2020 Function Venue Strategy Plan Template & Growth Ideas  

Venue Strategic Planning Template For Growth

No matter what sort of venue and events spaces that you have – here are some great IDEAS to grow your Venue Sales & Profits with better Venue Strategy and Venue Business Plan.

Here is a large list or MENU of Elements that you can include when creating your 2020 Venue Business Plan, Your Venue Strategy Plan, Venue Sales & Marketing plan or your  Growth Action Plan.

Remember – “Prior preparation prevents a pretty poor performance” – So PLAN ahead for better results in 2020.

Venue Strategy

A VENUE STRATEGY PLAN IN 8 EASY STEPS

  1. VMV – Vision, Mission and Values Statement of Purpose (Why do we exist?)
  2. Do A SWOT Analysis  – Turn your Strengths and Weaknesses into Opportunities
  3. Describe your TARGET MARKET and Ideal Customers in detail
  4. COMPETITORS Analysis (Detailed Analysis by Sector – how do you compare?)
  5. Clarify Your VALUE PROPOSITION – Your Brand Story, USP and Value
  6. Set your FINANCIAL GOALS – Historic Data, Revenue,  KPIs and Profits
  7. Focus on your Sales STATS and CSFs – Critical Success Factors
  8. Collate your ACTION PLAN – Focus on Key Actions that are highly effective and low in effort – What, Who, By When.

THE ULTIMATE LIST OF  ELEMENTS YOU CAN ADD TO YOUR 2020 VENUE PLANNING

1. KNOW EVERYTHING ABOUT YOUR VENUE 

  • SWOT Analysis – Strengths, Weaknesses, Threats & Opportunities
  • FAB list – Features, Advantages & Benefits  – Which means… and Because…
  • FLOW Experience Analysis – First, Last, Ouch & Wow! (Start on ouch! Improvement List)
  • FAQ’s – list of Frequently asked questions and FADQs – difficult questions
  • 7 Reasons WHY? – Why do customers choose You, Your business, Dates, Products
  • Objection Buster – 7 Reasons Why Not? and suggested Solutions for FADQs
  • Identify your USPs – Unique Selling Propositions to differentiate your offering
  • Traffic Generators – Businesses, attractions or events that draw BIG crowds
  • Sustainability plan – Ideas to be more sustainable – reuse, recycle, reduce.
  • OHS & WHS Risk Assessments updated
  • Your People – Org Chart and Roles

2. KNOW YOUR MARKETS & PSYCHOGRAPHICS

  • Do a PEST Analysis – assess Political, Environmental, Social and Tech Opportunities
  • Clearly Identify your Existing Markets and Growth Target Markets – Peak & Off-Peak by sector – e.g. Ethnic, Younger, Female, Schools, LGBTQ (Gay Marriage market)
  • Visual Area Wall Plot – Demographic Data – Census 10 km radius , Alliances & attractions
  • Preferred Communication Channels – Do your customers prefer High touch or high tech – Phone, Email, Chat, face to Face or Mail

3. DEFINE YOUR MARKETING STRATEGY Go-to-Market Strategy

  • Target Market Personas – Individuals, Local, Tourist, Groups etc – Who are your clients?
  • Venue Brand Strategy – Define Your Brand and your Brand Story
  • Style Guide – What are your Branding Rules? – logos, fonts, colours etc
  • Collateral Audit & Review – Pics, brochures, Stationery
  • Advertising Strategy – Signage, Magazines, Flyers, Online, Local Area, Database, Events
  • Show & Expo Strategy – e.g. Wedding Shows, AIME, ATE, RSVP, BE etc
  • PR & Publicity Plan – online & general media
  • Networking Strategy & Sponsorships
  • Testimonials & Video Testimonials

4. DECIDE YOUR ONLINE WEBMARKETING STRATEGY

  • Automated Marketing & Funnels – CRM Database
  • Webmarketing plans – SEO/SEM, Keywords, Portal listings,
  • Website analytics & Web statistics – Semrush, Moz, Adwords etc
  • Create more online content
  • More Video & Pictures Online
  • Autoresponder & Email marketing

