Event Venue Business Plan: How to Connect with New Renters
When it comes to real estate rentals, special event venues do not quite fit into any of the established sub-categories. These marketing venues may be leased to an individual managing a group event or to a large organization overseeing a one-time or recurring event attended by large crowds.
The lease agreement may specify a one-off event or the contract could stipulate repeat business in exchange for concessions such as a discounted rate or provision of bonus amenities that would otherwise be charged at standard commercial rates. A property manager for a unique venue hire needs to pursue creative strategies to get noticed in a crowded field where each potential renter comes with very specific needs and requirements.
Determining your Market Niche
As a venue for meeting and networking events, the facility should maintain a broad appeal as much as possible. While not every event venue is suitable for all special events, it is important for management to define the event marketing strategies that will highlight the advantages of renting the property.
Present these benefits without excluding any single group, and make sure to frame the offer in terms of a customizable or personalized package to emphasize this aspect of the venue and your services.
Promoting your Local Venue Hire
Event planners and direct clients cannot use your venue if they are not made aware of it. Promote your venue to your target audience, using traditional and non-traditional methods. Traditional marketing strategies include advertising packets, direct mailers, and email marketing. By using prequalified mailing lists, you can distribute information efficiently to potential renters.
Nontraditional promotions involve using social media channels, assuming that you have developed a network of relevant leads as part of your social network. Highlight your value proposition in a concise and understandable way, and make sure that it is featured prominently in your materials. Key information such as location and rates should be provided because renters would like to know this information up front.
Identifying and Networking with the Right Groups
Your event venue business plan should identify specific goals for a given time period. These goals should include creating a database of contacts from different industries, starting with event planners, human resources executives and leaders of businesses, trade groups, government agencies and nonprofit organizations. On the local level, keep your venue at the forefront through active participation in community events and offering incentives for local venue renters.
Leveraging Internet Communities for Venue Marketing
An event venue may be local, but none-local renters may be looking for venues like your facility. Even with a corporate website in place, it is helpful to participate in communities and platforms that are exclusively geared towards venue marketing. These communities include:
Add your listing to the searchable database. Renters can contact you directly, but confirmation of arrangements can be completed through the site’s website or mobile app. This is a nationwide service.
Post your venue description to a searchable resource listing. Potential renters will contact you directly, but transactions are completed offline. This is a zero-commission service.
The filters on this platform are organized and precise, which means venue owners and managers must enter key features that will be used to sort available spaces based on renter’s specifications.
Sharing the Visuals and Other Information
Your renters won’t always be local. Some will have to choose a venue sight unseen, so help them along by providing a video tour or a series of photos in a high-quality format. Include interesting information such as the historic significance of the venue if any or if any celebrity events have taken place in the venue.
Testimonials from past clients may also help swing the deal in your favor especially if the person is well-known in the circle. Consider displaying your venue’s calendar to indicate available dates and times to provide answers to preliminary inquiries.
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Frank loves writing. Currently, he writes for Port Conference, a company that provides wedding venues for hire in Port Macquarie.
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