A conference marketing plan is not a one-time job but a continual process where you need to continually reevaluate your business activities. Well, at least if you want to achieve long-term success.
One helpful method to do so is using the 4 Ps of marketing: product, price, promotion, place.
The 4 Ps In A Conference Marketing Plan
Customer’s needs, demands, markets, and products can change rapidly and do it fast. In today’s competitive environment, it’s essential to adapt quickly because if you don’t suit the market needs, someone else will.
The 4 Ps can help you define the key issues that affect your event marketing campaign, review and adjust these indicators. Therefore, understanding the concept can significantly facilitate your day-to-day operations. So, let’s get into details.
Essentially, you are developing your event to promote your products, services, or overall brand. No matter what the case is, one of these three is your ‘product.’ So, it should be the central piece in your conference marketing plan.
Once you define your product in the event marketing plan, you should come back to reevaluate it after a while. The question at this point is whether your product is appropriate for the customers on the market? Does the market still need or demand your offering? Or is your brand a little bit outdated for the current market?
You should take a look at what your competitors are doing. If someone has a better product or overall event marketing strategy, you might as well learn a thing or two.
Still, your conference marketing plan must always be unique. So, it would be best to look for ways to gain and sustain a competitive advantage. You should follow two essential rules. First, there is no one size fits all. And second, a good marketing strategy always begins with the market, the customer’s needs, and wants.
Thus, your event should always reflect your brand, and so should your products.
The second ingredient in the formula is the price. Essentially, your conference marketing plan should feature competitive prices, neither too high nor too low for the market.
At this point, the discussion can continue in two ways. First, we can discuss the prices of your products and brand. Second, however, we can also turn to the ticket prices regarding your event.
Does your competitor offer early-bird discounts, and you don’t? Can customers benefit from package deals or lower prices for the same value? If that’s the case, you will have to rethink your pricing. Then, you can either provide better value to your event visitors at the same price or retain the same offer but at more affordable prices.
Keep in mind; there will always be a trade-off. For example, you can increase your prices and lose some customers in the process, but still, increase your profits and vice versa. So, it would be best to explore different alternatives before incorporating them in your conference marketing plan, or worse yet, executing them in practice.
When it comes to pricing, you can also benefit from a strong brand reputation and customer loyalty. Therefore, you can use your event to strengthen your client’s preference toward your brand or products. Once you do so, you can go for higher prices, as loyal customers are less price sensitive.
One great example at this point is the brand Coca-Cola. They can increase the prices and still not lose many customers, which is not the case with less-known brands. What is the reason? They have developed a strong brand with loyal customers, mainly being price insensitive.
The third, and to be honest, my favorite “P” is promotion. It includes all the ways you inform potential and existing customers about your product.
Once again, it might refer to general marketing strategies, including event promotion. Essentially, you use the event to inform, market, and sell your products to your customers.
But let’s get in more details and be more specific regarding your conference marketing plan.
At this point, you should think of how you promote your event to your target audience. Do you have an established social media event marketing strategy? If the answer is no, you should certainly start working on it and do it soon. Also, do you use paid ads, properly segment and target the market?
The key thing to remember here is that what works for one market segment cannot work for another. Well, at least not in most cases. So, first, you need to identify your ideal customer. Then, you can spot their spending patterns. What is the best platform to reach them, in which part of the day, and using which strategies? Do they prefer text or visuals, such as photos and videos?
In turn, even small changes in your conference marketing template can produce significant financial and non-financial improvements.
Finally, where do you sell your products and services? Speaking of your event, you can use affiliate marketing, blogger outreach, social media advertising, or even real-time promotion. You can also use partnerships and sponsors to sell your event, all of which should be included in your conference marketing template.
In turn, your event is the place you sell your brand and products. So, the main question regarding the last ‘P’ is, what the perfect place to host your event? Should you rent a conference hall, host a trade show, or a small dinner gathering?
Once again, it all starts and ends with your customers. Once you determine the number of guests, their likes, and preferences, along with compatibility with your brand’s mission statement, you can easily select the location.
Keep in mind; each event is a separate occasion. So, while you change the marketing strategies, you might also change the location and overall setting of it.
The Best Results On Your Conference Marketing Plan
Using the 4 Ps of marketing can set you on the right track. By defining and continually reviewing these indicators, you can essentially achieve the best possible results regarding your conference marketing plan in today’s competitive environment.