New Revenue Streams for the National Maritime Museum Essay Example for Free

New Revenue Streams for the National Maritime Museum Essay Bishoff and Allen (2004) state that â€Å"most cultural heritage institutions are mission driven; their primary purpose is to support and promote the public good. † Just as The National Maritime Museum mission statement is â€Å"to illustrate for everyone the importance of sea, ships, time and stars and their relationship with people†. Swan (2012), explained in her presentation that â€Å"this is the largest maritime museum in the world which attracted 2. 45 million visitors in 2010 /2011 and 709. 000 visitors just at the National Maritime Museum alone†. Museum is the place for learning, education and socialisation. Sources that contribute to museums’ earned revenue include admission, gift shop, memberships, facility rentals and other variety of sources like private sector. Essentially, any product or service that is offered by the museum generates income. There is another form of revenue which is classified as unearned revenue. The main sources of unearned revenue are fundraising through individual donations and grants through any level of government. Hiring museum facilities for an event or filming is the best form of revenue. In order for the museum to remain financially viable earned revenues should be a fundamental part of the budget planning. There should be a dedicated team which is able to brain storm and look for new ways in how to contribute new revenue streams. Museum can be interesting to visit once if displays and exhibitions are not changed. As well as interactions and special events has to accommodate demand. Bearing in mind seasons, half term holidays or summer holiday is a good way start looking into additional revenue. Museum need to be creative and come to a problem from many angles at once. Advertising is an important revenue stream for helping businesses reach exactly the customers they want and increase value. Advertising can be through local newspapers at the whole Royal of Greenwich council and as well Lewisham council which is situated close by. Another form of advertising is to reach schools as through educational interest and possibility to cater this need. The leaflet or informational package can be distributed to local nurseries, primary and secondary schools. There is a pdf file available at Google website so hard copy must be available too. Another form of advertising is to develop or contribute to already existing mobile phone software application otherwise called an app. To develop the application can be costly but if the best interaction outcome can be achieved this could be the next step to advertise and market the museum. As Cooper (2012) spoke that† the task is to drive all sales and further interaction through website and media team is looking for new ways. † Smart mobile phones are widely used and are playing big part towards communication and interaction. It can serve businesses in local community and if new application is developed people will pay for it use and that is a new potential revenue stream. Another way to bring foot to the museum is to develop an additional source of technical interaction. As technology is spreading fast museums and other historical organizations need to follow new trends in order to be fashionable and appeal to various demographics. Swan (2012) showed in her presentation a ? 30 million re-development plan which was completed in 2011. With new entrance, substantial space for special exhibitions, an archive centre and upgraded visitor facilities this museum will appeal to wider audience due to his architecture and modern external look. The benefits in finishing re-development before Olympic Games 2012 give a possibility to welcome more visitors. This new entrance at the other end of the building will contribute towards visitor numbers as their will not need to walk all around to the font building to enter. To follow new technology is a good way to look into the future. One of the ways it can be done is through QR code which would be displayed next to the collected historical item. QR code online application would allow explore information via mobile phone or any other form of computerised equipment. QR codes are probably the newest version in delivering information and are most popular and flexible to use. Most businesses and individuals can interact with the museum due to their need in marketing campaigns through this premises or education. Audio guides who would deliver tour in few foreign languages as tourists are contributing highly in visitor numbers. Cooper (2012) said that Americans, Japanese, Russian, Chinese and Europeans are coming by coach in big groups, so additional language is seen as must have. Audio guides would contribute to better history understanding and at the same time there would be full interaction while at the museum. Without an additional language audio guides’ foreign visitors are not fully exploring the museum message. As this maritime museum is one of the largest in the world customer expectations are not achieved. Although Spanish, Russian, Arabic and other foreign languages can be found at the official website. For the museum to survive, their need to think of new sources of the revenue streams to obtain income. The National Maritime Museum has many activities based on educational and informational need. The interesting would be to find out how many schools are aware that this particular museum is providing interactive activities. The same would apply to local residence with young children. There are so many things to explore and do at the museum but people think that this is a place where they can get in touch with heritage by looking and reading at the displays. The museum is not the place to visit only on the rainy day. The National Maritime Museum is a very welcoming place and vide range of information can be found on their website. There is as well an interactive part were children with an adult help can make various things like sea monster mask or globe. Many interesting tasks in â€Å"Make your own† can be done at home but for the children of age 5-8 parents’ interaction would be needed. While further looking how this could be brought in to a promises the idea came to mind. Rather than having the tool in making mask or globe on line children could be doing it at the museum. There are no complicated tools or objects involved in the process and children would not be proud in taking an item home and sharing with their friends or siblings. This would as well show to parents that the museum is not just about looking at the material collected. Children at the age of 5-8 are particular excited in showing their achievements. The National Maritime Museum holds pirate day every Wednesday and Friday and there are six sessions between both days. This shows that there is an interest for schools to organise trips and bring children were they can become pirates for the day. Young boys and girls are very interested in pirates. As their imagination is full of excitement it can be further broadened by inviting them to dress up as pirate. Dressing up as a pirate would give them enjoyment and feeling that they are real characters. They can as well learn how to talk like the pirate or scrub the deck, a very hands on attraction. To achieve additional revenue to the museum, hiring the dressing up clothes could be beneficial. An example would be that just ? 