For many venue managers, event organisers and sports administrators, the marketing managers are the rain makers; the creative ones that generate the ideas and win the business. For operational staff responsible for implementing these ideas, the marketing managers are sometimes perceived as the ones who create the risks which they have to manage. Yet every part of the business has risk and marketing managers of venues, events and sports have many strategic risks which can impact their success.
If the five basic steps of successful marketing are:
In each case there can be threats to achieving these strategic objectives. For example, a marketing campaign that raises awareness but fails to connect with the purchaser’s needs, is likely to fail. In the same way, a marketing campaign that arouses interest but then expects to secure large scale purchases or repurchasers without a trial and single purchase, is also unlikely to succeed.
The list of possible threats and indeed opportunities to any marketing campaign are an important consideration when combing marketing in event management, venue management or sports administration with Event Risk Management or Enterprise-wide risk management (ERM). These represent some of the terms of reference for identifying the marketing related risks, and are those which should be considered, documented and mitigated by the marketing manager.
For more information on Event Risk Management and Enterprise-wide Risk Management in venues, events and sports, contact us at [Win please put the Reliance Contact Email link here].
Wayne Middleton
Principal
Reliance Risk Pty Ltd
Level 2, 2 Barrack St
Sydney NSW 2000
PO Box 1777
Bondi Junction 1355 NSW
AUSTRALIA
M +61 (0)407 493949
P +61 (0)2 9299 0909
F +61 (0)2 9262 3985
W www.reliancerisk.com
