The Challenge – to investigate and propose opportunities to rebuild a commercial revenue stream.
Background – with the majority of income generated from grant funding and donations since 2020, due to the impact of the pandemic restrictions, TCR The Hub found their organisation had become mostly community service driven with employed staffing supported via available project funding ‘pots’.
Community support and interaction is at the heart of TCR The Hub and the team that deliver within the community. However a reliance on funding and donations had created a less stable and sustainable position for the organisation going forward, due to reduced funding contributions and greater competition for those that are available.
What Happened First
Being local to TCR The Hub, I already had some knowledge and experience of what was on offer, both on a funded and paid for offering. I started with information gathering about what activities had been offered in the past, as well as what opportunities the team thought could be commercialised, in terms of currently funded and brand new initiatives.
The fact that TCR The Hub has so much to offer in terms of the building, the grounds, and activities, it was going to be a challenge to identify commercial opportunities that could be realised without compromising the services currently on offer or the staff who were already fully utilised.
Research began with group idea generation sessions with staff, as well as attending internal meetings and the AGM, to get a feel of what had been tried before, what had been successful, and what had not performed, as well as offering an opportunity to receive ideas from all members of the team, regardless of their respective positions and involvement.
It was important, given that many of the team are front-line to the community, to understand what interests the community had, what proved a requirement, and what feedback had been received in the past with regard to paid-for activities.
In addition, market research within the region was carried out to compare similar organisations, offerings and pricing, as well as a website and digital marketing overview.
What Happened Next
Once all the research had been collated, customer segmentation and associated activities were identified, with a snapshot of the current commercial situation also being assessed.
By understanding and getting to know the team through the idea generation sessions, the values of the organisation, a mission statement and value position, highlighting the benefits of the organisation to these specified target audiences, were identified and recorded, something that had not been done before.
Supported by a competitor overview and pricing comparisons, the report produced a comprehensive document that not only highlighted the current scenario, but also documented TCR The Hub’s market positioning and areas where commercial initiatives could be implemented, offering a model of the commercial benefits that could be realised as a result of the proposal..
As mentioned, there was a high level of complexity as to the priority of initiatives due to the already well committed venue and staff to the community services being delivered, but also the fact that the organisation offered so much; for example, residential, wedding venue, outdoor and indoor activities, minibus hire, room hire, and a cafe.
The main consideration with any proposal had to be that the opportunities did not detract from the community services already being delivered or become onerous for the staff to deliver, given their already assigned fully utilised roles.
In addition, any proposal had to minimise any upfront investment required for equipment, due to the lack of budget available for specific commercial initiatives.
What Was Delivered
A detailed report stating the current positioning of the organisation in terms of commercial revenue, marketing, and what was required to be delivered from a commercial proposition to meet the target revenue per year.
A menu of opportunities was presented, incorporating a mix of commercialised funded initiatives and new commercial activities, including priced propositions for key areas of the organisation, such as residential, outdoor activities and a straightforward ‘off-the-shelf’ wedding package.
The opportunities identified over delivered by 150% of the identified required commercial target, based on a full 12 months deployment, and with the appropriate support of a Commercial/Marketing Manager to lead the initiatives and ensure the required levels of execution of marketing, sales and experience.
5 key areas of the organisation were highlighted to be the most opportunistic; outdoor activities, room hire, accommodation, family-focused activities, and events, with activities proposed for each, as well as a guide to marketing content and deliverables.
The conclusion of the report was that reuniting and driving forward a commercial revenue stream for TCR The Hub was achievable with a number of initiatives highlighted as priority.
However, for this to be successful and deliver to expectation, a dedicated resource in the form of a marketing manger, ideally with some commercial experience, would be paramount to ensure success, delivery and minimal draw on current time and staffing resources.
The Client’s Response –
“My team and I are so impressed with Jo. She recently worked with us on a consultation project looking at our commercial sustainability and the relationship this has with our charitable services. Jo produced a comprehensive but very user-friendly report, which evidenced her research and also conclusions and recommendations for us to carry forward. Jo was a pleasure to work with and I would recommend her services to fellow businesses, both in the private and voluntary sector.”
Rachel Tweddle, CEO Teesdale Community Resources
Demonstration of initiatives contained within proposal:
