Lost Paradise - Event Promotion - Business Plan Example

Lost Paradise: Event Promotion Plan Name Institution Name Course Name and Code Date Executive Summary Lost Paradise festivals is an annual event that takes three days between 29th and 31st December. The festival that takes place in Glenworth Valley attracts more than 6,000 people who participate in an array of activities including music, food, art, yoga and performance. Lost Paradise offers numerous products and services, which includes glamping, general admission, Lost feast, transport, and crèche. The prices of these products range from $25 to $2,100. The internal and external environment of Lost Paradise festivals affects the business operations. The strength of the festival includes memorable location, near a major city and it is internationally recognized. The weakness includes ineffective leadership and high costs of products and services. The opportunities are many and the Lost Paradise festival should introduce new offerings while threats include competition, customer behavior, and safety and security issues. The target market is based on the demographic in terms of a number of children and family setting, psychographics factors such as the exciting activities while the geographic aspect is customers from across the world. The objective is to increase the number of participants with a focus on creating awareness. Different tools and strategies are used to engage and create awareness including the use of billboards, buying spaces in tourism journals and use of social media. The advertising and engaging the customers will start in April but the activities will pick as of June 2017. To accomplish the marketing and promotional activities, the estimated budget is $102, 290, which will be used to meet the different expenses including the creation of brochures and engaging the customers. The evaluation will be based on surveys and collect data that illustrates the behavior of the customers. Event Information Lost Paradise is a three-day annual event festival that takes place on 29-30-31 December. The location of the Festival is Glenworth Valley. According to the available information, in 2015, the number of attendees was more than 7,000. Some of the activities taking place at the Lost Paradise Festival include performance, yoga, art, food, and music. The performance includes kayaking, horse riding, sporting contests, and clubbing among others. The event is family friendly and parents are encouraged to bring their children. Lost Paradise as an online presence and the link is https://lostparadise.com.au/. The following table summarizes some of the costs associated with the event: Product/Service Description Estimated Cost Glamping It deals with provision of tents and sleeping accessories The tents prices range from $280 to $2100 The price of accessories such as bedding range from $35 to $80 General admission The ticket includes permission to enter the main festival area and camping spot. The difference in pricing depends on the attendee and the period of time spent The ticket price is between $25 and $340 Lost Feast It is a long table communal dining that offers a variety of cuisines prepared by specialist chefs The price is between $45 and $120 depending on the number of persons booked Transport Including car park pass, RV Pass, return coach ticket The cost is between $45 and $170 Creche Activities and model representing the birth of Jesus and other activities associated with Christmas The estimated cost is between $35 and $50 Assessment of the Market Environment Internal Analysis: Strengths and Weaknesses Lost Paradise Festival is a well-known event attracting thousands of people annually; for example, the estimated number of attendees in 2015 was 6,000 while in 2016, the number was 7,000 (Lost Paradise, 2017). The increase in a number of attendees may be attributed to effective management and appropriate support mechanisms to attract many people. In addition, Lost Paradise has numerous activities such as horse riding, kayaking, music activities, feast, and yoga classes. The location is also strategic because it is a 1-hour drive from Sydney and the location has historical connotations. The location is scenic and spacious enough to hold thousands of individuals including parking areas, and areas for entertainment and engagement such as music venues. Therefore, the strategic location including the awareness are the strengths associated with the festival. The weakness of the Lost Paradise is the cost. Lost Paradise (2017) charges an entrance fee and booking fees, which can be seen as double charges. Lost Paradise has to review its billing system to increase the number of people visiting. For example, the higher entrance charges including the expensive tents and bedding may make customers not visit. For example, Lost Paradise (2017) pointed to the cold weather disrupting the entire experience. The customers who acquired the glamping did not benefit from the tents. It also means the management and leadership should be alive to these circumstances and continuously evolve the operations to factor the threats of weather and other uncontrollable variables. Furthermore, the leadership of Lost Paradise Festival may not be transformative in nature meaning that it takes longer to implement changes. For example, the success of the event lies on the attraction of celebrities but this will not last for long meaning transformative leadership is crucial in ensuring the festivals lasts. External Analysis: Threats and Opportunities The major threat is competition and customer behavior can negate the effectiveness of Lost Paradise Festival. More events are been introduced and chances exist in future that Lost Paradise customers will troop to alternative festivals. The trooping may be associated with associated with the increased costs and expenses. In addition, security and safety can affect the operations at Lost Paradise. For example, Mitchell (2016) points to the death of a 21-year lady who was hit by a branch of a tree. Prospective and target customers may shy away from the event because of different types of risks. The exposure