The live events game is indeed rapidly changing and to win in the future each of us must master the new rules. Here are five new rules that you may wish to follow to help insure your future success.
First, be ahead of the game in terms of using more on line content upon many more channels to enhance face to face event experiences. According to some business analysts who are are monitoring the early days of countries who are showing signs of partial recovery, such as China, consumers of hospitality, tourism, attractions and events are rapidly turning to on line channels to influence their decision to purchase, attend or trade with your business. Therefore, make certain you are increasingly using your on line presence to reassure, reconnect and redirect your current and future clients in terms of your future business strategy.
Secondly, remember that perception is reality to many consumers. Therefore, build in an online perception of flexibility in terms (generous cancellation policies) and the security of your business operations (describe in simple terms your Corona virus Covid 19 staff and client policies).
Thirdly, transport has changed and may be disrupted for the mid term. International travel may be distrupted significantly for the mid to long term. Following September 11, 2001 many airlines continued to operate on a limited basis. However, this is not the case in a time of pandemics when there is a greater fear of disease spreading through travel which is why international travel may experience a much longer distruption. Therefore, develop more local domestic and staycation opportunities for folk who may be able to walk, drive or use local public transport to your event. There is an insatiable need for leisure experiences and escapism and therefore your guests will find ways to transport themselves to your events. Make it easy for them. You may develop these ideas and packages on line now and then be ready to implement them once the requirements for social distancing begin to ease.
Fourthly, be prepared for travel patterns to change significantly due to short to mid term potential fears of population density. Consider offering some events in rural settings that have the capacity to host small (up to 100 persons) to mid – size (up to 500 persons) groups.
Fifthly and finally, the size of events may change and therefore, the pricing must change accordingly. Your guests may desire smaller and more bespoke event experiences in the future and this may require that you increase individual costs in order to continue to generate a fair profit. Therefore, when developing your new pricing strategies offer additional features that do not impact your bottom line, however, will increase new demand for your events. For example, offer a VIP package with free parking, preferential seating and other complimentary services, a free welcome beverage, and a free small gift for the first twenty – five guests who register to stimulate early demand. And remember, always offer a free guaranteed flexible cancellation policy so that your client’s risk is limited.
As the events game changes in future months, we must be prepared to learn some new rules in order to remain competitive. The Oxford dictionary defines a game changer as “an event, idea, or procedure that effects a significant shift in the current way of doing or thinking about something.”
As the rules of the events game are changing, it is now time to invent your new moves so that you may better control the game board and find new ways to compete more successfully in the future.