How do you ensure business sustainability in a lock-down situation?
Take the case of a business in the tourism industry during movement control period.
People are not traveling, hotels, restaurants, tourist spots are not operating. So, what can you do if you are in the travel industry, one of the most hit industry in a pandemic outbreak?
It is time for you to re-strategize your business and rebuild your base.
Digital medium is one of your gateway to sustainability, because high tech low touch is going to be the new norm.
Case Study: Digital Transformation of A Tourism Event Company
Count your blessings, not everything is locked-down.
This is how your mindset should be in the first place. First things first.
If you could give above statement a deep thought (video at end of this article), you might be coming out of the challenging situation better than your peers.
Life finds a way
Jurassic Park the movie
In this case study, we simply get back to the very basic of business:
Provide values to stakeholders, solve people’s problem.
Conventional event businesses hook up buyers and sellers. The million dollar question is:
Can this be done online? If so, how?
Look at the bright side, instead of limited to location, space, and hefty venue rental, now you can host virtual events, which bring these benefits:
- Border-less
One event, global reach out and border-less access. - Automation
As it is leveraging on the internet and technologies, most of the procedures can be automated and systematically operated. - Digital Realm
As it happens in the virtual world, you are not burdened by location-based issues and physical damages. - Lower Cost
Looking at savings from venue rental, food, operational team size, risk management etc, a digital event has a comparatively lower cost yet potentially higher return, for every stakeholders. - Content Marketing
Unlimited re-use of digital content at near 0 duplication cost. The content produced can be used over and over again, just like the movie and audio industry, as long as the content is evergreen and of universal value.
Many things can be done and values can be created at almost every phase of the virtual event.
- Pre-Event
- Event
- Post-Event
The sky is the limit. The world is your oyster.
Together for a better future.
Note: This is part of the content of the book Global Goals: Every Achievement Counts. The case study here is on Sustainable Tourism Virtual Talk Show.