to bad weather may result in different medical conditions, which creates challenges to the future of the festivals. Lost Paradise can include additional activities such as a variety of games and competitions. The current framework is about kayaking, horse riding, and yoga, which does not encourage competition. Lost Paradise should change or improve the kayaking to include competition and also the horse riding. Through the process, the winners of the competition will be awarded presents and earnings. The diversity of the activities and services may increase the number of customers and create a positive perception. For example, a variety of food offerings defined in different pricing strategies can meet the requirements of the customers. The cheapest prices for the current food is around $45, which is comparatively high. The alternative offering of $20 can attract more customers since it is affordable. SWOT Analysis The following table summarizes SWOT information: Strengths Memorable location Near to the major city It is internationally recognized Weaknesses Ineffective and non-transformative leadership High costs of products and services Perceived double charges such as booking and entrance fee Opportunities Introduce new activities and offerings Create games allowing people to win gifts and awards Threats Competition Customer behaviour Safety and security issues Target Market Primary Target Market The primary market is based on psychographics, which enables classification of the potential customers in terms of aspirations, attitudes and psychological criteria. Lost Paradise Festival targets people and individuals who want outside experience and ready to participate in outside risks and experiences. For example, Kayaking and Horse riding enable the customers to explore the environment. Hence, there is that consciousness and experience that the customers are after. This will be achieved through informing the potential and repeat customers about the available resources, the activities that will take place, and the exposure to the natural environment. If an individual is not comfortable with kayaking, the individual can walk around and enjoy the environment. The aim is to create that feeling of freedom and aspiration to embrace the changes and dynamism of the environment. Secondary Target Market The secondary market is based on the demographics such as the age, education and economic income. The rates for entry and other activities requires an individual who is ready to come with the family and use high amounts to create that unique experience. For instance, the average cost of glamping gear is $1,000 for a three period is comparatively high. In addition, the marketing of children activities and family activities highlights the importance of demographic objectives. Even though customers of different ages are targeted, the aim is to engage and encourage family based customers to visit the festival. The importance of families is associated with the demands and requirements of the children. The economic income is also important to the family setting meaning more people can spend more to fulfil their expectations of the activities and festivals. Tertiary Target Market The tertiary market is geographic in which people across the world are invited and persuaded to attend the festival and participate in the different activities. The location of the event is near Sydney city, and it enables attendees to attend the event. In addition, the marketing strategy targets the international market since the tickets are only available online. People may be against visiting a location because of the overall costs, and organising an event in a high population area is important because the transportation cost is reduced. The aim is also to target walking customers and customers who can visit during the day and return to their respective homes in the evening. Objectives Overall Business Objective Increase the number of participants by 1,500 in the 2017 event SMART Promotion Objectives – 3 objectives 1. Create awareness through increasing the number of people visiting the website by 20% based on the previous month 2. Create awareness by targeting international and outside Sydney customers with expected 10% of the attendees to come from outside Sydney region based on geographic positioning 3. Creating awareness of new products and services in which 50% of the respondents understand the presence of new products and services to the demographic based customers Promotion Strategies The following table summarizes the promotional activities that will take place including the rationale: Marketing Objective Strategy Rationale 1.1 Sending emails to past customers with a link directing to the website The purpose is to highlight the new activities and also to guide the customers to purchase tickets. Moreover, it is a basis of receiving feedback since unsatisfied customer can reply with complaints and suggestions 1.2 Using the social media to create viral marketing and euphoria throughout frequently updating and providing links redirecting to the main website The aim is to make the target audiences to feel they had missed something. For example, the funny moments can be replayed and the target audiences can relate to the video and associated messages 2.1 Use social media to create messages and embed videos on the previous festival Most of the visitors/target market have an online presence because online means are used to make payments. Embedding videos and messages in media communication increases the awareness 2.2 Immediate media releases to receive free airing The aim is to create media presence through encouraging journalists to cover the media release, which attracts other online/blogs/freelance journalists 2.3 Using electronic and tourism based newspapers and journals to attract the customers These articles and journals are positioned at public places such as salons and offices meaning customers can read about the information 3.1 Using billboards at strategic locations This is used to target the general public and create general presence and awareness of the event 3.2 Sending electronic brochures