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Event Marketing Research - Know Your Target Market!

Event_marketing_research Every aspect of your event marketing needs to start with a comprehensive understanding of your target market. In the case of events, your target market is represented by your ideal event attendee. I cannot stress this enough - Target market research is a big deal! People won’t buy tickets for an event (or attend a free event) that doesn’t hold their interest. A lack of interest is one of the biggest reasons that events fail. If you want to pack your event, the best place to start is with a hungry market!

You can find a hungry market by doing a little online research. If you have a new event, target market research needs to be your first planning step. Start by asking yourself, “What are my target market’s wants, needs, and fears as they pertain to my event?” When asking the question it’s really important to take your ego out of the equation. Focus on the market’s ego.

Use the Net to Do Free Research
There are a plethora of tools you can use to research your target market. Most of the tools are free. Start with a Google search that’s topically related to your event. Consider segmenting your search in Google by look at the blog, news, web, and video results. Look for the hot topics or trends. Pay particular attention to online user content such as comments or reviews. What are people saying? A hotbed for user content can be found in topical forums and blogs.

Don't Reinvent the Wheel
When it comes to events, there is little need to constantly "reinvent the wheel." Take a look at similar and competing events. Try to contact the organizer. Tell them who you are and what you're thinking of doing. It’s amazing how willing other event organizers are to share information.  One telephone call could make your event more financially successful or save you heartache.

Go Back to Your Customer List
If you have a recurring event, go back to your customer list. Consider surveying your customers. Find out what people thought of your previous event and what they expect from your next event. You can have a simple online survey setup in minutes with a service like SurveyMonkey. Don’t be afraid to ask tough questions like “What didn’t you like about our last event?” The idea is to give find out what people expect from your event.

Build a Profile
Use your target market research to compile a demographic and psychographic profile of your event attendee.  That profile represents your ideal prospect and should drive everything you do with your event web site and your event. The profile should also drive your advertising and marketing decisions.

I realize that target market research isn’t the most exciting activity, but its importance is paramount. There is zero benefit in planning or creating an event if people aren’t going to attend. Doing a little homework can upfront can save you a ton of money and agony down the road.

Want to get more great info? Check out the articles below:




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Comments

Mike

This was a helpful piece of information. I'm in a Hospitality Marketing class and found this useful

Eugene Loj

Mark,

Thank you for the comment.

Unfortunately, in my humble opinion, most business owners aren't good at viewing their business operations objectively. I often hear statements like this, "nobody knows my business like I do, therefore I'm the best person to market it." The end result is usually a disaster.

- Eugene

Mark

It also makes it easier to define your business strategy and goals and to get your business on the road to auto-pilot.

Since you know the industry, you can develop a system targeted directly at your target market, which lends itself to hiring others to simply execute the system.

You then take your self out of the execution part of the business and focus on refining the system, developing new products and services, maintaining client relations, and other key business development responsibilities.

Eugene Loj

Thanks for the comment!

- Eugene

conjoint analysis

Thanks for good and hardworking blog....target market research isn’t the most exciting activity, but its importance is paramount. There is zero benefit in planning or creating an event if people aren’t going to attend. Doing a little homework can upfront can save you a ton of money and agony down the road.

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