Venue Strategic Planning – A Venue Strategy Plan 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 Annual 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 this year.
A VENUE STRATEGY PLAN IN 8 EASY STEPS
- VMV – Vision, Mission and Values Statement of Purpose (Why do we exist?)
- Do A SWOT Analysis – Turn your Strengths and Weaknesses into Opportunities
- Describe your TARGET MARKET and Ideal Customers in detail
- COMPETITORS Analysis (Detailed Analysis by Sector – how do you compare?)
- Clarify Your VALUE PROPOSITION – Your Brand Story, USP and Value
- Set your FINANCIAL GOALS – Historic Data, Revenue, KPIs and Profits
- Focus on your Sales STATS and CSFs – Critical Success Factors
- 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 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
Read the Blog on Performance KPIs for an Event or Function Venue
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
- DELIVER AN AWESOME CUSTOMER EXPERIENCE
- WORK YOUR PAST EVENTS & ENQUIRIES DATABASE – More Repeats & Referrals
- CREATE MORE CONTENT – Blogs, podcasts, Stories, E-Book etc
- GET MORE PICTURES & COLLATERAL –see hotelphotographer.com.au
- MORE LOCAL AREA MARKETING – Sponsorships, Alliances & Demographics
- USE MORE EXTERNAL & INTERNAL SIGNAGE & SALES AIDS
- BETTER WEBSITE & WEBMARKETING
- PROMOTE YOUR OWN EVENTS – DEVELOP A VIP ATTENDEE DATABASE
ABOUT Kevin Kosky & BIG HAT – Wedding & Venue Sales Training
Big Hat Professional Services provides Hospitality Workshops, Webinars and Training on Sales, Service & Strategy using Certified Speakers and Trainers like David & Kevin.
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.
BIG HAT offers ….
- Hospitality Training Workshops & Public Training Workshops
- Sales Training & Customer Service Training Programs (In House)
- Conference Speaking & Breakouts
- Mentoring & Masterminds
- Business Growth Consulting & Advisory
Read what BIG HAT clients have to say (Client Testimonials)
NEXT STEPS WITH KEVIN
- Would you like to discuss Sales Training or Business Growth possibilities ?
- Would you like to discuss plans for an upcoming Workshop or Conference?
- Maybe an Online Consultation to discuss a challenging Business issue or review your website?
SUGGESTED ACTIONS TO TAKE
- Book a “1 on 1” Session for an Online Meeting about your Business or upcoming Conference
TRAINING WORKSHOPS
Book Evolve Function Sales Workshops here
If you would just like a chat or have any suggestions for this website please contact us
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