lotus music festival marketing strategy
TRANSCRIPT
Lotus Music Festival
Expanding Lotus into Never Before Reached Markets
Dalia Erkman, Abigail Spear, Reuben Ross, Anthony DiStaulo
Our Mission“to create opportunities to experience, celebrate, and explore the diversity of the world’s cultures, through music and the arts”
Experience. Celebrate. Explore
International, Diverse, World cultures.
Company Overview
Competitive Profile MatrixIU Auditorium Cardinal Stage
CompanyJacob’s School of Music
Strengths Weight Rating Score Rating Score Rating Score
Brand Recognition
.40 1 .40 1.5 .60 3 1.20
Niche Market
.20 1 .20 1 .20 2 .40
Loyal Audience
.15 1 .15 1.5 .225 2 .30
Reach .10 4 .40 4 .40 4 .40
Reputation .15 4 .60 1.5 .225 4 .60
Total: 1.00 - 1.75 - 1.65 - 2.90
Situational Factors
Strengths
● Niche Market*● Loyal Audience
Base● Untapped
Audience ● Reputation● Volunteers● Friendly
Competition● Reach● Brand
Recognition
Weaknesses
● Relatability● Diversity in
Product● Niche Market*
Opportunities
● IU Students● “Festival
Craze”
Threats
● Timeliness● Lack of
interest in World Music
● Younger Generations
Objectives and Goals
Enhance and Expand
● Larger customer segment
● Younger audience
Tailor and Develop
● New marketing strategies that incorporate social media
Increase Revenue
● Profit!
The ProblemMillennials’ Arts Attendance
Millennial's Arts & Cultural Attendance
● ¼ Millennials attended an outdoor performing arts festival in 2012 (NEA).
● However, overall Millennials’ Arts Attendance is the least out of any other market.
The SolutionViral Marketing
Tell them a Story
“In fact, stories only magnify the need to have something remarkable (and honest) to say.”
- Seth Godin
Target Audience(s) Ages 18-24
Marketing Mix
Price
Friday + Saturday Weekend Pass – $60 adv. ($70 day of show)Friday general admission– $35 adv. ($40 day of show)Friday senior/youth/student– $29 adv. ($34 day of show) Seniors 62+ | children 12 & younger | students w/ valid IDSaturday general admission– $39 adv. ($44 day of show)Saturday senior/youth/student– $33 adv. ($38 day of show)
Place
Bloomington, Indiana
.
Promotion
Video - Coupon Code
Commemorative Book
Past Strategies
Product
The Festival
People
Tactics & Resources
Commemorative Book
● Resource for assessment
● Raise revenue
Video
● Reach market audience through social media
Past Tactics
● Free Tickets● Paper Promotion● Street Team
Commemorative Book
The Video
● Generate Buzz● Tell a Story● Create Lasting
Memories
3 Parts● Promo● Video Release● Follow-up
Coupon Code: LOTUSLOVE
“Lotus Love Story”
Millennial's Social Media Presence
Chart: IMOB
+7%
+22%
+20%
“Humans of Lotus”
● Commemorative Book of the 2015 Lotus ● Email Newsletter● Sold at 2016 Lotus● Increase Revenue and Consumer Experience
<$1,500● Film
○ Filming and Editing Of● Commemorative Book
○ Writing of Bios and Pictures
Budget
Timeline & Working Plan
August 2015 ● Picked the family● Hired Crew
2015 Lotus Festival● Filmed● Collected Pictures and
Stories
Present / December 2015
● Books are Finished
2016 Lotus Festival September 15-18th
January - May 2016
● Edit Video● Video Preview
August 2016● Video goes
Viral● Presale● Street-Team● Tabling
September 2016
● Follow-up Video Released
Assessment
● “Humans of Lotus” Commemorative Book
● Coupon Code● Likes, Shares, &
Comments2015 Volunteers
http://www.lotusfest.org/
http://www.lotusfest.org/2015-festival-report/
Lotus Volunteer Newsletter - 2015
http://www.increasemyonlinebusiness.com/social-media/millennials-social-sharing-activity-impacts-buying-habits/
https://www.youtube.com/watch?v=whgI3I-Xwk0
https://www.arts.gov/news/2013/national-endowment-arts-presents-highlights-2012-survey-public-participation-arts
Resources