Value is of course entirely subjective. It entirely depends on what’s going on for you and your circumstances as to whether something, some activity or some experience is of value to you. This means that whilst value for money remains vitally important in times of economic flux, the is the emergence of a new principle of value assessment – value for time.
We are all busy; we are all involved in multiple social circles and multiple functions; and we are all under financial pressure so our time becomes one of our most precious resources and therefore is the basis on which we make our decisions. How much of the things that are most important to me will I get for this time or this financial outlay?
When it comes to designing events then, we have to consider what is most important for our audience – is it about making things as easy as possible for them in ticketing, in access to the site, in getting around the venue, in experiencing the event, in leaving and getting home again? Is it about it being affordable or even a great deal (in their view)? Is it about it being an experience that they want and that their friends/social circles want? It’s all of these but the importance varies according to individual circumstances.
For us, it’s about putting ourselves into our customers shoes. If we are creating events for business owners, then the time of day when it happens it a crucial factor in generating the required attendance and that depends on the business sector we are trying to reach. For example, a hospitality networking event is best in the morning between breakfast and lunch service but it’s important to recognise that it will always be at the wrong time for someone. If that person then invests their time in the event, moving their work schedule around to accommodate it, then that event had better give them what they were coming for.
It’s about making promises clearly in our marketing material that we then deliver on the ground. More than this, it’s important for us to listen to our customers and attendees and respond to their perspectives on what is valuable to them so we refine our understanding and our events to be of increasing value to our customers whether in terms of time, money or experience.
Claire Eason Bassett, Managing Director, Mackerel Sky Events