There's no denying the importance of Australian clubs. Throughout the nation, the industry caters to millions of members and employs thousands of staff. Clubs Australia reports that in tax alone, the Australian clubs sector contributes over $2.5 billion every year. This is all in addition to the strong social and community aspects of clubs, which mobilise volunteers, build relationships and enhance communities.
An enormous aspect of this is hosting events, a major part of running a club in Australia. With more than 6,000 clubs in communities across the country, there are countless functions held at these locations, and it's vital for these businesses to make the most of each opportunity.
Events provide much-needed revenue that can be reinvested in the community.
The importance of event revenue to Australian clubs
There are all sorts of reasons why hosting events is critical for clubs. First and foremost, they provide much-needed revenue that can be reinvested in the community in other ways, such as adding new facilities or refurbishing existing ones. In addition, the more events held, and the more successful they are, the more staff can be hired. Finally, hosting successful events is also a great way to boost the reputation of a club, positioning it as a leader in its area and a place where attendees want to visit.
Of course, running successful events and generating revenue is much easier said than done. Here at Barringtons, we know how important events are to the club industry, which is why we've put together a handy list of reasons why your revenue from this income stream may be stagnating.
Why your event revenue may be decreasing
The secret to successful events is your team. This is true for almost everything in the club industry, where employing the right people and providing them with appropriate training makes an enormous difference to revenues. Event management also happens to be a field that is experiencing a lot of changes, so even if you've got a great team, it's important not to become complacent and let technology pass you by.
A great example of this is customer profiling, which the most successful clubs are using to improve the quality of their service and better tailor events to the specific needs of their communities. Similarly, having staff that know how to harness the power of social media to market events can have a huge impact on your event revenues.
Embracing these innovations is great start for improving the success of events in Australian clubs. Check out the infographic below for a more in-depth explanation of six reasons why your event revenue may be stagnating, and get in touch with Barringtons for more information.