5. CLARIFY YOUR SALES STRATEGY & STATISTICS

  • Set Your Targets – Revenue Goals & KPIs – Wage %, COGS % Gross Profit targets
  • Sales Goals for the year – by month, by room, $ and counts, Food & Wage costs est
  • Sales Statistics – Enquiries, Inspections, Sales by Month, by Room, $ and counts
  • Advanced Bookings – Count & $ value in advance
  • Seasonal Analysis – Peak, Shoulder & Off-Peak season expectations
  • Year Planner Calendar – Public Holiday, School Hols, Special events (Opportunities)
  • List of Annual Flagpole & inhouse Events – design and promote own in-house events
  • Sales Aids to develop  – Phone Scripts & Email Templates, Photos, powerpoints etc
  • Visual Sales Charts & Graphs with current & actual results
  • More use of Automation and Technology – AR, VR, Webinars, Online meetings
  • More Follow Up – Sales Enablement

6. IMPROVE YOUR FOOD, BEVERAGE & KITCHEN VENUE STRATEGY

  • Food Trends & new opportunities – more allergies, vegan & vegatarian
  • Tailoring to specific markets and themes
  • Menu costings, Menu Design & Pricing
  • Costed Rosters, Standard Menus & Food Photography
  • Improved Kitchen Systems and Processes

7. CLIENT POST-SALE VENUE STRATEGY – “Repeats & Referrals” Growth Strategy

  • Customer Surveying and Mystery Shopping
  • Online Reputation Management
  • Referrer Rewards Strategy (Alliances List)
  • Database Strategy – Clients & Prospects
  • Gratitude Program – Cards, Gifts & Rewards – Loyalty program
  • Outbound Telemarketing – Warm & Cold Calling & Follow Ups
  • Newsletter & E-Newsletter
  • Direct Mail – Postcards

8. FUNCTION SALES TRAINING PRIORITIES – Improve Enquiry Conversion

  • Improve your Knowledge of Property & Products
  • Improve Skill in Phone, Email, online chat and Face to Face Selling
  • Improve Confidence, Dealmaking & Negotiation Skills

MORE VENUE SALES & MARKETING IDEAS

  • Develop your Annual Marketing Calendar Plan
  • Define and deliver an Exceptional Customer service standard
  • Pricing Strategy update – revenue Management / Supply and Demand
  • Define Your “House Rules “
  • Tribe building strategies – grow your fans & Followers with Celebrity / influencers
  • Alliances lists – Top 10 clients by love, top 10 by$, Top 10 Referrers, Top 10 connectors
  • Alliance marketing – database
  • Get more DATA – collection of customer data
  • Use Data – Facebook, Instagram Email. Postcards & SMS – e.g. custom audiences
  • Tourism promotion strategy
  • Events marketing
  • Offpeak Events calendar
  • Suggested Itineraries for tour groups
  • Bus tour marketing plan
  • Local area marketing plan – Get known!
  • Use Screens, signs and sponsorships
  • Young person marketing – Appealing to Gen Y and Z
  • More Stickers, Badges and Lanyards!
  • Merchandising for young, old, gifts – Collectible Merchandise
  • More Quirky products
  • Loyalty program benefits
  • Grandparents strategy (Mid week market)
  • Pre-School Strategy (Mid Week market)

 

FOCUS ON 8 KEY VENUE GROWTH STRATEGIES

  1. DELIVER AN AWESOME CUSTOMER EXPERIENCE
  2. WORK YOUR PAST EVENTS & ENQUIRIES DATABASE – More Repeats & Referrals
  3. CREATE MORE CONTENT – Blogs, podcasts, Stories, E-Book etc
  4. GET MORE PICTURES & COLLATERAL –see hotelphotographer.com.au
  5. MORE LOCAL AREA MARKETING – Sponsorships, Alliances & Demographics
  6. USE MORE EXTERNAL & INTERNAL SIGNAGE & SALES AIDS
  7. BETTER WEBSITE & WEBMARKETING
  8. PROMOTE YOUR OWN EVENTS – DEVELOP A VIP ATTENDEE DATABASE

 

ABOUT THE BLOG AUTHOR – David Staughton CSP CCEO

READ THESE BEST BLOGS RECOMMENDED FOR VENUES & HOSPITALITY

David Staughton Hospitality TrainerBig Hat Professional Services can help you grow your hospitality business and improve your Function  Event & Wedding Sales. David & Kevin can help you!

David Staughton CSP is an award-winning International keynote speaker, and experienced Small Business consultant.  With over 15 years ‘hands on’ experience in the Hospitality industry, he speaks and consults on a wide range of hospitality business improvement in the areas of sales, staffing, service and strategy.

Kevin Kosky is a skilled business communications trainer. He is a specialist on inbound phone skills, presentation skills and delivering sales presentations. Kevin is an expert teacher of face to face communication skills like sales, supervision, and presentation skills.

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