’t the same as locked-in revenue, flexible plans allow you to charge a higher fee.

  1. Everyone Likes Freebies

While your customers might like freebies, what will you cost you? A little sacrifice now could lead to increased conversions later. Offer free trials that allow customers to use your services for a specific time frame before having to pay.

If you offer a quality product or service, chances are, these free trials will turn into a membership or long term partnership. Before this point, try to enroll members in an auto-renew plan so that their membership fees start the minute the free trial ends. 

Always be upfront with your customers regarding billing, timelines, and fees. The worst thing you can do is deceive a customer. This will tarnish your name and reputation. 

The only downside to this scenario is that you may see a dip in conversions when a handful of customers drop off following the free trial period. 

These 10 tips can help you improve conversions for your tech start-up. Just a few subtle changes can improve the customer journey, boosting conversions and your revenue. 

Maintain your reputation by providing a detailed, clear, and speedy buying process. Never lose another customer to a competitor!

 

Author: Raj Dosanjh founded Rent Round, a letting agent comparison site that is taking the property industry by storm. Raj Dosanjh also founded a consultancy that works with large banks including the Bank or New York Mellon, Barclays & Deutsche Bank. He has been featured in the Harvard University research portal and numerous tech & property articles.

Categories
Online Business

How To Deliver Your Online Course

How To Deliver Your Online Course

Hi

I love you.

Huh?  We don’t really know each other that well do we……  

When I first started my teaching career, I did my teaching practice in an all-male prison in the UK.

One of the subjects I taught in the prison was communication skills.

In one lesson, I was demonstrating how critical our choice of delivery is in any form of communication.

And so, after a moment of calm silence and turning my back on my class, I suddenly spun around, whacked my hands down loudly on the table and screamed “I LOVE YOU!!” in the loudest, angriest and most aggressive manner that I could muster.

12 fully grown, criminal men all jumped out of their skin.

I had delivered to my class what is quite literally the nicest words in the English language, but had delivered it in a manner that left even the baddest men in town feeling like they just woke up with a snake around their necks.

You see, delivery is powerful.

We could have the most amazing online course content on planet earth; but if we deliver it in a manner that makes your learners want to watch paint dry instead, then everything is lost.

How you choose to communicate and transfer your content from you to your learner is an extremely important consideration, and Step 7 of my course creation process.

Here are what the other 6 steps are just as a reminder:

  • Step 1: Pick The Perfect Topic For Your Online Course and
  • Step 2: Ensure Your Course Idea has High Market Demand
  • Step 3: Select Your Course Type, Business Model & Pricing
  • Step 4: Craft Your Learning Outcomes
  • Step 5: Select and Gather Your Course Content
  • Step 6: Put Your Modules and Lessons in Order

Let’s get stuck in to delivery.

Step 7: Determine the Most Engaging and Effective Delivery Methods for Each Lesson.

CLICK TO WATCH THE VIDEO: >> How To DELIVER Your Online Course So That Your Learners LOVE It   

As you have seen from my prison situation, the choices you make in this step will determine how successful your students are going to be at completing your course, whether they like it or not and whether they even get anything positive out of it.

Everyone is Different

How do you like to consume content?

  • ebook on your electronic device? (visual learner)
  • A physical book that you can hold, annotate and smell? (Yea, I’m a book sniffer!) (visual-kinesthetic learner)
  • Video you can watch? (visual-audio learner)
  • Audio podcast you can listen to? (audio learner)
  • A printable workbook that you can fill in? (Kinesthetic learner)
  • A social learning area where you can chat with others? (social or heart-centered learner)
  • A one-on-one coaching call with an expert?

Do you like to go from A-Z when you are learning something new, without missing any of the steps along the way? (Analytical learner)

Or do you like to just skip to the bits you need and happy to ignore the rest? (Global learner)

The fact is, everyone likes to learn in different ways, and so when you are selecting your online course delivery methods, the best strategy is to ‘think of everyone’….

Deciding on the best way to deliver your content

You need to be aware of the different principles of adult learning, learning preferences and all of the different ways that you can deliver your training to really make sure that your training is as engaging as possible.

  • Will you have videos, reading content, activities, audio content?
  • What type of visuals and downloadable resources will you have?
  • Will you have community learning areas?

