We can’t put a price tag on the magnificent civic pride generated by the Oilers’ playoff run, but we can certainly measure the economic impact: a staggering $280 million.
More than a quarter-of-a-billion dollars! This impressive figure comes from an economic impact study conducted by Explore Edmonton, with data from the Oilers Entertainment Group.
Cindy Medynski, director of sport and culture for Explore Edmonton, highlighted in a recent Edmonton Journal interview that hosting the playoff games “really puts Edmonton on the map and showcases, at least in North America, that we’ve got a really vibrant and lively and engaged population when it comes to supporting big events.”
I couldn’t agree more with Cindy’s sentiment, especially when she emphasized the need to “keep building on that pride that was felt in the city.”
But how do we do that? How do we sustain this momentum? In economic terms, how do we capitalize on this pride? These are not rhetorical questions but urgent challenges. Consider this column a call to action and a challenge to all of us in the business community.
We need to coordinate business opportunities with our summer festivals more effectively. Edmonton is Canada’s “Festival City,” boasting more than 50 unique festivals each year, most of them in the summer. These include the Edmonton International Street Performers Festival, Freewill Shakespeare Festival, Taste of Edmonton, Afro-Caribbean Roots & Drum Festival, KDays, Edmonton Heritage Festival, Edmonton Folk Music Festival, and the Edmonton Fringe Festival, which is not only the biggest and oldest Fringe Festival in North America but, next to the original in Edinburgh, Scotland, is the second largest in the world
We need to do more than just cheerlead these wonderful events. We, as businesses, need to actively benefit from them.
Here are some actionable suggestions to make the most of the summer rush:
Prep Your Space
Take the time to spruce up your establishment. Well-maintained facilities make a positive impression on customers and enhance their overall experience. Ensure your front windows are clean and clear, and your street front is tidy. Think about the places you enjoy visiting – greenery, cleanliness, color, and lights all contribute to a welcoming atmosphere. Remember, beauty tells a subconscious story of success (beauty premium).
Staff Appropriately
Ensure you have enough staff to provide prompt and attentive service. Friendly and knowledgeable employees can leave a lasting impression on customers, encouraging them to return. Emphasize the importance of making customers feel like they truly belong, not just welcomed. This sense of belonging is a powerful driver for repeat business.
Engage with Visitors
Beyond simply promoting your business, actively engage with visitors by fostering a sense of community and belonging. Create a welcoming and inclusive atmosphere to forge long-lasting relationships. Remember, businesses get about 80% of their business from repeat clients. Make them feel welcome, and they will return.
Offer Specials
Entice customers with special offers and promotions. Consider creating themed menu items, drink specials, or exclusive discounts. Make it easy for customers to leave reviews with QR codes on receipts or small cards. Offer incentives like the chance to win a small prize for leaving a review on platforms like Google and TripAdvisor.
Promote the City
Train and remind your staff that they aren’t just selling your business, but also other businesses and the city. When someone comes in for lunch or checks into a hotel, ask them what brought them in. Then, sell other restaurants, a clothing store down the street, Fort Edmonton Park, the river valley, a festival. Every dollar spent circulates seven times, elevating the brand and story of the city. This leads to a stronger economy, more businesses, more visitors, more money, and so on.
Be Present Online
Amplify your business's presence by leveraging social media. Encourage visitors to share their experiences online and engage with their posts to show appreciation and build an online community.
By getting more involved in our summer festivals, businesses can help create a positive feedback loop where one promotes the other.
A word of caution: we cannot take the festivals for granted.
Last March, Edmonton’s beloved Fringe Festival announced it was in deep financial trouble. Even though the festival had another successful run in 2023 – returning more than $1.2 million in ticket sales to artists and pumping $16 million into the local economy – it had not recovered fully from a $3-million loss suffered from its forced pandemic cancellation in 2020. The festival’s organizers launched a “Sustain the Fringe” campaign to raise money from sponsorships and donations.
People responded.
According to The Journal, by the beginning of May, the Fringe grew its list of monthly donors from 34 to 290 – raising $100,000. The show, I’m happy to say, will go on. Edmontonians who supported the Fringe will support businesses that support the Fringe. That’s a positive feedback loop in action.
We cannot take our status as “Festival City” for granted. How do we keep the momentum going? That is my challenge to you and my call to action. Call me, email me, let me know what businesses can do and what you think the Chamber should do. Let’s keep the momentum going and build on the pride and excitement we’ve experienced. Edmonton’s future is bright, and together, we can make it even brighter.
The Member Blog.
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