FECM 205 Promotional Marketing for Your Event Week 6 Jannett Ioannides, CAE

Objectives For Today 1.Review of Where We are 2.See What You’ve Got 3.Introduction of Promotions – Promotions Defined 4.Understanding Promotional Objectives – Why? 5.Fitting into the Event Life Cycle – What to use when? 6.Push Vs Pull Promotions 7.Event Promotion Ideas – Commonly Used Techniques 8.Alternative Promotions 9.Building Your Promotion

The Final Element of Your Events Promotion Mix Promotional Marketing Mix elements covered so far this term: 1.Advertising & Specialty Advertising 2.Website & Electronic Tools 3.P.O.P. 4.Public & Media Relations 5.Collateral

We have previously discussed 3 outcomes needed for an effective Promotional Campaign 1.Outcome 1: Your promotional message reaches your intended and targeted audience. 2.Outcome 2: Your message is understood by your audience. 3.Outcome 3: Your message stimulates the recipients and they take action.

Review of the 7 Steps In A Promotional Campaign 1.Step 1: Assess Marketing Communication Opportunities. -examine and understand the needs of your target market. Who is your message going out to? 2.Step 2: What Communication Channels Will You Use? -deciding which communication channels most beneficial. -will you use personal communication channels; face to face meeting, telephone contact, personal sales presentation Or non-personal communication; newspapers, magazines, promotions or direct mail work better? 3. Step 3: Determine Your Objectives -promotional objectives stated in terms of long or short-term behaviors by people who have been exposed to your promotional communication. 4.Step 4: Determine Your Promotion Mix -allocate resources among sales promotion, advertising, publicity, and personal selling -create awareness among your buyers for promotional campaign to succeed. - well rounded promotion will use all these methods in some capacity.

Review of the 7 Steps In A Promotional Campaign 5.Step 5: Develop Your Promotional Message - sit down with team and focus on the content, appeal, structure, format, and source of the message -keep in mind in promotional campaigns appeal and execution always work together. 6.Step 6: Develop the Promotion Budget -must determine the total promotion budget 7.Step 7: Determine Campaign Effectiveness -need to determine how you will measure the effectiveness once implemented

Promotional Exercise Part 1 If We Could Do Anything! In A Nutshell: You will compete in a mock contest to come up with ideas for promoting your product to generate sales. Time: 14 minutes What You will Need: 1.Get into groups of 2 or 3(total of 8 groups) 2.Draw to get your business name & product line 3.Flip Chart Paper & Markers What To Do: 1.You have been given a fictional business to represent and work to come up with promotional ideas. 2.The purpose of the exercise is to come up with 3 ideas that will promote the business and offer something special to customers. 3.With your current understanding of promotions, be creative and come up with 3 promotional ideas. 4.There are no budgetary restrictions, but your submissions must be “reasonable”. The ideas must relate to the business

Promotional Exercise If We Could Do Anything! Eg. Name of the Company: Millennium Bank Line of business: Banking Idea #1: We are going to offer free checking for life to every 200 th person who signs up for the Millennium checking or savings account 1.You will have 14 mins to complete your ideas and a presentation will follow 2.We will then vote on the best idea

Includes activities other than advertising, brochures, website, public relations that attempt to stimulate consumer demand and increase ticket sales Event promotion involves communicating the image and content of the event program to the potential audience Seek to accomplish several broad objectives and can be used for 1.Increase audience/target market awareness (especially in the target community) 2.Introduce new events, festivals, products and services 3.Increase sales volumes (audience & sponsors) 4.To combat competitors actions 5.Encourage increased purchasing & sales 6.Stimulate demand during slow periods Turning intention into action – ensure the consumer makes a decision to purchase and follow up with the action of actually making the purchase (tickets) Event Promotions defined:

How Can Promotions Be Applied? m/watch?v=RFbN9W GJt_8&feature=related tch?v=o2Hif9RjhPk&feature =related

Promotional Objectives 1.Increase audience/target market awareness (especially in the target community) –First step in attracting new audience or customers to event –Must stimulate interest and create desire to act on the interest –Advertising does this as well, but a targeted promotion helps turn that awareness into consumer purchasing action 2.Introduce new events, festivals, products and services –Corporations & Associations launch new events, festivals, products & services on a regular basis –Best way to ensure target market aware of these is to initiate a special promotion t draw attention –Create interest – trail purchases or bonus, stimulate demand

