We come across hundreds of venues every week who are wondering where things are going wrong, well, not going wrong, but could definitely be going better!
Venues, such as: town centres, city centres, shopping centres, supermarkets, retail parks and travel hubs, just don’t realise how much additional income they could be making by effectively utilising the spaces available to them, and that’s where we come in.
So, how do you generate more revenue from your venue?
If you’ve a location within your venue with high footfall that you feel could be snapped up by something (or someone) a little different then in-store demonstrations in general are definitely an idea to consider if you want to add to your venue’s existing income. In-store demonstrations cover all manner of promotions and can be from something as basic as charity collections, right through to sales packages, or even product sampling and experiential marketing, right in the heart of your venue. Not only do these sorts of events grab the public’s attention, but you also manage to nab a bit of free advertising as people will comment on such things across social media – not bad eh? So, let’s break these down a little bit to give you a better understanding…
Customer Acquistion Promotions
Customer acquisition promotions are a hassle-free way to offer your consumers a different experience within your venue or location, as well as generating additional revenue. This sort of promotion is easy to set up, and generally involves such things as; surveys, questionnaires, market research, utilities quotes, etc.
Sales promotions can come in many forms but all work to provide a visual experience to consumers, as well as the opportunity to make a purchase. Retailers within the telecoms industry find sales promotions – for them – to be a popular choice, for instance, Virgin Media. This type of promotion can generally be organised on a week-to-week basis so if you wanted them to remain in business within your venue for a longer period of time, it’s an easy box to tick!
A more long-standing solution to generating more income would be to introduce a long term retailer to your venue. These can range from; food and beverage vans, to beauty, health and wellness kiosks, to retail merchandising units – the list is seemingly endless! The choice would be entirely up to you on which type of vendor you’d feel would be the right fit for your location, but with trading contracts in place, it would indeed be an excellent opportunity for you to guarantee an additional channel of revenue!
Believe it or not, these are just a few of the solutions on offer, so if you’d like to discuss what you could add to your venue to not only give your consumers an additional experience, but also to produce a substantial further amount of income, drop us a line, because after all – it’s what we do best!