10 Focus Areas for hospitality venues in a Post-Pandemic World
- On June 27, 2022
DNS Specialist Services
With the potential ‘easing’ of the pandemic and lockdowns [hopefully] a threat of the past, 2022 is bringing some welcome, but cautious optimism to hospitality venues as the forge a new path forward.
Whilst we know COVID has been terrible in many aspects, it also produced ideas of new as hospitality venues were forced to make hard decisions, change their business models and scrutinise ancillary spend (particularly for those legacy promotions we never thought would die).
It is no surprise that whilst our businesses have changed forever, so too has the market with their needs, expectations and behaviours evolving over this period.
The impact on the market has seen a number of key trends emerge, as venues now turn their attention onto ensuring they have pandemic-agility and are taking advantage of these new opportunities, particularly in the tech-space.
Below are 10 key areas for hospitality venues to consider in the post-pandemic market:
New Emerging Markets
The pandemic has seen a surge of new market opportunities. In home entertainment, younger demographics and more people working from home means a change to the facilities and how we market our venues. Low interest rates are injecting more fun-money into the hands of mortgage-owners and have also changed the disposable sector relying on savings. Do you have the facilities and offerings to keep this market in the longer-term?
Systems & Integrations
Connecting your existing systems or investing in new technologies is critical to venues adopting a more fluid and proactive approach in communicating with patrons. Efficient BI Tools like Eagle i360 or Safestakes are fast becoming a key piece in a venue’s marketing arsenal, ensuring you are being more effective in your approach.
Digital Wallets
Venues are implementing technologies that allow for digital wallets with the customer experience in-mind. Fully integrated mobile applications provide venues with the opportunity to grow with the evolvement of digital wallets.
Championing Space & Comfort
People have become accustomed to the increased space, so hospitality venues are now looking at ways to create greater comfort for members, particularly in gaming rooms and restaurants. The question is, how do we maximise revenue in these spaces?
Technology Roadmaps
Investment into new technologies has skyrocketed, however it is critical that venues consider mapping out their technology strategy to ensure that systems will work in harmony and provide venues with the most flexibility. Consideration must be given to the impact both internally and externally.
Doing More with Less
We’ve been forced to adjust with staffing, supply shortages and increasing costs. Staying agile means venues are investing in greater digital signage, smaller promotional spend, event flexibility.
Diversification Strategies
The introduction of highly profitable takeaway models in clubs has proven that successful ‘diversification’ isn’t always about investing in other areas that detract from our core business focus – sometimes it is doing what we do best!
Community Engagement
The hyper-localisation of the suburbs means that people are more conscious and desire to know how their dollar is supporting their immediate community. Smart venues are developing strategies for advancing their community engagement programs ensuring that community contributions are well-promoted to the right avenues.
Smarter Marketing Strategies
A reduction in mass marketing to developing more engaging entertainment offerings for select groups and inviting the right people in with the right message at the right time. Many hospitality venues are realising the benefits of outsourced hospitality marketing support.
Loyalty vs. Rewards Programs
The transition away from traditional ‘rewards programs’ to smarter and more profitable ‘loyalty programs’ where the true indicator of success is impacting patron behaviour.
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