Promotional Objectives 3. Increase sales volumes (audience & sponsors) –Increased competition for attendees time and money –To increase market share you may need to divert and take business away form competitive events –To accomplish, necessary to feature promotions offering a better deal or greater value than the competition –Spread the word 4.To combat competitors actions –If loosing business to competition, may be forced to match their offers or add a promotion of your own with a new twist –Create a loyalty program f sorts – reward frequency

Promotional Objectives 5.Encourage increased purchasing & sales –Increase sales by offering bundled packages – attendance plus seminars plus tradeshows etc. – creates value as well. –Promotions can be used to encourage to trade up to more expensive products, services, event elements by offering discounts on more expensive components 6.Stimulate demand during slow periods –Events have slow periods/times/days of the week –Promotions can be used to increase traffic during those times – remember to review the needs of your target audience

Advertising, collateral, websites need to work together with any supporting promotional activities All of these functions need to be managed & balanced carefully Promotions is one component of the marketing mix that changes over the life cycle of an event 1.Intro Stage: Main focus in this stage is to inform potential audience & consumers – CREATE AWARENESS & Build attendance volume & Try Us Discounts Door Prizes, coupons, partnerships, referrals, contests, raffles How it works with the Event Life Cycle

2. Growth Stage: Main focus on building name recognition for the event or festival and convincing new audience consumers to attend PROMOTIONAL Objective must be twofold: a)Reinforce & remind audience members to patronize the event – induce repeat patronage b)Reach new audience members who have not patronized the event – thereby expanding volume with significant number of first –time attendees How it works with the Event Life Cycle

3.Mature Stage: Main focus to maintain attendee base or grow it thru merging of events or festivals –Coupons & discounts very popular in this stage (“New this year…”) –Coupons or discounts - Distribution thru mailers, advertisements in publications, on website –Help increase audience counts –Coupons or discounts should be short-term inducements to purchase – not meant to be long term How it works with the Event Life Cycle con’t

4. Decline Stage: Main focus to revitalize event/festival or launch a new format –Promotions used sparingly if you get to this point as evaluation of continuing event being reviewed How it works with the Event Life Cycle con’t

Push vs Pull Promotions Push Promotions Used when marketing wants to push the product-service mix through the events delivery system or C.of D.’s Suppliers creates demand for consumer to want it Encourages increased sales and consumption by consumers Eg: –POP displays –Advertising & Co-Op Advertising –Traditional & Electronic Collateral materials Pull Promotions By contrast is aimed at stimulating the audience or consumers interest and having them pull the offer through the C. of D’s Builds consumer demand to supplier – we WANT it Puts pressure on the event to supply the product or service most in demand by consuming audience Eg: –Sampling –Discounts price reductions –Coupons –Combination offers or bundling –Premiums or Specialty logo’d Advertising products –Contests, sweepstakes, raffles

Event Promotion Ideas  Direct Mailings  Samplings  Prizes & vacations & trips  Discounted entrance coupons  Raffles  Telemarketing – local fundraiser calling potential benefactor & community leaders to enlist their support for the event  Street Demonstrations  PSA’s  Cross Promotions  Stunts  Coupons & Discounts  Combination offers or bundling  Premiums  Bundling/Combination Offers Work with your other event communications & media elements to enhance them

Types of Promotions – What Kind? Ideas? be.com/watch?v =fnmd6qGb974

Most Commonly Used Techniques 1.Coupons 2.Samplings 3.Premiums/Specialty Advertising Products 4.Contests & Sweepstakes & Raffles

Most Commonly Used Techniques 1.Coupons – primary objective to stimulate trail of event at a reduced price, encourage multiple purchased and generate increased sales –Advantages: represents tangible inducement offering savings or benefit Time limited price reduction to create sense of urgency – will not affect profit margins in the long term – pre-selling Can be used to accomplish specific objectives – boosting sales during weak periods –Disadvantages: Can be used to defraud - substitute cash for coupons Redemption rates hard to predict – what is the true value of the coupon

Most Commonly Used Techniques 2. Samplings – used to encourage trial of new events or festivals – if they like it they will be more likely to buy it –Advantages: Gets consumer to try the product before they commit Represents value to the consumer – think they are getting something for free Attend free sampling of speaker, or try the featured food –Disadvantages: Can be expensive to give away products if done for an extended period of time If food – ensure it is fresh – perishability can create a negative impression

Most Commonly Used Techniques 3. Premiums/Specialty Advertising Products – giveaways – used to bring in new attendees, encourage frequent visits (come 3 times and get..) and to build positive word of mouth –Advantages: Consumers like to get something for nothing or for a good price – builds goodwill, especially if premium/giveaway highly valued (can come from sponsors or your partners too) Clever or unique giveaway can build positive word of mouth as audience share where they found it Include logo on giveaway (premium/specialty ad product) – message remains in front of consumer at all times –Disadvantages: Storage & handling can be challenging if large or bulky Staff may take premiums for their own use Quality of premium/giveaway must be equal to expectation created Anticipating quantity may be difficult – sufficient inventory key

