Event marketing

What is the right marketing mix for event marketing? | Small business

The marketing mix is ​​typically described using the four Ps: product, price, promotion, and location. When creating an event, using these four metrics helps you develop a festival, sporting event, concert, or other promotional activity that attracts the right people and gets your message across in the best possible way.

Product

Your event is your product, so you need to tailor it to the needs of the people you hope to attract. This means reviewing any ancillary activities that might take place before, during and after the event, including pre-event media days, contests or promotions on your website and social media pages, your registration process. on the day of the event, food and beverages, gift bags and t-shirt giveaways, spectator activities and post-event parties, awards and recognitions. Review competitive or complementary projects to see what they are doing in conjunction with their events. Survey potential attendees and hold focus groups to find out what would get them to participate and what price they’re willing to pay, if you charge a fee.

Price

If you charge a fee for your event in order to cover your costs or make a profit, create a budget that details all of your expenses. Include the cost of planning and advertising the event, rental of facilities and equipment, personnel, insurance, licenses, permits and fees, installation and cleaning fees, gifts, food and drink, sound system, and pre and post event marketing activities. Create sponsorship opportunities that help cover your costs. Subtract your anticipated sponsorship income, donations, and desired profit from your expenses to set your price. If you’re using the event as a promotional activity and won’t charge a fee, set sponsorship prices that will help cover your expenses. Set some of them low enough to attract sponsors who can make the event more attractive to attendees. This can include sponsorship of companies that offer free gifts to attendees or send a celebrity to the event.

Promotion

Using a detailed demographic profile of your target audience, choose print publications, broadcast stations, and websites to advertise to your target attendees, based on what they read, watch, listen to and visit. Create public relations and social media campaigns that start long before the event and continue afterward to maximize the benefits you get from the event. Promote the event in your business premises, asking your vendors and suppliers to do the same. If you have sponsors, ask them to promote your event on their websites and social media pages.

Place

Where you host your event and the activities before and after the event determine whether you maximize attendance. To choose the best sites, you will need to use at least three criteria. Start by finding the best places for your cocktails, media days, press conferences and the event in terms of on-site logistics. Next, consider how easy it is for your target audience to access each site, given the driving time, traffic jams, and parking. Complete your site selection process by choosing the best logistics locations that are easy to access and fit your budget.