COVID-19 is still sending waves of closures around the world. Not only has the pandemic caused widespread disruption in the manufacturing industry and caused significant dips in stock markets, but it has also had many events and concerts delayed. Additionally, there are many businesses in fear of their online reputation as a result of something they have no control over. There is extensive concern from eventgoers, companies, and employees alike as to when we are going to return to a semblance of normalcy.
During these troubled times, many companies are being encouraged to ascertain how to get employees to work from home. Likewise, companies need to decide how to deal with cancellations with the closures of many businesses and events. As early as April, many events were announced to be postponed until 2021 or later. In other words, these venues will be withdrawn until further notice. There are many businesses that only make money based on what revenue they can collect during these conventions. They provide a product for minimal fees and depend on merchandise sales to make them more profitable. So, these closures are disrupting more than small businesses.
This brings me to the crux of the blog today. What can you, as a business owner, do to ensure that you do not lose profits in the wake of the globalized pandemic? I am assuming if you are here, you are looking for some ideas as to how to ensure that your customers are maintained and adequately happy with your pandemic response. Below, you will find several ways that you can supplement your venues while adhering to the strict government guidelines of social distancing.
Digital Era
We live in a fortunate time where most of the world has access to the internet and other cyber platforms. My suggestion here is that a determination is made as to whether hosting a digital event will be profitable and even possible. There are some industries that will not be able to use this as a viable option. Off the top of my head, live music industry, theatre industry, and the airline industry. While there could be arguments made that the music and theatre industries could host digital events, the problems arise when you consider how to limit the number of people viewing the show. There could be a particular room they could all go and watch the event of their choice, but they could also have fifty other people in the room. Whereas when they are at the theatre or concert, only persons with tickets are allowed to view the show.
As for venues that can be held on the internet, many businesses are going to great lengths to make them a reality. The most ingenious idea I have heard of is companies holding virtual running events. They do this by having the applicants download an application on their phone or other mobile devices. They will then complete the run distance in the area of their choosing and submit their time. While this isn’t exactly perfect, it is a way to have participants continuing to do the things they enjoy doing.
Another way to effectively hold your event is to make it interactive. There are many companies in the gaming industry that are being heavily impacted by the cancellation of conventions. In case you are not familiar with gaming conventions, they are events that happen, usually on a three- or four-day weekend, that gather fans from all over the world. They get together for a long weekend of socializing with other gamers, merchandise purchases, and partying into the wee hours of the morning. Not only does it bring revenue to the venue, but it gets much-needed money to the cities that host the event.
Recently, Minecraft held an event called Minecraft Live Livestream. They used a studio where the location was sterilized before and after their event. Additionally, they had a lot of remote speakers that worked from the safety of their own homes. It has only been a couple of days, but currently, there are no reports of anyone having or contracting the virus from this event. Another convention that will be happening digitally is PAX. They canceled all of their live events and opted to have it open to everyone with internet access. To augment their revenues, they have been having special purchases for a week at a time. When the event is live, it will be nearly two weeks of guest speakers around the world. They are also setting up a virtual concession stand where users can browse the wares of many Indy game designers as well as make purchases from them securely.
Conclusion
Living in a digital world has made this pandemic easier than ever to handle. There are some industries that are having difficulty maintaining profits. However, there is a lot of innovation, and with any luck, they will be able to find something they will be able to do to supplement the loss of profits. While digitally hosting events is not perfect and is coming with many problems, it is something that people understand. When businesses change their format to be accessible to people that cannot physically attend, it shows the people they are essential, and the company is still thinking about them. With any luck, this pandemic will prove to the world that you do not have to be at a location to enjoy these events physically. In years to come, I hope that this is just a gateway to make venues available to people who cannot otherwise attend. Many people with mental and physical problems are unable or unwilling to travel to various locations to enjoy events that are meant for them to attend physically. They may not be perfect now, but they will become as flawless as attending the show live and in-person with time. I wish you the best of luck in dealing with your canceled event and hope that you can find a way around this snafu and become more profitable than ever before.