Direct & Event Marketing MM Notes
Direct & Event Marketing MM Notes
Experiential Marketing
Public Safety:With large crowds at events, ensuring public safety is a critical aspect
of crisis management. This involves collaborating with local authorities and having
well- defined emergency response plans.
prevention of crisis.
Adaptation of Plans: Modify event plans as necessary, taking into account any changes
required due to the crisis, such as rescheduling or altering the format.
Waste Audits:Conduct waste audits to understand the types and amounts of waste
generated, facilitating the implementation of targeted reduction measures.
Safety and Security Risks: Ensuring the safety and security of concert attendees
amidst large crowds is a significant concern, requiring collaboration with local
authorities and comprehensive security measures.
Vendor Selection and Coordination: Thoroughly vet and coordinate with vendors to
prevent issues related to service delivery, timing, and cultural appropriateness.
Detailed Planning and Communication: Meticulously plan every aspect of the wedding,
taking cultural traditions into account. Clear communication with vendors and
stakeholders is essential to prevent misunderstandings.
Weather Contingencies: Given the popularity of outdoor weddings, particularly during
specific seasons, having contingency plans for adverse weather conditions is critical.
Legal Documentation: Ensure all contracts are comprehensive, legally binding, and
culturally sensitive, preventing disputes and ensuring smooth collaboration.
significance of maintaining work ethics and dignity codes within the event industry.
Significance of Work Ethics and Dignity Codes in the Indian Event Industry:
The Indian event industry, rooted in cultural values, places high importance on
maintaining work ethics and dignity codes:
Client Trust: Clients in India value professionalism and ethical conduct, leading to
stronger client relationships and increased trust, which is vital for business
sustainability.
Reputation: reputation is built on trust and ethical conduct. Maintaining high standards
contributes to positive industry perceptions, attracting clients and partners.
Employee Morale: relationships are valued, a workplace with strong ethics boosts
employee morale, leading to a more productive and cohesive team.
Legal Compliance: Adhering to dignity codes ensures legal compliance, and in a country
with complex regulations, it helps avoid legal issues that may tarnish the industry's
image.
steps and strategies involved in crisis management for events. Provide examples of
successful crisis resolution in different event genres.
Communication Protocols:
Example: During a corporate event where a speaker canceled last-minute, prompt
communication with attendees about the replacement speaker maintained the event's
success.
Adaptation of Plans:
Example: In a wedding scenario where a venue faced unexpected issues, quick
adaptation involved relocating the ceremony to a nearby backup venue, ensuring a
seamless event.
Post-Crisis Evaluation:
Example:After a technical glitch in a technology conference, a post-event evaluation
identified the root cause, leading to improved technology infrastructure for future
events.
Sustainable Transportation:
Example: Encouraging the use of public transport, cycling, or carpooling to reduce
carbon emissions during transportation to and from events.
Educational Campaigns:
Example:Conducting awareness campaigns among attendees, vendors, and staff about
sustainable practices, creating a culture of environmental responsibility.
Top Management:
Strategic decision-making, overall supervision, client relationship management.
Innovation:
A supportive work culture fosters creativity and innovation, crucial for unique event
concepts that resonate with India's culturally diverse audience.
Efficiency:
- A collaborative and positive work culture enhances efficiency in task execution
and problem-solving, essential for the dynamic nature of event management in
India.
Client Relationships:
- A culture of professionalism, respect, and client-focused values strengthens
client relationships, critical for long-term success in the Indian event industry.
Idea Generation:
- Begin with a unique business idea, considering market gaps and
potential opportunities. What kind of service/ product company will you
create
Market Research:
Conduct thorough market research to understand the industry, competition, and target
audience.
Business Plan:
Develop a comprehensive business plan outlining goals, strategies, and financial
projections.
Choose a legal structure (sole proprietorship, partnership, private limited company) and
register the business with the Ministry of Corporate Affairs.
Identify the type of business entity you are forming (e.g., sole proprietorship,
partnership, LLP, private limited company, etc.).
