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« Event Planning: The Customer Avatar and Your Event | Main | Event Marketing: Your Email List - Quality versus Quantity »

A Simple Formula to Pack Your Event

Over the last few years I've looked long and hard at killer tactics that sell out events. As an event planner or organizer, it's in your best interest to methodically look around your own industry and outside your industry for successful event marketing strategies that you can adopt. A casual look will show you that the simple things usually work better than the complex. Some of my best event marketing strategies (ideas that have made clients hundreds of thousands of dollars) have come from unrelated marketplaces. Through all my observations and experiences I've formulated a very simple formula that any event organizer can use to pack their event. Here is the formula:

 Hype + Massive Value = Monstrous Demand

The formula above might seem overly simplistic, but it works when you put into practice.

Hype
Event_marketing_formulaYes, it's extremely important to hype up your event!  Hype is a strategy right out of P.T. Barnum's playbook. Barnum was a master at using the right amount of hype to pack his events. Unfortunately, most event organizers, planners, and marketers completely screw up how they leverage hype. In most cases events are under hyped. Don't be afraid to be loud and proud trumpeting the benefits of your event! Let people know what's in it for them. This next part is really important . . . if you're going to hype your event, you damn well better make sure you exceed your patron's expectations. Yes, it is possible to over hype, but only if you don't deliver on the promises you make to the consumer in your advertising.

+ Massive Value
Your hype needs to be followed up with massive value. If you hype your event and then fall short of the consumers expectations, your dooming your event. Focus on delivering massive value with your event by exceeding your customer's expectations. You know you've nailed it when most of your customers leave your event saying "That was amazing!" Don't forget that you can also create value for your event before it even begins. Can you think of ways to let people experience your event before they've even attended? For more info on delivering value beforehand, check out "Front Loading Value for Your Next Event." The Internet has made "front loading value" easy and inexpensive. Value is such a powerful factor in your event marketing and promotion that it can create its' own demand. If you do nothing more than focus on providing massive value for your event, it's hard to go wrong.

= Monstrous Demand
Here is formula's payoff . . . When you couple hype for your event with massive value, you create monstrous demand. My favorite example of monstrous demand is the World's Largest Disco in Buffalo New York. In 2009, the "Disco" sold out over three months before the event takes place.  That's 7000+ tickets selling between $50-$150 that nobody can purchase anymore. You know you've hit it when people are lining up to attend your event like a pack of ravenously hungry wolves. Do everything you ethically can to stoke demand. Ridiculously high demand is the key doing really well with advance ticket sales.

Recurring Events
A big key to seeing success with the formula above is having a recurring event. I understand for some people having a recurring event isn't possible. If you aren't going to have a recurring event, it's even more important to deliver value on the front end. If you have a recurring event, make sure you're collecting feedback from attendees. Here is a counter intuitive way to collect feedback, World's Largest Disco style. Give it a shot and let me know how it turns out.

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