All the event needs its audience. Without attendees, there would be no event. Marketing is the function of the business, which will bring the audience and money for the event.
Marketing is not the art of finding clever ways to dispose of what you make. It is the art of creating genuine customer value.PHILIP KOTLER
Let’s understand the 5 P’s of marketing in the context of Event management:
PRODUCT: Here, it refers to the service provided by the event organizer. The audience needs to understand the features, advantages, and benefits of attending the event. Think about the key features, benefits, and the needs and wants of customers while thinking about the event.
For example, Apple does not just sell iPhones to its customers; it also sells the whole experience and convenience that comes with their product.
PRICE: Pricing strategy directly affects customers. It includes the selling prices of the ticket, as well as discounts, subscriptions, and referrals. When determining the rates, keep your business’s position in mind. ‘High Quality’ services often cost more.
For example, Prices of mass events like fairs are lower than the prices of specific events like dance workshops.
PROMOTION: If no one knows about your event, how will they register for your event? There it becomes necessary to promote your event. While promoting, you must calculate each customer’s value and the cost of acquisition for each customer to run a proper promotion. Social media, blogging, online advertising, and event billboards are some of the ways of promotion.
PLACE: This part is concerned with ‘where’ does your audience see your services? Your events must be accessible to the customers at the right time and in the right place.
For example, earlier durable products were only available in the physical stores, but now they are also available online.
PEOPLE: It concerns your associates, and how they treat the customers. It matters how customers perceive you. Therefore, it is imperative that you and your associates have the same level of compassion and empathy for your customers.
For example, ever notice how the car-dealers’ behavior is generally so much better than other salespeople? That is because of the amount of commission they receive from each customer.
Remember: First, get a vision for your event theme. Then build your marketing campaign around that. The theme must go with your objectives and audience. And lastly, make sure all marketing materials are around the core theme.