The Five Ps of Event Marketing

1. Product

2. Price

3. Place

4. Public Relations

5. Positioning

1. PRODUCT

The successful event marketer is at first the consummate student of his or her product. The product may be an educational program, a county fair, or a full-fledged convention. It may be a reunion for a fraternal organization or a corporate product launch. If you are marketing the event, there are essential elements as shown in Figure 1-4 that you must know and questions you must ask of the event sponsor.

1. What Is the History of the Event? Many veteran marketers will attract participation because they can sell the celebratory essence of the event. "The 50th Annual Conference" proclaims the success and venerability of an organization, as well as the pride that goes with being part of it. But even if there is no history, there is the opportunity to be historical. For example, "The 1st Annual Conference" will have no history, but can be portrayed as an opportunity to get in on the ground floor of a "happening" that participants can infer will be an ongoing event, turning into a tradition and developing long-term loyalty. The greatest part of event marketing is the opportunity to create history, by attracting people into a synergistic activity that can define the organization and its goals.

A major association recently celebrated its 10th Annual Educational Conference. The event marketer positioned his promotion with the theme "The Power of 10." Ten major prizes were to be awarded. The 10 top-ranking speakers from previous years were to be invited back to present seminars and to be honored at a general session. Ten lucky attendees would be presented with compli mentary registration for next year's event. And so on. The simple concept of 10 years of success was themed throughout the marketing mix. The celebration of history is a fabulous promotional asset in whatever way the event marketer wishes to interpret it for the audience.

2. What Is the Value of the Product? Marketing an event requires that the message emphasizes the manner in which the participant will benefit. The promise of increasing productivity, maximizing profitability, or simply having a great time can be legitimate benefits that can persuade a person to buy the product or attend the event. Later in this text, we will discuss the science of studying demographics and determining audience needs. Designing an event with that research in hand and effectively describing how that event will fulfill those needs are keys to effective marketing.

3. What Makes the Product Unique? What makes this event different from others? Why should one choose to invest time and money in this event, as opposed to the competition that surrounds it? Marketers that can identify the return on investment (ROI) that can be expected by the participants, the special experience that will be offered, and the added value of attendance are those who will successfully market the event. This will require research into the markets and into the objectives of the client or organization. Only then can the uniqueness of the product be identified and described in all of the marketing media utilized.

Continue reading here: Entertainment

Was this article helpful?