How Business Analytics and Reporting Can Take Your FEC to the Next Level

The modern business has become a data-driven environment. Data has changed drastically in the last few years due to advances in technology, in this case family entertainment center technology, that has increased the amount of data there is to collect whilst also enhancing the ability to collect it. Smartphones are a great example of this, giving business all different types of information such as search history, locations, and personal data among other stuff too.

The pandemic has affected people, businesses, and industries in ways that no one could foresee. During these unprecedented times, it becomes much more critical for businesses to streamline business processes to mitigate the risk of the COVID-19 economic crisis.

The coronavirus pandemic is fast-tracking the trend toward a cashless economy as the fear of handling paper money contaminated with COVID-19 has led to a decline in the use of physical cash. Studies have shown that coronavirus can remain infectious for weeks on coins and paper money, making it clear that cashless payments are necessary rather than a nice to have - doing nothing is no longer an option.

Family Entertainment Center operators are always looking for ways to add value to their products and services to keep guests coming back for more fun. One of the easiest ways to do this is by setting up promotions that can help you drive return visits and increase customer loyalty. It's important to consider what type of promotion to offer, when to run it, and what you hope to achieve from it. Should the offer be a discount or a free game with purchase? Is it a one-time event or a long-term promotion? What are the goals: attracting new customers, optimizing guest experience, increasing revenue?

Source: CNN

We’ve distilled key insights Family Entertainment 2.0, Getting to the Other Side to help you rewrite your history with a better, stronger business operation for the consumer who awaits.

There isn't a single leader or business category unchallenged by the coronavirus; scrambling hard against the extraordinary demands to lead their business and teams through this crisis. Small businesses are struggling to stay afloat while implementing safety measures to mitigate risk, protecting their people, family and community. Resist being blinded by the massive scale of the crisis and consider the following: when business resumes, and it will, you need employees (talent is a key asset of Family Entertainment and Attractions; hospitality, service and care makes THE difference to any business). So, consider ways to retain talent by cutting company costs without cutting staff.

The coronavirus (Covid-19 pandemic) will change the way we do business, the way FEC's operate - and Embed wants to help you lead the way so you can future-proof your business, today. Right now, in the eye of the storm, you're in a state-of-emergency, focused on your very survival. You're not alone. But, astute business people know the opportunity is right here and now, to work smart in the short term (purely tactical) while working on their biz plan (all strategy) and getting their operation ready for opening day, when the crazy-cooped-up homebound families come out and play. Ready to hustle? Let's go!

Is putting up a CLOSED notice on your website and Facebook page really all you can do? Rather than be paralyzed by fear, focusing on cost-cutting, some companies are going into marketing overdrive. These attractions and FECs are not just showing they are “cleaning their venue”, but actually have quite innovative ways to engage with their guests, prepare for the inevitable return of their fun-hungry, socially-starved guests. Check it out!

“Those who understand the changes in customer demand and react with speed and enthusiasm will emerge stronger than ever from the crisis.” said Hermann Simon, a business expert in strategy, marketing, and pricing. Take QuarterWorld, a Portland arcade, as an exceptional example of understanding the changes in customer demand and reacting swiftly. They pivoted their business in a mere 24-hours!