Three Signs That It’s Time To Start Investing Again
The pandemic has had everyone in the entertainment industry looking for ways to re-evaluate, re-imagine and reinvent themselves—how they interact with employees, guests and the world. The industry has been catapulted forward, with technology driving innovation at accelerated speeds. Now that the global economy and travel is starting to open, what should owners be looking at so they can plan for the future of their business?
Here are three signs that it is time to resume investing.
- Attendance volume is up, pricing power is strong, people are willing to travel. Attendance is one of the most important indicators of demand. The more demand, the more price you can command. And when consumers are willing to open their wallets, it’s a strong indicator of consumer confidence.
- Your brand and guest feedback loop are a powerful combination. Guest satisfaction measurement is more important than ever. These first guests returning are your most dedicated and loyal. They will happily and willingly provide you insights if you give them the platform to do so.
- Your competitors are already doing it. There are many examples of both global and domestic investment picking up again.
In the end, those who don’t invest will get left behind. Consumers are growing more selective in how to spend their discretionary dollars, so it’s more important than ever to be the brand of choice. (Blooloop, 08.09.21)
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