PW-MAR20-30-33-Industry-Influencer.qxp_Feature 30/03/2020 17:19 Page 33
Industry Influencer
www.parkworld-online.com
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may have a problem because they are not getting cash in. Bigger companies are going to survive because there will be a pent-up demand that’s going to be building and so when things return to normalcy, they will come roaring back, whether that’s fast enough for some of the smaller parks …… some may suffer and perhaps be bought out. I’m sure there may be some re-organisation and maybe some consolidation; I think it’s possible to say that at this point. I realise that getting from here to there is an unknown and that’s the problem.” When times are tough, one of the first thing businesses cut
is their marketing budget, but “now is not the time to stop marketing,” says Frank. “Marketing is the thing that investors from outside of this industry understand the least,” he says, adding that building a new park is much more complicated
than your average real estate project. “You are not building a municipality you have to have an aggressive marketing programme out in front of everything you are building. We have a philosophy and that is that you have to start marketing a year prior to the opening of your park or attraction.” Parks that are temporarily closed as a result of the
pandemic should also look to keep guests engaged by talking about what’s coming up. “It’s important to do whatever you can to stay in contact with your client base, your customer base, your visitor base. Maybe you can bring them short videos of what the park has in store for them when this is all over, to show them that once this crisis ends, this is what’s going to be waiting for them - I think that’s very important.” “Every project has it’s challenges,” says Frank, “when I was
MARCH 2020
Supplemental content provided by: Norm Elder, Norman J.T. Elder and Associates
Frank is one of the executive advisors to The Producers Group working on strategic and business case consulting. “We have a network of advisors who we ‘cast’ in roles according to the needs of project – and I use the term cast because casting implies you choose the experience and perspective of the expert for the role - It’s a Disney term. What this essentially does is maximise the value for the client,” says CEO Bob Chambers. Park World is teaming up with TPG to produce a webinar on strategic
planning and development during the crisis. Bob and Frank will be joined on the panel by other TPG advisors, all high-level industry executives. Not to be missed, the date will be announced across our digital channels in the coming days. Visit
www.parkworld-online to sign up for our weekly newsletter and follow us on social media @ParkWorldMag.
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We have a
philosophy and that is that you have to start marketing a year prior to the opening of your park or attraction.
younger, I used to sail and when sailing toward an destination you used ‘triangulation’ to plot your course using not one point of reference but multiple points (usually three) to reach your destination. Thus, I applied the same process to business methodology and negotiations if one direction was not providing the answer, try a different point of approach. That’s always been my strategy. “I think it’s very important to have a positive attitude even in
the difficult circumstances. In conclusion, I repeat, that in these uncertain times those who move forward with their projects will gain the initiative over those who wait and be positioned to capture more than their market share when the cycle of uncertainty ends and tourism and visitor growth returns.”
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