Entrepreneur
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Key Takeaways
- Plan ahead for success — build out a calendar for the year ahead to give yourself ample time to develop promotions, secure necessary materials and generate buzz.
- Create targeted promotions for a variety of channels — create a theme for your promotion and share it through a multi-channel campaign.
- Get directly involved — consider sponsoring or hosting a local event, having a branded booth at a local festival or donating goods or services for a charity auction.
The numbers speak for themselves. Since the pandemic, consumer demand for live entertainment has surged with increased attendance and spending up 25% from 2019, according to Bank of America Institute. In fact, this year’s FIFA Club World Cup drove a 7% year-over-year rise in consumer spending in host market zip codes, mainly on food and drink. This momentum is anticipated to continue into next year. According to FIFA, the 2026 World Cup is expected to inject up to $30.5 billion into the U.S. economy.
Major events aren’t the only ones that make a mark on the economy. Smaller-scale events, such as regional festivals and concerts, also contribute to local economies in meaningful ways. Buzz around these events, big and small, isn’t just for attendees. It’s a golden opportunity for businesses to connect with new customers, enhancing their visibility and revenue potential. Here are three strategies business owners can use to capitalize on upcoming events.
Related: Why Local Marketing Still Matters in the Digital Age
1. Plan ahead for success
To make the most of events and key moments in time, it’s crucial to plan ahead. Compile a comprehensive calendar for the year ahead, including sporting events, concerts and other performances, as well as annual community gatherings like festivals and fairs. Building out a calendar allows business owners to move from reactive to proactive marketing, enabling them to prepare campaigns weeks or months in advance.
Creating a targeted campaign tied to an event requires ample time to develop promotions, secure necessary materials and generate buzz. For example, restaurants and retailers near FIFA World Cup stadiums that expect to see increased foot traffic should consider hiring additional staff, planning for any new promotions and raising awareness among visiting fans well in advance of kick-off.
It’s also important to set measurable goals during the planning stage. Be sure the goals are consistent with the business, its objectives and the target audience. Businesses that sell food and drink near the stadium might aim to increase foot traffic by 20% on game days. This short-term goal can be measured by tracking sales, monitoring the number of customers and even assessing order value. More long-term goals can be measured through metrics like social media engagement, customer sentiment or rewards program sign-ups.
2. Create targeted promotions for a variety of channels
Ahead of an event, businesses should begin designing compelling promotions that can be deployed across a variety of channels. When creating the central theme of the promotion, keep it simple and directly tied to the event or moment in time.
Once a business has its theme and promotion idea, share it through a multi-channel campaign to maximize reach and impact. Physical channels like signage, window displays and promotional flyers may feel old school, but having a tangible presence can engage a captive audience, leading them to associate businesses with the event.
Digital and online channels are another great way to engage with prospective customers who don’t come into contact with the business on a daily basis. Consider using social media, email marketing or a business website as part of your toolkit. Broadcast channels are another way to reach a broad audience. Consider purchasing ad spots on local radio stations and podcasts, or pitch the promotion as part of a “business spotlight” on a local TV news show.
By synchronizing the business’s message across multiple channels, including physical, digital and broadcast, owners can create a strong campaign that reaches customers wherever they are. This approach also helps maximize the return on their promotional efforts by driving both online engagement and in-person foot traffic.
Related: 4 Ways Small Business Owners Can Capitalize on Big Events
3. Get directly involved
In addition to creating targeted promotions, businesses should consider getting involved with local events more directly. By becoming a part of the event itself, business owners can increase brand visibility and build local goodwill. Sponsorships, for example, can help bolster a business’s reputation and increase customer loyalty by showing the owner is invested in the community. Consider sponsoring a local event, having a branded booth at a community festival or donating goods or services for a charity auction.
Another way to get involved more directly is to host an event tied to a larger occasion or moment in time. Throw a pre-game party ahead of a major sporting event with refreshments and team merchandise, or a holiday-themed gathering during peak shopping seasons. Hosting an event is a great way to bring customers into a business’s storefront and create a memorable brand experience.
Next time an event, big or small, comes through town, business owners should seize the chance to participate. By tapping into events, whether through targeted marketing campaigns or strategic sponsorships, business owners can amplify their market presence, strengthen customer relationships and build a more positive brand reputation within their local communities.
Key Takeaways
- Plan ahead for success — build out a calendar for the year ahead to give yourself ample time to develop promotions, secure necessary materials and generate buzz.
- Create targeted promotions for a variety of channels — create a theme for your promotion and share it through a multi-channel campaign.
- Get directly involved — consider sponsoring or hosting a local event, having a branded booth at a local festival or donating goods or services for a charity auction.
The numbers speak for themselves. Since the pandemic, consumer demand for live entertainment has surged with increased attendance and spending up 25% from 2019, according to Bank of America Institute. In fact, this year’s FIFA Club World Cup drove a 7% year-over-year rise in consumer spending in host market zip codes, mainly on food and drink. This momentum is anticipated to continue into next year. According to FIFA, the 2026 World Cup is expected to inject up to $30.5 billion into the U.S. economy.
Major events aren’t the only ones that make a mark on the economy. Smaller-scale events, such as regional festivals and concerts, also contribute to local economies in meaningful ways. Buzz around these events, big and small, isn’t just for attendees. It’s a golden opportunity for businesses to connect with new customers, enhancing their visibility and revenue potential. Here are three strategies business owners can use to capitalize on upcoming events.
Related: Why Local Marketing Still Matters in the Digital Age
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