You need to make sure that you have a balance of visual, audio and practical methodologies so that everyone is engaged and provided with the optimum learning experience.

A mixed-method approach is always best

The great thing about choosing your delivery is that you can be as creative as you wish, provided that you select a variety of delivery methods.

Choosing one single methodology for delivering your content will serve only one learning preference, and completely exclude the rest.

My personal preference is to deliver all of my teaching content via ‘talking head‘ and ‘screencast’ videos, I then add in text content, worksheets, activities etc. at appropriate points around them.

**But you do need to always create what is best for your learners – and often the best way to find that out is to simply ask them.

Different Content Delivery Methods & Utilizing the Delivery Features of Your Online School

Content is WHAT you are teaching.

Delivery is HOW you teach it, and HOW you transfer the knowledge and skills from you to the student.

There are endless ways to do this and no right or wrong.

There is no special combination that you ‘should’ use or how much of each type of delivery method that you ‘should’ include.

**Note: Unless you are teaching an accredited or licensed training – in which case, please ensure you following the training package guidelines that apply.

Here are some different types of content that you could use to present and ‘transfer’ your expertise to your learner that is available within your online school (this is a screen shot from Thinkific) however all of the learning platforms are extremely similar.

I will explain each of the lesson (delivery) ‘types’ in more depth below.

The Use Of Activities And Practical Exercises

Don’t overuse practical activities – only use them if they are essential steps for the learner to achieve a learning outcome.  

Don’t just put exercises in for the sake of it.

Aim to give your students results as much as possible rather than just information.  

Don’t use assessments, exams or tests unless it’s essential.

VIDEO

Videos are the most engaging way to teach an online course.

Nothing replaces human contact and the eye-to-eye personal presence that comes from classroom teaching – however, using video is the next best thing.

Humans like to look into the face of the human that is talking to them – so PLEASE be brave and go with putting your face on the camera in your course – it is the best experience for your learners.

The other great thing about having your face on the screen is that nobody can plagiarize your content and pretend it’s theirs – when it’s clearly YOUR FACE doing the talking! 

So it’s good for IP protection too!

Simply record your video and upload it to YouTube, other social media and/or your online school.

Here are some different ways that you can record video:

  • Talking head – your head/face on the screen talking to the viewer
  • Green screen – this allows you to replace your background with anything – slides, video, photos, whatever you like.
  • Webcam – great for if you are also filming your screen at the same time as having your head/face speaking on screen too. 
  • Screen cast – this is when you use video recording/editing software on your computer to record your computer screen. There are lots of different software tools you can use for this, I use Camtasia. I like this one because you buy it one-off and have it for life at no extra costs and you can download it on 2 devices. I like to have one on my desktop computer and one on my laptop for when I’m on the road. 
  • Mobile phone – smart phones now are excellent for recording tutorial videos. I use my mobile phone for pretty much all of my course filming now.

QUIZ: 

You could make fun quizzes so that your learners can test their knowledge at the end of your modules; or to ensure that your students have understood your course content. 

You can create multiple choice questions with one or multiple correct answers. 

These ‘formative assessments’ help reinforce what you’re teaching as you go along. Quizzes are also used to determine if you are teaching the content effectively.

If your learners are getting the answers wrong it could be your teaching or delivery methods that need tweaking, rather than an issue with the students’ competence.

MULTIMEDIA: 

This type of lesson is when you ‘embed’ an external website URL into the INSIDE of your online course. 

This can be great for embedding live webinars, videos that are hosted on other platforms, websites, surveys – basically anything with a URL so that they can access it without having to leave your learning area.

TEXT: 

This is one of my favorite lesson ‘types’ in learning platforms as it is one of the most versatile. These lessons have a window that looks a little like a Word document (to you as the course creator), and allows you to add videos, images, text, hyperlinks and more, all in one single scrolling screen lesson. This is the lesson type that I use the most so that I can add a range of accompanying support content with each video.

SURVEY: 

You can use surveys for all sorts of purposes such as collecting student information and evaluations before and after the course to learn more about them, what they want to get out of your course, what they learned, how they feel about your course and more. 

I personally prefer to use Google Forms to do all of my surveys and then insert it into my course as a ‘multimedia’ lesson so that they can take the survey right from inside their learning area.

