5 Additional Ways For The Hospitality Industry To Curate More Revenue
The hospitality industry has been rocked in the last eighteen months, for obvious reasons. Many businesses didn’t make it, on a global scale. This is sad to recognize. However, like an unfortunate forest fire, the seeds may remain to create something new, and opportunities could be found despite the recent chaos and immense difficulty.
Curating more revenue as a firm engaged in hospitality or directly contributing to it (such as a brewery, or the sourcing farm for a restaurant), can be a great idea, expanding your potential chance of gathering customers and an audience willing to participate in what you’re selling.
This way, you not only get a leg up on the competition but have allowed tough times to streamline your output. This could potentially aid you in developing as a brand more easily, and seeing exactly where your blind spots may have been up to now. This is no small feat, but unlocking the value, goodwill and innovation of your firm in this way can only lead you to become a stronger entity, which is generally welcomed by most business leaders:
Selling Merchandise
Selling merchandise for a restaurant or brand can allow you to give your guests the chance to pick up a souvenir, while also spreading your brand name around. Caps, hats, bags, all of this could be sold in a side-on gift area that can influence those visiting the area to purchase and perhaps gift to their friends.
Furthermore, if they wear that t-shirt around the next day, more people may see that brand name and feel incline to drop in for dinner or to come check out your products. If you make sure that these investments are well applied and that the merchandise is quality, you’ll be more likely to make this a staple for those visiting your business rather than a side-on souvenir that no one really pays attention to.
Guided Tours
A guided tour can be a great idea for your business. For instance, a brewery might show the large tanks, how the brewing process takes shape, show the brewery washdown and drainage process, and offer sample sets for those coming to try the different products you offer.
This can be an educational effort that not only spreads the art of your chosen field more confidently but showcases just how much love and effort you put into your end product. This effort may also showcase just what kind of history you have and how it’s influenced your design. When someone has the experience of understanding your business and seeing how it operates, enjoying their time and feeling educated, they’re much more likely to come away and want to return to your brand time and time again. Of course, you can also charge for the guided tours ahead of time, perhaps for a party of individuals. This can help you offset the cost and labor in running these, as well as the surrounding measures such as health and safety risk assessments or the cost of sampling products.
Tasting Sessions & Lessons
Similar to a guided tour, it can be a lovely idea to offer tasting or sampling sessions and lessons to your establishment. For instance, consider a trendy bar in the inner-city. Despite the excellent location they operate in, they’ve been struggling to have people come and spend on those luxurious cocktails after Covid.
Yet what if they offered cocktail making lessons for groups of people? This could be a great way to make your space into a place where more events can happen, and from there, perhaps people will spend the rest of the night indulging in what you have to offer. Tasting sessions can also allow you to offset the price of standard goods but let your guests check out more and more of them. The most you can do with this concept, the better.
Special Community Promotion
A hospitality business is nestled in a community no matter what. Often, those that are remembered lean into this. For instance, when we think of certain brands, we think of where their goods were sourced. Tennessee whisky, for instance, or Guinness and its famous factories in Dublin.
But you don’t have to be as lofty as that. You can simply celebrate the best of your local culture. Getting involved in the local food festivals or providing your product there can be key. Ingratiating yourself in the local environment could be just what you need to appeal to people, to help people feel as though they need to support you as a local business (which is based on goodwill generated by your actions), and from there, developing your best ideal.
It’s not always clear to see what kind of special community promotion you should choose, because after all, some places aren’t like others. This is why researching into your local culture and leveraging how that works is important. For instance, if you operate a small bar near the ocean, but don’t source your seafood from the local markets, then there’s something flawed with the assessment of how to promote and engage with the environment around you.
Understand Your Audience
Similar to understanding your community is understanding the members of that community most likely to come and spend time at your place of business. It might be that most of your guests are tourists, and that’s totally fine. But how can you make sure that you appeal to them, and inspire them to come and visit your business?
Could it be that spending more time online with sites like Trip Advisor or the Google Business review page can help you respond to feedback, see what that feedback is, and implement it as appropriate? What are people asking for? What don’t they like? What changes are the healthiest to make? The more you can challenge yourself in this way, the better your entire outcome will likely be.
With this advice, you’re sure to curate more for the hospitality industry going forward.