Business challenge
Our clients, a retail awards host, has been running an annual event for 25 years, but had seen a decline in revenue over the past 5 years. They wanted to understand the drivers affecting attendance and purchase of tables at the evening ceremony.
What we did
We conducted in-depth interviews over the telephone with engaged and unengaged customers to discuss their perceptions of the event, including their views on return on investment (ROI), attendance and pricing of the event.
Outcome
Our findings revealed that attendance was largely driven by networking and branding potential. We therefore recommended that the host focuses on differentiating themselves effectively and enhancing consumer recognition of the event.
Willingness to pay was mainly driven by marketing budget and customer size. As a result, more options for table sizes and locations were identified to help push sales.