IT’S YOUR BUSINESS: Special events and festivals can benefit your business

It’s that time of year when special events and festivals fill the local calendar.

This bringing people together to share and celebrate with different activities can provide opportunities to promote your business or organization.

But why invest in events? For starters, according to Statista, 44 per cent of marketers experience a 3:1 to 5:1 return on investment from event marketing. With those kinds of numbers, it certainly is an encouragement to take a closer look at how you can add event marketing to your mix of business activities.

While it may be too late to get involved this year, although not impossible, it does provide you with the opportunity to do some research to see which events might work to your advantage.

From music festivals to art shows, craft fairs to farm markets, cook-offs to holiday celebrations, each one appeals to a specific target market or in some cases a good cross-section of the community.

Not all events will suit your specific needs. For example, if your business sells to families you will more than likely focus on different events than a business or organization that targets senior citizens. The key of course is that you must first know who your primary customer is.

To maximize the effectiveness of event marketing, start by visiting events and finding out from the organizers if there are opportunities to become actively involved through sponsorship or setting up a display event.

As with any marketing strategy, it is essential to establish some goals. Whether the event is designed to generate traffic, make sales or simply create greater awareness of what you have to offer in anticipation of future sales it is crucial to know why you are there.

On another level, events act as a catalyst for improving a community’s self-image and quality of life. By participating in these events from a purely public relations standpoint you have the opportunity to build a favorable impression of your commitment to the community and top-of-mind awareness.

Now is the time to scout around the various events to get a sense of who the visitors are and the types of businesses that are either exhibiting or sponsoring. As mentioned before, providing you know who your target audience is, you can then begin to compare the pros and cons of each event as it relates to your business.

Joe Smith is a communications consultant and an accomplished fine artist. He can be reached via email at [email protected]

Business Columnist Comox Valley

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