Target Markets

Hello again, for this second post I’m going to identify the target markets of both events, and talk about how they effect each events individual marketing communications. I will then compare the two, suggesting both similarities and differences.

I think before I go into who the target markets are, it is important to give some academic basis on why they are so important, so here we go……

In my opinion Bowden et al explain why segmenting and targeting the event market is important very well. They explain that: ‘Most events do not appeal to everybody, so it is essential to identify those consumer segments whose needs most closely match the event experience.’ (Bowden et al, p390, 2001)

From the basis that their needs most closely match the event experience, we can assume that they are more likely to want to participate than someone who’s needs do not match the event.

When segmenting the market Bowden et al explain that the market segments chosen should be:

• Measurable
• Substantial enough in size to be worth targeting
• Accessible by normal marketing communication channels
• Actionable by the event organiser, given the marketing budget and other resources.

 Now that we have a basis on which to talk about Target Markets, I think we should look into those of my chosen events.

Firstly The Rallye Sunseeker:

According to Mintel data 2% of adults aged 16+ watch rally live at the course, with 28% of them watching it on TV. Contrary to popular belief the split of Male and Female viewing is also quite close, with 34% of Males watching it on TV in the last 12 Months and 21% of Females. From this we can come to the conclusion that when marketing the Rallye Sunseeker they will be aiming towards both Males and Females, potentially even family’s. From the Rallye Sunseeker’s website we can see that Bournemouth University research has shown over 60% ABC1 audiences, reflecting the relatively wealthy population of the south.

Through Rallye Sunseeker’s website it is hard to get a feel for who they are targeting other than just ‘Rally Fans’, one particular marketing effort does help give a idea though.

rallyesunseeker ‘Vote for Miss Rallye Sunseeker 2012, Go to the facebook page http://t.co/c6o99Oos and vote for your favorite model!’

This Tweet posted today is part of an on going campaign for ‘Miss Rallye Sunseeker 2012’ . It provides a link to the Rallye’s Facebook page and encourages fans to vote for their favourite model. One would assume this marketing is aimed at a predominantly Male audience, probably of the 18-35 ‘Facebook’ Generation.

With a relatively unsuccessful attempt to pinpoint the exact target market of the Rallye Suneeker I feel it may be slightly easier to pinpoint that of Cisco Live, lets see….

Cisco Live is predominantly aimed at Business people interested in purchasing hardware or software products, although it is mainly technology based these days every industry is in need of technology so therefore all sectors are involved. Here are the figures of attendees by industry from 2011:

Due to the enormity of the Cisco company the Cicso live event attracts audiences from all over Europe, even the world. Their data shows that in 2011 the top 3 attendee nationalities were: United Kingdom 23%, Germany 11% and France 6%. This is something to take into account that Cisco live are looking to market their event to a international audience, therefore their channels of communication are likely to be different from that of the Rallye Sunseeker who are only looking on a national level.

A key point to take into account when looking into Cisco Live’s target market is that it is marketed at business’s as a whole rather than individuals. Attendance records also show 34% of companies in 2011 had 10,000+ employees, these are major business’s that need to be marketed to in a different way than the general public.

What’s the difference?

Now finally we come to talk about the difference between the two event’s target audience’s and what it will mean to their marketing plans. The main difference between the two events is that one is aimed toward members of the public for a leisure activity and the other is aimed toward professional businessmen. Rallye Sunseeker will be using conventional means of advertising to their target markets such as flyers, Internet campaigns (Facebook, Twitter etc) and advertisements in relevant magazines. On the other hand Cisco Live are much more likely to take a direct approach, they will be emailing or personally contacting large companies they know have attended and purchased in the past. They would also invite business clients and any associates they may have. Basically speaking a very ‘Word of mouth’ style of Marketing. That said they will also utilise more mass methods of marketing, such as their website, Twitter, Facebook and possibly promotional posters/flyers.

In the coming weeks I will be posting more informal bulletins of the marketing I see in relation to my events, I will then evaluate it briefly. Along with this I will continue my series of detailed posts on such area’s as Sponsorship, Advertising and Sales promotions.

Thanks for taking the time to read this. I hope this enormous post has not been a daunting wall of text, but more an insight into what is in my opinion one of the most crucial parts of an events marketing plan, after all if you do not know who you are aiming your event towards it is very hard to contact them. I promise there will be more pictures and less text next time!

Next up, Website Design…..