Creating an event planning marketing plan for your business is important. It will help organize your marketing efforts and track your progress. Plus, it will give you a roadmap to follow so you can achieve your marketing goals.
As the owner of an event planning business, you know that having a good marketing plan is essential to your success. After all, without customers, your business will not survive.
But what goes into a good marketing plan? Below, we will go over some of the key components of a successful marketing plan for an event planning business.
Key Components of an Event Planning Marketing Plan
A great marketing plan has eleven sections as follows:
- Executive Summary
- Target Market Segments
- Unique Selling Proposition (USP)
- Pricing and Positioning Strategy
- Distribution Strategy
- Marketing Materials
- Promotions Strategy
- Digital Marketing Plan
- Conversion, Referral, and Retention Strategy
- Financial Projections
We provide more detail for each of these key components below.
The executive summary is a brief overview of your entire marketing plan. It should include your overview information from each of the other sections, such as your target market, unique selling proposition, key promotions strategies, and financial projections.
Target Market Segments
When it comes to marketing an event planning company, it is important to identify your target market segments. Who are your most likely customers? Consider factors such as age, gender, income, location, and lifestyle when determining your target market segments.
For example, the customers of an event planning business may include:
- Couples planning
- Corporate executives
- Friends of someone with a special birthday
- Family members who want to host a quinceañera
- Parents with children reaching the age of bat mitzvah/bar mitzvah
- Friends who want to celebrate the purchase of a new home
Break down each of these segments even further by considering their needs, wants, and pain points. For example, the needs of the customers of an event planning business may include:
- Seeking affordable event planning services
- Looking for an innovative corporate affair
- Wanting a memorable atmosphere for a party
By understanding your target market segments, you will be better equipped to create marketing messages that resonate with them.
Unique Selling Proposition
Your unique selling proposition (USP) is what sets your event planning company apart from other event planning businesses. What do you offer that nobody else does?
For example, your USP could be:
- The most affordable event planning services in your city
- The most flexible event planning services in your city
- Event planning services that are tailored to parties for singles
No matter what your USP is, make sure it is clear in your marketing materials. Your clients should be able to see immediately what makes you different from the other business in their area.
Pricing and Positioning Strategy
Your pricing and positioning strategy will be determined by your target market segments and your unique selling proposition.
For example, if you are targeting corporate events, you will want to position yourself as a premium event planning company. This means your prices will be higher than other event planning companies, but you will also offer a higher level of service.
On the other hand, if you are targeting the family of a quinceañera, you may want to position yourself as a budget-friendly option. This means your prices will be lower than other event planning companies, but you will still offer a high level of service.
No matter what your positioning strategy is, make sure your pricing strategy is competitive. Consider conducting a market analysis to see what other event planning businesses with which you compete are charging for similar offerings.
Your distribution strategy will determine how you get your event planning services into the hands of your target market. There are many different ways to distribute your services, such as through trade show directories, online party registries, or a combination of both.
You will also want to consider how you will reach your target market. For example, if you are targeting corporate events, you will want to make sure your services are offered in similar companies that are in partnership or adjacent to your company client. You will also want to create a strong online presence by having a website and blog that are optimized for search engines.
Your distribution strategy documents how customers will buy from you. For example, will they buy directly from you in-person? Will they buy online? Will they purchase from your partners, distributors, etc.
Providing offers through your business is a great way to entice customers to make a purchase. For event planners, some common offers include discounts on services, package deals, and referral amenities.
When creating an offer, make sure it is relevant to your target market segments. For example, if you are targeting corporate event planners, you may want to offer a discount on your services for customers who book multiple events.
You will also want to create an offer that is time-sensitive. This will create a sense of urgency and encourage customers to take action. For example, you may want to offer a 10% discount for customers who book their event within the next week.
Finally, make sure your offer is easy to redeem. Include clear instructions so customers can easily take advantage of your offer.
Your marketing materials should be based on your unique selling proposition and target market segments. They should be designed to grab attention and generate interest in your business.
Some of the marketing materials you might want to create include product brochures, flyers, and website banners. You will also want to make sure your branding is strong and consistent across all of your marketing materials.
Your promotions strategy includes the methods you will use to attract new customers. It should be designed to generate excitement and encourage customers to try your business.
Event planning businesses should consider the following promotional strategies:
- Host a giveaway contest on social media.
- Create a social media campaign that encourages customers to post photos of their events.
- Participate in online and offline tradeshows and conferences that cater to event planners.
- Sponsor a charity event or fundraiser.
- Collaborate with other businesses in your industry to promote each other’s services.
- Give a percentage off of your services for customers who refer new business to you.
- Offer discounts or coupons through online directories and coupon websites.
- Provide a free consultation to potential customers.
- Host a webinar or workshop on event planning tips and tricks.
Digital Marketing Plan
In today’s digital age, it’s important to have a solid digital marketing plan. This will help you reach a wider audience and drive more traffic to your business.
Some of the digital marketing tactics you might want to use include search engine optimization (SEO), pay-per-click advertising, social media marketing, and email marketing. You will also want to make sure your website is mobile-friendly and easy to navigate.
Event planning businesses should consider the following digital marketing strategies:
- Search engine optimization
- Pay-per-click advertising
- Social media marketing
- Email marketing
- Mobile-friendly website
- Search engine marketing
- Online directory listings
- Coupon and deal websites
- Paid online advertising
Conversion, Referral, and Retention Strategy
Your conversion, referral, and retention strategy should be designed to keep customers coming back. Consider offering loyalty rewards, discounts for referrals, and other incentives to encourage customers to continue using your business.
You will also want to make sure your customer service is top-notch. Respond quickly to any complaints or concerns, and always go above and beyond to exceed customer expectations.
Event planning businesses should consider the following conversion, referral and retention strategies:
- Offer loyalty rewards
- Discounts for referrals
- Incentives for repeat business
- Excellent customer service
- Quick responses to customer concerns
- Going above and beyond for customers
Last but not least, you will need to create financial projections for your business. This will help you track your progress and ensure you are on track to meet your goals.
The key information to include in these financial projections are your monthly marketing expenditures and expected sales. Be sure to update your projections on a regular basis to reflect any changes in your business.
Financial projections for a startup event planning business may include:
- Monthly marketing expenditures
- Expected sales
- Number of new customers
- Average customer spend
- Gross margin
- Operating expenses
- Profit and loss
- Cash flow statement
As you can see, there are many details that go into the creation of a marketing plan for an event planning business.
By following these steps, you can develop a quality marketing plan that will help you successfully launch and grow your event planning business. Just remember to be creative, think outside the box, and always put your customers first. With a little hard work and dedication, you will be well on your way to success!