Register your business entity with the appropriate regulatory authorities. For example,
register a company with the Ministry of Corporate Affairs (MCA) for private limited
companies.
Open a bank account in the name of the business entity. The PAN and registration
documents will be required for this.
Ensure proper maintenance of books of accounts and financial records. This is crucial
for accurate tax filing.
GST is a comprehensive indirect tax applicable to the supply of goods and services.
Event management companies need to register for GST if their annual turnover exceeds
the 20 lacs prescribed threshold limit.
Event management services are generally classified under the service sector. The
applicable GST rates may vary based on the nature of services provided.
Event management companies are required to file regular GST returns, such as GSTR-
1 for outward supplies and GSTR-3B for monthly summary returns. Compliance with
GST regulations is crucial to avoid penalties.
Business entities, including event management companies, must file their income tax
returns annually. The appropriate ITR form depends on the structure of the business
entity (e.g., sole proprietorship, partnership, private limited company).
If event management companies make payments to vendors or contractors above a
certain threshold, they may be required to deduct TDS and remit it to the government.
Compliance with TDS provisions is essential.
Businesses are required to pay advance tax if the estimated tax liability for the financial
year exceeds a specified limit. This is typically paid in installments during the financial
year.
Some states in India levy professional tax, and businesses are required to register for
and comply with the professional tax regulations.
The process of opening a current bank account for a business in India may vary slightly
depending on the bank and the type of business entity. Here is a general overview of
the steps involved in the bank registration process:
1. **Choose a Bank:**
- Select a bank that suits the needs of your business. Consider factors such as branch
accessibility, services offered, fees, and any specific requirements for business
accounts.
Submit the filled account opening form along with the necessary documents to the
bank. The bank may verify the original documents and retain copies.
The bank will conduct a verification process, which may include checking the details
provided and verifying the authenticity of the documents submitted.
Authorized signatories may be required to provide their signatures and photographs for
the bank's records.
Make the initial deposit as required by the bank. The amount varies from bank to bank.
Once the account is successfully opened, the bank will provide you with account details,
including the account number and other relevant information.
the bank provides online banking services, you may need to activate internet or mobile
banking for convenient access to your account.
Icollect the cheque book and debit card associated with the current account.
Be aware of and maintain the minimum balance requirement as specified by the bank.
Failure to maintain the minimum balance may result in fees or penalties.
Udyam Definition:
The government revised the definition of MSMEs based on the criteria of investment in
plant and machinery or equipment and turnover. As of my last update, the
classification is as follows:
• Micro Enterprise: Investment up to Rs. 1 crore and turnover up to Rs. 5 crore.
• Small Enterprise: Investment up to Rs. 10 crore and turnover up to Rs. 50 crore.
• Medium Enterprise: Investment up to Rs. 50 crore and turnover up to Rs.
250 crore.
The registration process for Udyam is typically done online, and businesses can register
through the official Udyam Registration portal. Here is a general outline of the process:
• Visit the Udyam Registration Portal: Access the official Udyam Registration
portal (https://udyamregistration.gov.in/).
• Provide Aadhaar Number: Aadhaar number of the business owner or
authorized signatory is usually required for registration.
• Fill in the Udyam Registration Form: Complete the online registration form
with details such as business name, type of organization, PAN, GST, and other relevant
information.
• Verification of Aadhaar Details: The system typically verifies the Aadhaar details
through an OTP (One-Time Password) sent to the registered mobile number.
• Verification and Submission: Review the entered details, make necessary
corrections, and submit the form.
• Udyam Registration Certificate: After successful submission, a Udyam
Registration Certificate with a unique Udyam Registration Number (URN) is
generated. This certificate is considered as proof of MSME registration.
Financial Risks:
Insufficient funding, budget overruns, or unexpected expenses can pose financial
challenges.
Starting an event management company can be an exciting venture, but like any
business, it comes with financial risks. Here are some financial risks that a young startup
event management company may encounter:
Many startups face cash flow issues, and event management companies are no
exception. Cash flow challenges can arise due to delayed payments from clients or
upfront expenses for events.
