Tips From The Member Mentoring Committee - July 2009Building Business in a Tough Market by Supporting Existing EventsIn looking for new business, our instinct may be to identify a new niche or jump on every championship available. This approach requires an organization to build a new LOC, secure another venue and execute yet another business plan.
Initially this may seem to be a safe way to build our business. After all, this is often our weekly routine. But, when you are seeking increased revenue, more local spectators, or a new demographic, is booking a new event the guaranteed path to success? Or will your eagerness for new business cost you the affinity of the last dozen events you already landed?
Instead of looking at completely new markets, try the approach of taking a hard look at existing successful events before overbooking your calendar and your staff. It is important to be creative when you are thinking of ways to expand your existing markets. Consider complimentary competitions and sport-related activities.
For example:
* If you are hosting a disc golf championship, add a disc dog competition.
* Is your destination home to a cutting horse event? Create a western art show.
* Do you have a speed boat race? Book a jet-ski show or event leading in/out of the boat race schedule.
* Or are you hosting a regional BMX event? Try booking a state bike related conference.
Put yourself inside the mind of the spectator. What types of additional activies will be of interest to the attendees, and how can you build room nights from that interest? Benefits of building upon existing business at the same venue will bring fiscal relief versus incurring additional costs when establishing a second LOC and securing new venue contracts. Your organization will also be able to utilize existing site infrastructure, volunteers, vendors and promotional plans. And always look to local interest groups to support critical event needs.
About the Guest Contributor: Tammy Stout, CSEE, is the Executive Director of the Augusta Sports Council. At the helm of the ASC since 1995, the staff has grown 300% receiving solid county funding with sponsorship/ membership programs. Tammy leads a small team of very experienced event planners that direct services from full-on event management, creating a LOC, partnerships sales, media and promotions among many critical areas of government relations. Tammy's varied experience covers managing Olympic events, state games championships to tackling $500M sales packages. The Augusta market niches are definitely more grassroots than Final Fours.
Tips from the Member Mentoring Committee
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