PDF: 

You can save any document as a PDF and load it into your online school so that your learners can view it on their screen, even if they don’t have a PDF viewer on their computer.

This is useful for not breaking the online student experience as they don’t have to download it to view it – it just shows the PDF pages on their screen when they start that lesson.  You can also choose whether or not to allow downloads of the PDFs too.

AUDIO: 

The audio delivery method is perfect for learning on the go and many students love to have the option to just ‘listen’ to their training as they are commuting to work, at the gym or doing the housework.  

You could use this type of delivery method for sharing music, meditations, podcast episodes, language demos and much more. Simply save your file as an ‘MP3’ and press upload! 

You can also extract the audio from your videos so that students have the option to listen to your tutorials rather than just watching the videos.

DOWNLOAD: 

When learners have paid for a course, their sense of having ‘got value’ is significantly increased when they have something that they can physically hold, touch or use.  Not to mention, your kinesthetic learners will be hugely served.

This makes having file or document downloads in your course a popular option.

You can have students download any type of file or document, including worksheets, workbooks, guides, templates, videos, optional course material, audio files, images and much more. 

You can also add a video, text and images to your download lessons to teach the learner what they need to do with their download.

This means that you can first have a video to explain what the download is and how your students should use it, and then give them the download button in the exact same location.

EXAM: 

If you want to test your learners like timed exams, have retake limitations and varied question types, you can use professional exam tools such as Brillium which can integrate with a lot of online learning platforms.  

This is good if you are teaching a licensed or accredited program that requires assessments for successful completion.  

I wouldn’t recommend giving your students ‘exams’ unless they are essential for an accredited outcome – nobody likes an exam and it can detract from the learning experience if it’s not critical. Use quizzes instead if you want to test learning without the pressure.

ASSIGNMENT: 

Assignment lessons are great for any type of homework that you would like a student to submit to you for approval.

Now It’s Your Turn To Choose

Now that you have an idea of some of the different types of lessons/delivery methods available to you, go back to your Course Plan.

In the column titled ‘Lesson Type’, now write in what type of lesson each of your lessons will be – eg ‘Talking Head Video’, ‘Screencast video’, ‘Download’, ‘Text + video’ etc.

In my ‘Concept To Course’ program I take you through the delivery methods of your course and ensure that you have picked the right ones for your unique course topic and target market.

If you want to make sure that you get your delivery right (no screaming ‘i love yous’!), then make sure you grab one of the limited places today.

So there you go, you’re now another step closer to completing your course!

Tomorrow, we enter the ‘championship rounds’ as we begin the final 3 steps with Step 

8: Filming, Recording and Editing your Online Course.

Talk to you tomorrow!

Sarah x

Contributor name: Sarah Cordiner

Contributor website: www.sarahcordiner.com

Categories
Online Business

Basics For Choosing A Domain Name

Did you know that if you don’t make an effort to protect your brand name (which may or may not be your business name), you could lose your rights to trademark it or to enforce it once it’s been trademarked?

That means you might not be able to prevent others in the future from profiting from your brand or confusing consumers about your brand.

The first step to protect your brand is to federally trademark it, so you can legally enforce your rights to it. Another critical step is developing and implementing a domain name strategy.

What is a Domain Name Strategy?

The purpose of a domain name strategy is to proactively protect your brand online by reducing the chance for others to use your brand name in their online activities, specifically, in their website URLs.

For example, Nike owns Nike.com. Imagine if another company began selling sportswear at Nikes.com or Nike.biz. There could certainly be confusion among visitors to those sites.

Visitors might wonder if those sites are owned by Nike or not. Only a savvy shopper who takes the time to do some research would know for certain.

Of course, Nike would want those confusing sites taken down, and since Nike is a trademarked name, the Nike Company can enforce its trademark rights and require that the confusing sites be removed from the Web.

Small businesses can do the same thing. First, trademark your brand name. Second, implement your domain name strategy. Third, monitor your brand online (and offline), and fourth, enforce your rights to it under U.S. trademark laws.

A domain name strategy can be very complex. Large companies with household brands like Nike might own hundreds of domain names, but for a small business that doesn’t have the budget to register every imaginable variation of its brand name, it’s important to ensure the basic steps are taken at the very least.

