After analyzing our biggest competitors on both local and international markets, we concluded that, although general principles of implementing our business practices in yacht charter business may have some similarities with the companies who already exist on the market, our success would solely depend on coming up with innovative and efficient solutions, that would not only differentiate us from other companies, but would also act as our definitive competitive advantages over them.
Hourly bookings - our direct competitors are renting their boats out only on a daily or weekly basis. This means, that smaller locations around the world, that do not require an extensive number of hours for an appropriate customer satisfaction, are missing from their portfolio. Some companies trying to disrupt the market by offering packages for a fixed number of hours, but that is still not enough - our analysis and experience in Dubai clearly shows, that time flexibility, along with the competitive pricing, are two main criteria when it comes to the customers’ decision. An hourly basis rental is highly efficient in popular tourist destinations (Barcelona, Rome, etc.), where you can spend just a couple of hours, and get a tour of the whole city. By giving our clients more flexibility, we are planning to compete with our biggest competitors in the regions throughout the world;
Additional experiences - because our business model is different from p2p practices, we are able to provide our clients with a lot of customized additional (chargeable) experiences, that can enhance their time on board, and influence them when it comes to choosing the place to book a boat. Our CRM system lets our service providers create a set of different chargeable options, that can be attached to the final itinerary by our clients. The list is pretty diverse, and ranges from Birthday decorations to private chefs of hostesses. All the add-ons can be booked online as well, and provide the customer with a chance to refine their choice significantly;
Mobile Application (WIP) - we have already created an iOS and Android application for our service providers, that acts as a mobile CRM. The next phase is to create a fully dedicated application for our customers, that would make the booking process even easier. Our biggest competitors do not have dedicated applications, and rely on a mobile browser version. In our day and age, it is absolutely crucial to have a dedicated app, that would be able to provide our clients with the same experience of booking a boat, as our desktop version does. Besides, the publicly available data shows that when it comes to hospitality and leisure services, dedicated applications are more preferable than mobile browser versions, meaning we will be able to get an additional stream of potential clients just by putting the dedicated application on the market;
Instant bookings - our internal feedback questionnaires show that being able to instantly book a boat can have a decisive influence when booking your yacht charter. That’s why we have an extensive number of boats internationally, with availability being updated in real time. This means we can acquire new bookings quicker than our competitors, who have an “availability request” system by default. And although some of our boats are still working on a “request” system, our ultimate goal is to have a fully instant platform worldwide;
Strong GCC presence - CharterClick acquired its first service providers and boats in Dubai - one of the fastest developing cities in the whole world. One of the reasons we started here was the direct hands-on access to our first service providers and users, that allowed us to monitor and refine the experience of both our clients and partners in real time. The true potential of yacht charters in the region has not been fully realized yet, and although our competitors claim that they have a presence here, their footprint is almost non-existent - in part because all of them are based out of the area, and were not able to penetrate the local market due to its uniqueness. This gives CharterClick a huge advantage in the region, along with an opportunity to have a real developing market, where we are able to implement our new features and monitor/tweak them without disrupting our worldwide operations. Plus, the fast development of the region in terms of tourism and luxury leisure gives us a big thriving market, with almost no competition in sight.