Case Problem
Growing a Events Based Company in the Era of Booming Tourism in India.
We assumed that our Client named ABC EVENTS COMPANY wants to initiate and grow its business operations and be in the race with profitability with a considerable market share among others.
Opinion
As we have surveyed that there are many –
1. Venue Booking Websites and Apps
2. Vendor Booking Websites and Apps
3. Event Planners
But in the market, most of them have a very tight grip in the field in which they are operating mainly by the means of ‘references, and credibility’ for their past accomplishments and of course due to their specific USP.
Being ‘ABC EVENTS COMPANY’ a Startup, we need to create both ‘References, Credibility and a USP – Unique Selling Proposition ‘to get edge over others.
And by Startup, what we mean is high energy environment made up by their working team in order to achieve a same goal.
Now there comes the point what we are going to provide to our clients coming to us – which is basically the USP for us
Some of the Key USP – Unique Selling Proposition to develop it as a Brand
1. Attempt to enroll events for the Social Media Influencers whether it being marriages, occasional or Ceremonial ones. By Social Media Influencers, what we means are people who are in current trends for any reason on the platforms with any rank i.e, A/B/C Grade Influencers to be in trend. Benefits to this would be the Sponsorships, Credibility, Elite Client Base
2. Campaign – Premium and Niche brand-like advertisement to build credibility among first time clients. Benefits to this would surely be the Product Portfolio for Presenting in front of clients
3. Asking Referral for Corporate Events from the Previous Clients Base and Personal Networks at a Competitive Cost with Trending Product Inclusion.
4. Regular YT Shorts/ Instagram Reels (Paid Ads) on Trending Topics among Niche Audience to keep align with them.
5. For Destination Wedding in Dehradun / or any other Destination (Niche Specific Audience) – Generally we don’t have networks in every state or region > For that we need to run Niche and Geographies specific ads at specific times to make Viewers’ Conversion Rates into our Potential Clients up to 100%.
6. Hire Interns/ Contract Base workforce rather than FTE – Full Time Employee for Non-Core Activities. We should engage Theatre/ Dance/ Cultural and Fine Arts Societies from Elite National and States Universities and Colleges to perform in our events.
Benefits to this would be Exposure in real life Corporate Activity and brings Creativity to our events every time in line with the trending need of the hour. It also reduces our cost of giving pay to professional team to perform the same.
7. Made Tie-Ups with our Industry Competitors (In Non-Core Activities) to build out a huge network of their Well Doing Geographies to bring out a leverage and save time for us to focus on our core competencies.
The above written assignment is completely based and analyzed on Preliminary Survey as provided by our Client as per the current and past market research of the given business portfolio.
Practical Scenarios and Methodologies may vary according to real time data.
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Disclaimer : The above stated Case Problem and Opinion are subject to personal views and approach from a Layman’s point of view and may not stands pragmatic in real world scenario and thus may differ from person to person in their way of solving it. Enjoy the joy of writing and a stimuli of brain to it.
Deepak Sharma – BSc. Physical Sciences (DU), MA Economics (IGNOU), PGC Strategy (IIMB)
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