The event management industry can be highly competitive. New startups may face
challenges in attracting clients, especially when competing with established companies
with a proven track record.
Relying too heavily on a small number of clients can be risky. If a major client decides to
switch to another service provider or reduce their events, it could have a significant
impact on the startup's revenue.
Event planning can be seasonal, and demand may fluctuate. Predicting the exact volume
of business each month can be challenging, making it difficult for startups to plan and
allocate resources effectively.
Dependency on specific suppliers and vendors can pose risks, especially if they face
financial difficulties or fail to deliver as expected. It's essential to have contingency plans
in place.
Failure to comply with regulatory requirements or obtain the necessary licenses and
permits can result in fines or business disruptions. It's crucial to be aware of and adhere
to local regulations.
Building brand awareness and acquiring clients require marketing efforts, which can be
costly. Startups need to allocate budget for effective marketing strategies while
maintaining a balance with other operational expenses.
Events are inherently unpredictable, and unexpected expenses can arise. Whether it's
due to last-minute changes, emergencies, or other unforeseen circumstances,
startups need to be prepared for unexpected costs.
Established companies with a proven track record often dominate the market. They
have experience, a portfolio of successful events, and established client relationships.
New startups must find ways to differentiate themselves from these competitors.
The rise of digital platforms and online event services has introduced new competitors.
Platforms that facilitate event planning, ticketing, and virtual events pose challenges
and opportunities for traditional event management companies.
Freelancers and independent event planners may offer competition, especially for
smaller events. These individuals often have lower overhead costs and can be agile in
meeting client needs.
Companies offering event management software and technology solutions can impact
the traditional event planning model. These solutions may enhance efficiency and
reduce costs, attracting clients seeking tech-driven approaches.
Building and maintaining strong relationships within the industry are crucial. Companies
with extensive networks and positive industry relationships may have a competitive
advantage in securing clients and partnerships.
Price can be a significant factor in the competition. Some clients may prioritize cost
over other factors, putting pressure on startups to offer competitive pricing while
maintaining profitability.
Established brands with strong marketing and brand recognition have an edge in
attracting clients. New startups must invest in effective marketing strategies to increase
visibility and build a positive brand image.
Online reviews and testimonials play a vital role in the decision-making process for
clients. Positive feedback and a good reputation can help a startup stand out,
while negative reviews can be detrimental.
Regulatory Compliance:
Navigating complex legal and regulatory requirements in India can be challenging for
startups.
- **Talent Acquisition:**
- Recruiting and retaining skilled professionals, especially in competitive industries, is a
common challenge.
Talent acquisition and retention are critical challenges for startups, including those in
the event
Startups often have limited financial resources, making it challenging to compete with
larger companies in terms of salary and benefits. Attracting top talent on a
constrained budget requires creative and strategic approaches.
New startups may lack brand recognition, making it difficult to attract experienced and
skilled professionals who may prefer established and reputable companies. A strong
employer brand is crucial for attracting top talent.
The event management industry requires a diverse set of skills, including planning,
coordination, marketing, and creativity. Finding individuals with the right mix of skills
can be challenging, especially when there is a shortage of talent in specific areas.
The event industry is competitive, and startups often compete with established
companies for the same pool of talent. Convincing skilled professionals to join a startup
over a more established competitor can be a hurdle.
Startups and potential employees may have different expectations. Employees may seek
stability and well-defined roles, while startups may require individuals who are
adaptable and willing to take on varied responsibilities.
Inefficient recruitment strategies can lead to a mismatch between the skills needed and
the skills possessed by potential hires. A lack of a clear recruitment strategy may result
in hiring individuals who are not the best fit for the company.
The event industry is known for its demanding schedules, and maintaining a
healthy work-life balance can be challenging. Long and irregular hours may lead to
burnout, contributing to employee turnover.
Startups may struggle to offer competitive salaries and benefits compared to larger
corporations. Employees may be enticed to leave for better financial packages,
especially if their skills are in high demand.