2 of charge could bring around ? 120 a week and total annual revenue is more than ? 6000. This is of course if 60 children would come to this activity within the week. The dressing up outfits is not high in price and can be purchased at one of the local party shops. As pirate outfit can be urchased for around ? 15 so expenditure can be recovered in few months’ time. Another follow up using the same dressing up outfits is an idea which is designed especially for young pirates. Pirate children birthday parties can be educational and fun. While dressing up in pirate and exploring the interactive children’s gallery session and pirate treasure trail, children could have memorable event. There is Maritime History show once a week, which takes 45 minutes and cost ? 45 for up to 30 children. So ? 2 charge for costume hire will not be seen as an expensive addition to a day out. Those dressing up costumes can be used further by inviting children to have they birthday party at the museum. Providing birthday party package for the fixed price would bring additional revenue. Package would include invitations, pirate costume, packed lunch and beverage which can be served at the garden as picnic or at the premises at the upper deck depending on the weather and time of day. And cake which is a must have for every birthday party. Children birthday parties would need to be pre-booked as many birthday parties are taking place on the weekends and as Swan (2012) informed that Sunday is the busiest day a week. The National History Museum in London is providing similar services were children can experience the museum in the night. This idea is probably taken from the popular blockbuster movie â€Å"The Museum at Night†. There are not many places in the surrounding area to hold children birthday party which would appeal to wide age spectrum and provide educational as well as fun time. Ticketed entrance to a special exhibition. Museums often undervalue and under-price what they offer. Activities to under 5 years old This interaction would welcome local community people, to visit museum and see it as a place to learn and meet others. Many children and they guardians look for activities for children under 5. At this age they are interested in meeting new friends and learning new skills. So children who are not taken to nurseries or who has not yet started primary school need to interact and learn new ways in communicating and exploring the world which surround us. Special events with character appearances will contribute to visitor number. The museum already holds a music and dance activity for children under five. 30 minute interactive hand clapping and singing could be more fun if character appeared to read the book. This museum has flexibility in providing books about the sea, ships and stars which is their mission statement. The books can be covering educational aspect. As museum already has new library added to it, this to children gives flexibility to provide grate chance to introduce and develop historical skill. Information about people and their relationship with the sea and stars could be an inspiring experience and opportunity to broaden their knowledge. As from my own visit at one of those music and dance activity few years ago I remember that it was far too short and overcrowded by number of mums and children. Many parents spend 30 minutes on their journey to come and have another 30 minutes of fun. Younger children can lose interest and get board after long singing, but for older 4 to 5 years old this activity is too short. My thought on this would be to introduce art and craft activity. This is good way in teaching eye and hand coordination and children have something to take home. The art and craft activities can as well have a small monetary charge or donation, which would allow getting material needed. 3D crafts would teach children how to build ships or stars. The opportunity of 3D imaging can make all of these areas of museum activity a much richer experience. Historical images and written descriptions are not appealing to every child who is entering museum. So another way to attract interest in exploring history is through showing video footage. An example would come from five most popular collections of â€Å"Rear-Admiral Sir Horatio Nelson, 1758-1805 or The Return to Amsterdam of the Second Expedition to the East Indies on 19 July 1599†. Short visual video footage, in form of cinema, would provide feelings through history and symbolism of navigation and safety. And if that could be achieved through 3D visual experience it would provide even better understanding and give the feeling like they are actually involved at the battle. It would provide information why we need to look after the sea and why it is important. Utilize high school students as part of their work-term experience. Contact schools to encourage high school students to gain work experience through volunteering at the museum. Setting up a program of this kind could produce a predicable stream of volunteers and may decrease the need for paid staff. Book day Adult evening at The National Maritime Museum Drawing and painting classes are popular in terms of hobby or free time activity for adults. This would provide excursions to the Queens House and then take place at the upper deck at Maritime museum This is a good link in connecting art and history together. Adult only activities would need to be pre booked and would have small fee charge in order to provide equipment and tools needed in holding painting classes.