There could be a tough year ahead for venues with Brexit looming and continuous changes in customer demands as well as further cultural shifts.
Getting patrons into venues is going to come with its struggles unless owners and marketers have a robust marketing plan in place.
Mistakes to avoid in 2020
With increased costs and dips in revenue, venues need to make every penny count when it comes to their marketing budget.
One mistake to avoid this year is allocating marketing spend to mediums where you can’t measure the results that actually matter.
This will reduce budget wastage and will assure you reallocate your funds to mediums where you can measure results efficiently.
The biggest mistake venue marketers make is accepting click through rates, website hits and impressions as results.
These are merely stats that don’t mean anything unless they result in customers in the venue, spending at the bar.
The only focus in terms of results should be on the number of customers in the venue and revenue spend.
Facebook marketing was popular for venue marketing in 2019 for example. But unless the advert led to a booking form (which meant results could be tracked) then marketing spend would have been wasted.
Although a venue marketer could see that they spent less than a pound per click and got hundreds of clicks, they couldn’t actually track whether these people attended the venue.
There are now many mediums that drive customers to venues that can be tracked in real time. These should be your focus in 2020.
Taking advantage of new technologies
Tech in the venue industry has made serious strides in the past couple of years, especially in the marketing sector.
Venues need to include new tech in their marketing plans to take advantage of their benefits and gain a competitive advantage over competitors.
Bloc, for example, is a social events app where patrons can check-in to venues. The biggest advantage for venue marketers is that on their advertising platform they only pay for a result.
A ‘result’ on Bloc is a customer attending a venue so the venue is only charged when they get their perfect result, a customer in the venue, spending. The app knows they have attended via geo-location.
It’s risk-free and budget friendly at only £2 per customer (inc VAT). There is also a free trial of £150 ad credit which is 75 free customers so venues can see how it works.
The best and most successful venues will adopt new technologies in 2020 and will be forward thinking and open to new ideas. Most tech companies allow free trials so there’s no risk in trying them out.
Adapting for demand shifts
With health conscious millennials and cultural shifts the most successful venues will recognise demand shifts and adapt accordingly to meet them.
In line with recognising these demand shifts then marketing plans can be edited and tailored appropriately.
For example, many venues will focus more on coffee and 0% to low alcoholic drinks as this market will increase dramatically in 2020.
Unless venues recognise what their customers actually want, then it doesn’t matter how good your marketing is, you simply won’t persuade them to attend your venue.
2020 is going to be an exciting but turbulent year so venues need to be ready and need to plan brilliantly.