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Victory Services Club – Five year strategic Events plan
ENDORSEMENT
“We were delighted with the work undertaken by GFG who conducted an impressive, detailed and insightful analysis of our Events business. As a result of applying the vast majority of their recommendations including other necessary infrastructure work, the Events team delivered a 15% increase on our Events sales.”
ASSIGNMENT
As a Membership club for both serving and retired personnel across all three armed services, the CEO asked us to write a three-year Strategic Business plan to drive more ‘events’ revenue to the Conference and Banqueting rooms.
This was following the completion of £2.5m refurbishment programme and as a result, our report focused on how the Events team could deliver a targeted £850k budgeted revenue, from the agency and corporate market place.
During this 15 day assignment, our consultants investigated and reviewed the following:-
- Conduct a sales and marketing gap analysis including both market and qualitative research on VSC’s ‘Dining Club’ competitors, existing sales channels and newly ‘identified’ markets.
- The previous two years of ‘events’ revenue, current sales processes and procedures, marketing budgets including ‘sales gaps’ in the current events calendar.
Output and Results
Our report to the VSC Board and trustees included a number of recommendations:-
- Although 80% of their events were from repeat business, we suggested recruiting a BDM which in turn would create a ‘pro-active’ sales culture, including the purchase of an effective CRM system.
- Re-evaluated the marketing budget and put in place a ‘measurement’ culture to assist the Club to utilise their budgets more effectively with markets that would deliver more ‘profitable’ events. i.e.
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- Selective corporates who had a stronger affinity with the Club’s ‘values and ethos’
- Devised a marketing strategy to fully exploit the Christmas, Conference and Training market place.
- Develop a Sales and Marketing business development plan identifying the potential income and value for each of those channels, including the best route for buying and penetrating these markets for the next three years.
Results in 2018/19
A year after submitting our Report VSC’s CEO informed us that although they budgeted for £850k, the events team delivered £1.1m partly due to implementing our recommendations and for the 19/20 fiscal they were budgeting for £1.3m.