Market Research: Researching Your Event

If you’re launching a brand new event into the marketplace, your first port of call should be market research. There’s no point organising an event, slamming a ticket price on it, putting it up on Eventbrite and expecting people to buy tickets, because it just won’t happen. Firstly, you need to establish if there’s a demand, and how big that demand is.

And then, you need to establish what your customer actually wants, and how you’re going to meet their requirements and exceed their expectations.

Database Building

Ultimately, you need email addresses to be able to send a survey out to potential customers, so go out and build a database! Use LinkedIn to find potential names, and either connect with them and download their email address, or use to find their email if it’s a professional domain-based email you’re looking for.

Ask For Assistance

Team up with potential media partners who’d like to back you, and ask them to send your survey out to their database, because they’ll benefit if they’re making a commission per sale, and you’ll expand your reach substantially. The more people you can get the better. And you can sell back to their database later through email marketing.

Build A Dummy Event

Organise a dummy event first, and use that dummy event to get your potential customer to answer questions about it. So for example, ask ‘what is the likelihood of you attending this event?’ ‘Do you think we have missed anything? If so, what is it?’ This will ensure your efforts aren’t wasted, and that you can simply make amendments to what you already have.

Ask The Right Questions

Always make sure that your questions cover pricing, concept, features, improvements, and give you what you need to build a better event. Use empty boxes to give people the opportunity to write better answers that you can use. All areas need to be covered, so use this opportunity wisely to get the correct feedback.

Integrate Your Feedback

And them implement it! You’d be a fool not to. Your customer knows what they want, so give it to them. If they say they don’t like certain aspects of your event, don’t take it personally. Look at it as a good thing! Feedback is your chance to make your event hugely successful and competitive. It’ll give your competitors a run for their money…

Ask For More!

If your sales are going slow, send another survey out asking for even more feedback to make your event even better. And if your event has already taken place, ask for post-event feedback which you can use to make your next event better. Market research isn’t a pain in the ass, although it might feel like it. It’s an opportunity. Use it.

Or let us do it for you! At LS4 Events, we’re experts at all things event-planning, and our Chairman has launched multiple successful events into the marketplace from nothing. We make market research for your event easy and we’ll help you succeed. Get in touch. Let us make your event a success.