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Reaching a stable customer base

Defining, attracting and retaining repetitive customers in the events industry

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Reaching a stable customer base

Defining, attracting and retaining repetitive customers in the events industry

Rechten:

Samenvatting

The following research justification focuses on the potential of Be Event Group to find and retain returning customers. As the company has experienced a transition period during Covid, it has now
changed its strategy to a differentiation strategy, while also looking to change its customer base towards more loyal customers. The research conducted for this matter is based on 6 information
gaps identified:
(1) the type of companies that might become stable customers for Be Event,
(2) management expectations of the new target group (stability and profitability),
(3) criteria for companies to choose their event partner,
(4) the events that are most likely to be appealing for the desired target group,
(5) methods of reaching this new target group, (6) methods of retaining this new target group.
This research considers an abductive strategy, which is a strategy that seeks to find the best explanation in order to highlight surprising facts identified in beginning of the research. (Bryman,
Bell, p.27) In this specific case, the research is structured into two different parts. The first part is represented by the exploratory phase, where the aim is to define the target group to be reached.
During this phase of the research, internal and external interviews were conducted, while the findings collected have been afterward verified using internal and external desk research. In the
second phase of the research, regarded as the applied phase, external desk research has been used to determine the best ways to attract the new target group previously identified, while
observations were conducted in order to understand how the company can retain its stable customers.
The results of this report have revealed that currently the potential stable customers for Be Event Group can be divided into four categories that can fulfill management’s expectations about stability
and profitability. Furthermore, interviews with the already stable customer of the company have shown that there are particular aspects that this type of companies are looking for in their event
partner, such as reliability and professionalism, while the events that are most appealing for the target group differ from a category to another. From the applied phase, it has resulted that the
company might attempt to target this new customer audience digitally and physically as well. Last but not least, the importance of special attention for retention has been determined, while the
observations conducted have underlined the focus points for the company. Based on the results achieved, four recommendations have been determined in order to help the company find and
retain stable customers:
a) Create an SEO Plan to address to and retain the new target group.
b) Increase awareness on social media
c) Consider account management on long-term
d) Cross-selling opportunities with Fletcher Hotels’ customers
While the former two recommendations concerned with improving the digital landscape have immediate applicability and are mainly focused on attracting the new audience, the latter two are designed to help the company towards maintaining a stable customer base on long-term. In conclusion, the above-mentioned recommendations aim to help Be Event Group aligning its customer base to their current strategy, therefore heading to a more stable business environment. The first and the third recommendation, as they are listed above, have been translated into the professional products that have been delivered to the company, in the form of an SEO plan and a Key Account plan.

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OrganisatieHZ University of Applied Sciences
OpleidingInternational Business
AfdelingDomein Business, Vitality & Hospitality
PartnerBe Event Group, Rotterdam
Datum2022-06-21
TypeBachelor
TaalEngels

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