This month saw the first increase in the price of a National Lottery Lotto draw ticket since it began in 1994 with the price of a ticket doubling from £1 to £2. Despite their best attempts to sugar-coat this news, the public reaction has not been favourable with one particular customer despairing, “I can’t afford £2 a go! They are robbing the poor of the one chance they have to escape poverty!”
However most predictions I’ve seen do not see ticket sales dropping dramatically or revenues seriously falling. Why? The answer is simple. The prize is large enough to justify the expenditure. People are willing to see if that 1 in 13,983,816 chance of winning could actually happen to them. “It could be you”, well thats the hope.They place their hope in the hands of Lady Luck.
Luck is all they have, and, unless someone knows something that I don’t, luck is the only way they can win. Now, whilst this approach is ok for playing the lottery, it would be laughable to use it in business. Who in their right mind would leave important details to chance? Surprisingly, it seems to happen all too often, but we in the events industry don’t have to leave things to chance. The key to lessening the impact of luck is knowledge, and knowledge, good information and the ability to report on an event are all vital contributors towards success.
For your event to be a success you need to know the numbers. For example, knowing how many people have registered will help you to effectively determine issues like staffing, catering and security. Knowing which sessions are the most popular will help you arrange adequate space and seating and also give you an idea of the sort of speakers and topics that your attendees are interested in. We have the technology and software to help us keep track of these sort of things. We don’t have to be surprised, nor do we have to haphazardly plan an event because we haven’t learnt the lessons of previous events. Leave luck to those playing the National Lottery because it has no place in event management.