Over the last month or two my colleagues have penned some great articles on what it is that helps venues become the social hub of their community.
We’re in a fortunate position with our Australia wide network to really have a finger on the pulse of a huge cross section of pubs and clubs.
I have really enjoyed seeing the different insights that the team have come up with. Some great suggestions on boosting atmosphere, driving visitation and spend and getting the most out of your sports broadcast.
There are unlimited options for venues looking to take things to the next level. There is, however, in my opinion, one key component in selecting suitable entertainment offerings, broadcast providers or even new furniture or renovations.
The thing I notice time and again is that the best venues are skilled at identifying value. They spend time weighing up their options and make a selection on what is best for their venue and their patrons.
I believe that there are three key components in getting the best value when investing in your venue.
There are a huge range of costs in running an Australian pub or club. From licenses to staffing, advertising to entertainment, it never ends. Rather than just paying bills and moving aimlessly on to the next expense, the best venues have a vision of what they want and what their investment will do to benefit their bottom line and the experience of their patrons.
Once the vision is established the next thing a good venue will do is research. Let’s use entertainment as an example. A venue decides to add something fun to liven up a quiet night. It might be live music, poker, trivia or even bingo. The good venues will step back and think about what’s best for their existing clientele and what may bring in new patrons and make decisions based on their findings.
- Value vs Price
This is the key component. There’s always someone offering lower prices. People who are willing to come in and undercut quality suppliers for a quick buck. But do they have pride in what they do? Can they efficiently market themselves to a major network? Are their staff trained professionally? Looking for value over price will always result in the best ROI and time and again the best venues are the ones with a keen eye for value.
For more info on getting value for your entertainment spend please feel free to get in touch.