Live entertainment is currently one of the few vital components of the music industry. It struggles to survive in the 21st century and adapt to the drastic changes in the music market.
Numerous music events happen daily, and it is important to plan and produce them in the right way to remain relevant and secure your place in the market.
This monograph presents several crucial issues that require attention during the event organization process, such as marketing and strategic planning, communication and advocacy, risk management, event scheduling, and capacity management, to name a few.
The importance of being innovative and always up to date with the state of the market is also evident in organizing the most successful events.
Purpose Of The Musical Event
The first step in the concept creation process is to define the purpose of the event, with the same event being able to serve several purposes.
Musical events can be organized by companies and corporations, as well as by the government and its cultural departments, having different purposes.
In the case of corporate events (Corporate events are those sponsored or organized by companies rather than governments and the public sector), once the purpose has been established, the direction will be given to the main decisions about the development of the event, which include matters such as theme and elements, as well as corporate messages that must be communicated and transmitted to the market.
The main purpose for which corporate music events are organized is primarily to advertise the company’s product.
Marketing research is carried out to evaluate the concept of the event and analyze its feasibility; Other aspects necessary to investigate and evaluate would include operations and finance.
Marketing research should examine the most likely response the target audience could provide to the event concept.
An “environmental scanning process” will determine this possible response and identify whether the event will be perceived as interesting and attractive or vice versa and if it corresponds to current tastes and preferences.
If the media is excited about your ideas, they are likely to help promote the event and share their enthusiasm.
However, a negative response from the media can be seen as a red flag and should be considered immediately as an indicator of an unwanted outcome.
For a large part of this evaluation, the event management will have to test their intuition and business instinct.
It is possible to show your event concept to your friends, colleagues, or potential shareholders.
Except for the possible response to the concept, this research can also gather information about the creditworthiness of the target audience and their price expectations, or how the event concept can be modified to better meet market requirements.
Another step in the marketing research process is the analysis of the environment, which determines the competition in the market.
The analysis of the environment determines if there are similar events that occur during the same time, holidays, or any other factor that may impact the target market.
Structure Of The Demand
In general, for the event organizer, an interest in potential sources of demand is the key to providing a successful event because without this knowledge, it will be impossible to provide what the target market expects.
Even if a lot of advertising work is done for the event, the target market may or may not respond as many events are doing something new.
Therefore, any estimate of the target market may not correspond to reality.
Naturally, with events that have taken place before and repeated in various time intervals (annually, twice a year), the market is relatively known and estimated from previous occurrences.
However, even in this case, there is a certain limitation that may or may not always depend on the organizing team’s actions.
The 3 “E” ´s of Event Marketing
Today entertainment can be found anywhere. People have television, home theater, digital sound systems, and, most importantly, the Internet.
This is becoming increasingly difficult for the concert industry as any possible show can be found on the internet. Many of them are, in fact, professionally recorded and sold on DVD.
However, the only selling point here is the atmosphere, the energy between the artist and the audience that can only be created during the live show and cannot be experienced remotely.
The uniqueness of a live concert is exactly what generates emotion, something intangible, but it is the emotion that makes the event the most memorable.