to previous customers documenting the new products and services These brochures contain a variety of information including highlighting the new programs and activities. It is something like a reminder of the festival and previous experiences Action Plan The following table summarizes the activities that will take place. The aim is to start the marketing promotion in April and from June, the marketing activities pick and other entities are involved as indicated in the promotion budget and evaluation framework: Strategy Responsibility to execute April May June July Aug. Sept. Oct. Nov. Dec. 1.1 Sending emails to past customers  PK                   1.2 Use of social media to create viral messages  LU                   2.1 embedding videos and pictures of past experiences to social media  MN                   2.2 Media release  KK                   2.3 Electronic and tourism platform  WM                   3.1 Strategically located billboards  CP                   3.2 Electronic brochures to previous customers  IJ                   Promotion Budget For effective implementation of marketing campaign, resources are important. The resources should be distributed across the numerous products and services that are required to implement the promotion. The following table presents estimated the cost of the promotional strategy for Lost Paradise: Strategy Action Description and Source Calculations Cost 1.1 Sending emails to past customers Marketing employees of the company Miscellaneous costs: $100 per month for 6 months $600 1.2 Use of social media to create viral messages Social media marketing management (Fat Digital, 2017) 4 Channels at $760 per month for six months $3,040   Social media Marketing twitter, Facebook and Instagram for business (Acquisition cost) Acquisition of business social media: companies targeted are Twitter, Facebook, Instagram and YouTube at average of $1,500 per month for six months each $36,000 2.1 emending videos and pictures of past experiences to social media Social media marketing management (Fat Digital 2017; Lost Paradise Marketing Team) Paid under strategy 1.2   2.2 Media release Complementary and copies Tea and refreshments during the release for 50 journalists at $13.95 $700 2.3 electronic and tourism platform A half page print for two months: November and December Get Lost Magazine (2007) At $2000 per month for 2 months $4,000 3.1 Strategically located billboards Billboards strategically located by Billboards Australia (2017) 6m * 3m Billboard at $3,000 per month for 4 months $12,000 12.66 m * 3.35m Supersite at $10,000 per month for 2 months $20,000 Gantry/Bridge Freeway sites at $33,000 for 1 month $33,000 3.2 electronic brochures to previous customers and hard copy brochures to be distributed Printing variety of brochures Brochure DL (210*210 mm) 5000 pieces $1,015 Brochure A3 (420*297mm) 5000 pieces $1,975 Design of template by Digital Print Australia (2017) 1 electronic template at 200 $200 Lost Paradise Marketing Team 2 employees working 2 hours per day $20/per hour for 360 hours per employee $14,400 Miscellaneous   $15,000     Total Promotional Expenses   $102,290 Monitoring & Evaluation The following table presents avenues of monitoring and evaluating the promotional activities: Monitoring criterion Description Responsibility Data Comment Nature of data Timeframe Social media marketing The activities of the social media management have to meet the specifications of the contract PL Meeting objectives of the contract weekly Positive increase or negative decrease Journal articles/placement The right image including the strategic position of the page has to be reviewed MM Meeting objectives of the contract weekly Positive increase or negative decrease Brochures print out The number of brochures meets the order including quality LK Meeting objectives of the contract weekly Positive increase or negative decrease Billboards Fulfill the planned objectives and details WS Meeting objectives of the contract weekly Positive increase or negative decrease Employees hours Arrives on time and upholding general employee-employer associations QB Meeting objectives of the contract weekly Positive increase or negative decrease Online review   JG   weekly Positive increase or negative decrease Unique visitors The customers are only counted once LK Frequency weekly Positive increase or negative decrease Page views The total number of visitors visiting the web page LK Frequency weekly Positive increase or negative decrease Search engine traffic Referrals to the website through search engines such as Big and Google LK/MM Frequency weekly Positive increase or negative decrease Bounce rate Number of visitors living the website without doing anything LK/MM Frequency weekly Positive increase or negative decrease Conversion rate The number of visitors visiting the site and taking specific actions LK/MM Frequency weekly Positive increase or negative decrease Inbound links The number of external links directing to the website LK/MM Frequency weekly Positive increase or negative decrease References Lost Paradise Festival. (2017). Homepage. Retrieved from https://lostparadise.com.au/ Billboards Australia. (2017). Billboard prices. Retrieved from http://www.billboardsmelbourne.com.au/billboard_prices.html Digital Print Australia. (2017). Brochure printing. Retrieved from https://www.digitalprintaustralia.com/brochure-printing.html Get Lost Magazine. (2017). Homepage. Retrieved from https://www.getlostmagazine.com/your-cart/ Mushroom Catering. (2017). Breakfast and morning packages. Retrieved from http://mushroom.foodstorm.com/items/category/breakfast-morning-tea-packages Fat Digital. (2017). Homepage. Retrieved from http://www.fatdigital.com.au/social-media-company/ Mitchell, G. (30 December 2017). Woman dies after being hit by falling branch at Lost Paradise festival site. The Sydney Morning Herald. Retrieved from http://www.smh.com.au/nsw/woman-dies-after-being-hit-by-falling-branch-at-lost-paradise-festival-site-20161230-gtjusu.html Appendix Brand Bullseye Examples of Promotional Materials/Collateral The requirement for customers to wear diverse clothing: Read More