Recurring Promotions Are Key to Generating Stable Profits
Creating recurring promotions that attract crowds and sustain steady business requires thoughtful planning and a savvy marketing system, says Alex Miranda, CEO of the Creative Complex, event-rebranding specialists.
Owners need to generate a stable environment and create value for guests who are seeking out an experience they expect to be top notch. A successful, long-lasting branded event is good for owners. Its money you expect to come into the club if kept up, Miranda explains.
“It starts with an idea,” he says. Owners need to evaluate what days are slow and then do something better with that day. “Then create the branding that would fit the target market,” he says. This branding is something that owners should pay special attention to. A successful event needs to have “a great brand behind it,” Miranda says. Think of a catchy name, a smart logo for the name and aesthetic flyers that will draw people’s attention.
As long as owners know their market and demographic they should be able to play toward them with a strong marketing strategy. Some long-lasting events can happen weekly, while others may take place quarterly or yearly. It depends, Miranda says, on the numbers; including the enormity of the event, the production cost of the event and the venue. Owners need to make sure that the recurring promotion makes sense from a financial stand point.
Marketing-wise, the benefit of a long-lasting branded event is that “you are able to build a steady following without having to spend so much time recruiting new people to come to your event.” Most recurring events grow organically through word-of-mouth however developing social media and other marketing campaigns will help.
For most clubs, having a great Instagram and Facebook presence is a beneficial way to get people to come out. Additionally, Miranda says “it’s all about the video.” It’s a two-fold approach. It helps owners get testimonials and footage of the event, “pumping out how awesome it was.” Plus, the video recap and footage is also good to hype up the event for the following year.
Miranda advises that sometime “the same thing becomes boring” therefore owners need to make sure that every once in a while they take a hard look at the promotions they run. Subtle changes or updates to a promotion can go a long way. However, there needs to be a checklist—a formula—that will be tweaked continuously and all staff members should have an assigned role the days and weeks leading up to the recurring event.