If you own or operate a space that you consider a destination for events, then you should DEFINITELY read this! It’s important to understand that the habits we find comfort in could be the very things that are not allowing us to bring in revenue. If you’re going to commit to the events industry by way of venue offering, make sure you address these 5 points. Remember, a little goes a long way and I’ve presented small inexpensive solutions to help you address these points if you find yourself (or your space) needing a little face-lift.
1. Hello? Anyone there?
One of my biggest petpeaves is finding a space that’s ideal for my client but unfortunately no one at the venue is getting back to me. If you can’t get back to people about making money, why are you in business? There are many event companies (Voilà included!) that will take on inquiry management for your space so you can focus on whatever has you pre-occupied. Upgrade your staffing infrastructure and hire an event management firm that will handle answering inquiries, sending proposals, conducting site visits and contracts. Most don’t charge anything to operate your space and only require a percentage of every event they close.
2. “Will that be fixed by my event date?”
If a prospective client has asked you this question, then you fall into the more literal category of upgrades. Understandably the cost of renovation could be well outside of your budget but I hate to sound cliché… you have to spend money to make money. There are always inexpensive cosmetic changes you can make to a space that will allow you to bring in the revenue to make full changes. Slap a fresh coat of paint on the walls and get rid of all the old, clunky furniture. Partner with vendors that can provide more modern amenities for commission i.e. lighting, AV, chairs and require that your clients use their services when booking your space. This will allow you to bring in the revenue you need to commit to a bigger renovation.
3. C’mon! Take it!
You used to be busy and now you have trouble giving it away for free? Don’t feel bad because this is one of the more popular reasons spaces need an upgrade. This upgrade has more to do with the image and reputation of the space. This could be a result of an absent or inactive sales and marketing team, or maybe your space is in need of a relaunch. Either way, you need to get your information in front of the right people and make your space relevant again. Invite the industry’s professionals i.e. planners, vendors, potential clients for a party in your space. Catering companies looking to grow their client list and showcase their food sometimes look for space donation which means they’ll not only provide the food and drink but they’ll also provide the guests!!!
4. I’m sorry. Does that say Peonies or Pennies?
If you’ve walked down the street recently than you’ve noticed we’re in a technological age of smart phones. From signing contracts to creating full proposals, people can literally run their business solely on their phones. So if you’re still handwriting your proposals or making your floorplans in PowerPoint, then please know this is one of the easiest problems to solve! There are countless software out there, all begging for your business. You can shop for the applications that best fit your business and the price that best fit your budget. All Seated allows you to create FREE floorplans. VenueBook charges a flat, low fee and not only helps you automate your proposals and contracts but clients shop their site for venue ideas so it serves as a marketing tool as well!
5. What’s that?
Have you sent photos of your event space that was taken on someone’s phone? Do you know what collateral is? Collateral is your venue’s info packet that you send to your prospective clients. It has information about the services included with your space, some pricing and updated, professional photos of your space. Again this is where vendor partnerships come in handy. Barter services from an event designer to “stage” your space with furniture, floral, lighting and have a photoshoot. Offer all vendors involved in this shoot a “preferred vendor” listing on your website and finished collateral so your shoot is free. From there, hire a novice, inexpensive graphic designer to put those images together with content you provide to create modern, brand-specific packets for your space.
Seriously, an upgrade to your space is not nearly as costly and complicated as it sounds. If you’re curious about whether or not your space falls into any of these categories or would like to discuss inexpensive solutions on how to upgrade your space, give us a call. We offer complimentary space appraisals for event venues.