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coachella

Festivals, Farmer’s Markets, Conventions, oh my!

ultra-music-festival-week-1-miami-fl-2013
Ultra Music Festival – Miami, Florida

It’s summer and festival season is here.  Events are big business with over 87 million people attending trade shows, conventions, & conferences; while 32 million people attend music festival.  Some annual industry and market stats:

  • Trade shows, conventions, conferences
    • Number: 284,600 annually
      • There are 248 convention centers in the US with a total of 56.29M prime exhibit space.
      • The majority of conventions (21%) have 1,000 – 2,499 attendees
    • Participants: 87,728,000
      • Average attendee spends 8.3 hours viewing trade show exhibits
      • 81% of trade show attendees have buying authority
  • Music festivals, fairs, and other festivals
    • Number: 1,413 annually. Music festivals alone total over 800 annually
    • Attendees: Over 102 million people annually. 32 million people go to at least one music festival annually.
      • Attendees spend on average, $207 a year on live music events and digital music/streaming
      • 1/3 of all festival fans go to more than one festival per year
  • Farmers’ Markets
    • Number: +8,400 markets that convene regularly
    • Attendees: 310,800,000
      • Farmers’ market shoppers spend a mean dollars/week was $25.38
      • Shopper visit an average of 6.12 times/month

 

What It Means To You

Events are targeted.  So attendees are in your market, many in your target market.  Renting a booth, depending on the event, can be fairly inexpensive.  This is an economical means of raising awareness for your product/service for the following reasons:

  1. You are not locked into a commercial lease contract
  2. Can test the viability of your product/service
  3. Get targeted market feedback

Some of what you may need depending on the event:

  • Mobile merchant services such as Square
  • Email collection method
  • Banners and booth appeal
  • Ready-for-market product/service
    • Or compelling marketing materials (videos, images, samples) of your product/service.

Read more about festivals and marketing.

Contact me and let’s see what strategy works best for your business.

Coachella and Advertising

Sunset

Of course almost every company needs to advertise.  But where?  Targeted advertising is most effective.  So just put a sign at where your market hangs out (what’s “market”?  check out my article on some commonly mistaken business terms)?  You can put up a sign but it comes off as inauthentic and lazy.  You have to deliver the brand message/concept in a way that will be received.

H&M is sponsoring Coachella for its seventh year.  Premier music festivals can make over $1 million by selling stage-naming rights to corporate sponsors.  However, other businesses are getting on the ground-level and making for a more interactive experience.  One way is experiential marketing / promotional events:  Levi Jeans’ Pool Party at Coachella.  Yeah, you know it’s commercial but it still creates a positive association with the brand.  Yes, the same positive association used on all animals to create habits.  Habits = sales, if ingrained deeply enough.

Where do you find where your market hangs out?  Google industry trade shows, magazine, clubs, etc.  Selling knitting needles?  Find influential people on Pinterest and send them a sample.  Opening a bakery?  Go get a booth at the local farmer’s market and get to know those in the neighborhood.  In Supermensch: The Legend of Shep Gordon, Shep sold out Alice Cooper’s show in London by having a billboard truck advertising Cooper’s show breakdown in Piccadilly Circus (one of London’s busiest roadways) during rush hour traffic.  So for hours people helplessly saw in person and on the news, Cooper’s ad while stuck in traffic for pennies on the dollar!!!  There are only as many ways to promote your business as the imagination allows.

So don’t just spend a ton of money and blow it into the wind.  Do a ton of research and then inject that into a targeted promotion as part of an overall marketing campaign strategy.

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