How to Develop a Domain Name Strategy

Following are five essential first steps you should take to protect your brand with a small business domain name strategy:

1. Common Extensions

If you do nothing else, be sure to register domains that include your brand name with the most common extensions including, .com, .net, .org, .us., .info, and .biz.

2. Common Misspellings and Obvious Variations

Register domain names that include your brand name with obvious mistakes or variations using the most common extensions referenced in no. 1 above.

For example, if your jewelry brand is Snowcone, register snowcone.com and snocone.com as well as snocone.net, snocone.biz, and so on.

3. Phonetic Equivalents

It’s also important to register domain names that are phonetically equivalent to your brand name.

For example, a company with the brand name WearsLikeNew would register WearsLikeNew.com and WaresLikeNew.com using the common extensions.

This is particularly important for brands that include numbers. A brand like 4TheWin.com should also be registered as ForTheWin.com and FourTheWin.com using the common extensions.

4. Plural and Singular Variations

If your brand name is singular, register the plural version as a domain name, too. If your brand name is plural, secure the singular domain name as well.

For example, InnovationToProfits.com is also registered as InnovationsToProfit.com. These variations should be secured for each common extension.

5. Hyphenated Variations

The final step in the most basic domain name strategy is registering hyphenated versions of your brand name.

For example, CircleLegal.com should also be registered as Circle-Legal.com. As with the four steps above, do this for each common extension.

5 Essential Basics of a Small Business Domain Name Strategy [Smallbiztrends]

Categories
Online Business

Will The Online Travel Industry Recover?

Technology has made our life easier and more comfortable, and it has revolutionized the travel industry. Nowadays, travellers like to plan and book their trips online via a mobile app or website without human interaction.

It is known that travellers are keen to use social media platforms, mobile application and websites to explore their destinations and technology is an important factor in every sector.

It is estimated the online travel industry reached nearly $755 billion in 2019 at a compounded annual growth rate (CAGR) of 7.9 per cent since 2015. Overall, the online travel booking accounted for 63 per cent of the approximately $1.2 trillion the travel industry generates every year. Around 82 per cent of travellers book online using a website or mobile app, and an appropriate 0.27 per cent of the world’s online spending comes from the travel industry.

The COVID-19 pandemic had a negative impact on the online travel industry with a decline from $744.7 billion in 2019 to $595.8 billion in 2020, or 20 per cent. Due to the pandemic, most countries imposed social distancing in place with severe travel restrictions. This was a main reason that all industries—airlines, railways, hospitality and tourism—lost business. However, the market is expected to grow and reach $902.2 billion in 2023 if the pandemic can be controlled and economy recovers.

The online travel industry can recover from the COVID-19 pandemic but it requires owners and entrepreneurs having good strategy, clear segmentation and technological advances, good products which entrepreneurs will offer to travellers. Entrepreneurs also need to provide unique products and assess these carefully.

The travel industry has a lot of comments and feedback from black and Asian American travellers who have experienced racism during their stay abroad. Now with additional concerns of COVID-19, travellers are more concerned than ever about travelling due to feeling like there is a lack of priority care regarding minority healthcare, especially when traveling.

The latest report conducted by both the big consultancy firm McKinsey & Company and Skift Research, highlighted that the travel industry had faced unprecedented turbulence and suggested ways to respond to the pandemic. The report stated “We see signs of latent demand for travel. Customers are interested in and willing to travel again when they are allowed to do so, even before a vaccine is available at scale”.

The report also suggested that rather than outlearning and outcompeting one another at a benefit to no one, the travel industry needs to identify opportunities for complementary, collaborative ecosystem plays that help get the industry back on track. Instead of doing the minimum and seeing what happens, travel has the choice to declare what must be done systemically versus independently. Getting past the fact that working together is better, travel protocols including rapid testing, safety standards, and health passports need an industry champion to lead the way and for others…True, there are complexities in teaming up—legacy systems, fragmented ownership structure in hospitality, to name two. But now is the time to think in new ways to establish bigger, bolder relationships.

That is very useful advice from the big consultancy firm McKinsey & Company for the travel online industry entrepreneurs during the unprecedented turbulent time caused the Covid 19 pandemic. Given very recent significant developments this is an interesting business to watch and invest in for the years to come.

Will The Online Travel Industry Recover? [Entrepeneur]