Most Commonly Used Techniques 4. Contests, Sweepstakes & Raffles – used to increase number of customers and build market share – consumers love the game of chance (especially if it supports a worthy cause) –Advantages: Consumers more involved in process due to element of skill & thinking required – presents an opportunity to create & support lasting positive image (contests) Those who enter have shown interest in what your offering and more likely then to attend Entry can be easy (sweepstakes & raffles) – names & addresses can be used for mailing lists Focus attention on prizes Selection of winner (especially sweepstakes & raffles) can be easy –Disadvantages: Some difficulty in judging entries because criteria can be subjective – judges (contests) must take it seriously as contestants do Rules & Guidelines can be lengthy and turn participants off Entry Box can get ‘STUFFED” – rules should prohibit mechanical reproduction Individual chances of large prizes small and audience could get discouraged

NEW IDEA PROMOTIONS – Alternatives to the traditional (Also known as Guerilla Marketing Promotions) Unexpected and unconventional; potentially interactive and consumers/audience are targeted in unexpected places. Create a unique, engaging and thought-provoking concept to generate buzz, and consequently turn viral 1.Street promotions - relies on time, energy and imagination 2.Reverse Graffiti — clean pavement adverts 3.Viral marketing — through social networks 4.Presence marketing — marketing for being there 5.Grassroots marketing — tapping into the collective efforts of brand enthusiasts 6.Wild Posting Campaigns 7.Alternative marketing

NEW IDEA PROMOTIONS – Alternatives to the traditional (Also known as Guerilla Marketing Promotions) 8.Buzz marketing — word of mouth marketing 9.Undercover marketing — subtle product placement 10.Astroturfing — releasing company news to imitate grassroots popularity 11.Experiential marketing — interaction with product 12.Cross Promotions – partners to mutually promote each other 13.Stunts – designed to generate media coverage & attendance by spectators 14.Guerrilla marketing promotions - initially used by small and medium size (SMEs) businesses, but it is now increasingly adopted by large businesses. WHAT OTHERS CAN YOU THINK OF??????

Promotional Exercise Part 2 If We Could Do Anything! In A Nutshell: We are once again competing in a mock contest to come up with ideas for promoting your product to generate sales. Time: 18 minutes What You will Need: 1.Get into groups of 2 or 3(total of 8 groups) 2.Draw to get your business name & product line 3.Creative Arts and Crafts Material Present on the table What To Do: 1.You will use the same fictional business given to you in the 1 st part of this exercise to work on and develop promotional ideas. 2.Revisit and revise the 3 ideas you created in Part 1 to promote the business and offer something special to customers. 3.Using the promotional ideas discussed today, be creative and come up with 3 GREAT promotional ideas.

Promotional Exercise If We Could Do Anything! 4.There are no budgetary restrictions, but your submissions must be “reasonable”. The ideas must again relate to the business You will have 18 mins to complete your ideas and a present We will then vote on the best idea

So In Review: Developing A Promotion - Calls for Careful Planning 1.Select the target audience for the promotion – Your event audience 2.Establish specific objectives for the promotion – S.M.A.R.T. 3.Select the promotional technique – which would work best 4.Brainstorm about the potential offer – potential appeal and potential results 5.Create the promotional theme – be creative, captures interest?, carry thru all elements of the event 6.Develop the promotional budget – include internal & external costs – projected impact 7.Select the media & vehicles to support the promotion – hand in hand 8.Develop your implementation timetable – specific dates outlined 9.Conduct internal training for the staff – ensure all aware of the promotion – build up the excitement 10.Work the plan – JUST DO IT! 11.Monitor results – compare to objectives

Wrapping It Up! om/watch?v=lZFhh5l t9Qs

Some Video Promotional Ideas – Food For Thought – Chili Event street promo – Apprentice street marketing – Snickers in China – Ikea dance marketing – Swine flu street marketing – Stunt – Oslo piano

Objectives Achieved Today 1.Reviewed Where We are and What We know 2.Introduction of Promotions – Promotions Defined 3.Understanding Promotional Objectives – Why? 4.Fitting into the Event Life Cycle – What to use when? 5.Push Vs Pull Promotions 6.Event Promotion Ideas – Commonly Used Techniques 7.Alternative Promotions 8.You Built Your Own Promotion