Job security can be a concern for employees in startups, given the uncertainties
associated with new businesses. If employees perceive a high level of risk or instability,
they may seek more secure employment elsewhere.
A lack of engagement and a disconnect between employees and the company's mission
and values can contribute to turnover. Employees who don't feel connected to the
company may be more likely to leave.
As startups grow and succeed, they face the risk of losing their top performers to larger,
more established companies that can offer greater opportunities, benefits, and stability.
Offer training and development programs to enhance the skills of existing employees,
promoting a culture of continuous learning.
While financial incentives may be limited, startups can offer unique non-financial
benefits such as flexible work schedules, remote work options, and a positive company
culture.
Ensure a comprehensive onboarding process to help new hires integrate into the
company culture and understand their roles and responsibilities.
Clearly communicate potential career paths within the organization, even if the
structure is relatively flat. Highlight opportunities for growth and advancement.
Encourage and support a healthy work-life balance by setting realistic expectations for
workload and providing resources for stress management.
Develop strong and supportive management that values and supports employees,
providing mentorship and guidance.
Register the company with the Ministry of Corporate Affairs (MCA) in India.
Obtain PAN (Permanent Account Number) and TAN (Tax Deduction and Collection
Account Number) for tax purposes.
Live Events:
Brands often set up interactive zones within live events, such as music festivals or trade
shows. These zones feature engaging activities, product demonstrations, and
opportunities for attendees to experience the brand firsthand.
Incorporating virtual reality into live events allows brands to transport attendees
to different environments or provide virtual product experiences. For example, a
travel brand might use VR to showcase destinations or hotel amenities.
Brands often create pop-up shops within live events, enabling attendees to browse and
purchase products on-site. These pop-ups provide a physical touchpoint for the brand
and enhance the overall event experience.
In sports and entertainment events, brands create fan engagement zones with
activities like games, photo booths, and contests. These zones deepen the connection
between the brand and the audience in a fun and memorable way.
Corporate Events:
For corporate events, brands often go beyond traditional presentations and create
immersive product launch experiences. This could involve interactive demos, hands-on
product testing, or even themed environments that showcase the product's features.
Rather than traditional training sessions, brands may opt for interactive workshops and
training programs that engage employees through hands-on experiences and
simulations.
In the era of remote work, brands have adapted experiential marketing to virtual
events. This includes creating immersive virtual environments, incorporating
gamification, and sending event kits to participants for a more tactile experience.
Regardless of the setting, it's crucial for brands to maintain consistency in messaging
and branding elements to reinforce their identity.
Brands often use metrics like social media engagement, survey responses, and direct
feedback to measure the impact of experiential marketing initiatives.
Tailoring experiences to the preferences and interests of the target audience enhances
the effectiveness of experiential marketing.
Integrating digital technologies, such as VR, AR, or social media, amplifies the reach and
impact of experiential marketing efforts.
SPONSORSHIP & BRANDS :
Sponsorship plays a significant role in brand building through event management and
experiential marketing. By associating with events, brands can create memorable
experiences, engage with their target audience, and enhance their overall brand image.
Sponsoring well-known events allows brands to leverage the event's existing popularity.
The positive association with a widely recognized event enhances the brand's visibility
and credibility.
Event sponsorship enables brands to engage directly with their target audience.
Through experiential marketing activations, brands can create interactive and
memorable experiences that resonate with attendees.
Brands can strategically select events that align with their target demographic. This
ensures that the sponsorship efforts reach an audience that is more likely to be
interested in and engaged with the brand.
Associating with reputable events can enhance a brand's credibility. Consumers often
perceive sponsors of well-executed events as trustworthy and successful companies.
Sponsoring events within a specific industry or niche positions the brand as an industry
leader. This can lead to increased market share and a competitive edge.
Sponsoring local or community events allows brands to engage with their immediate
audience. This localized approach can contribute to community building and brand
loyalty.
Brands can align their sponsorship with social causes or CSR initiatives. This not only
enhances the brand's image but also demonstrates a commitment to making a positive
impact on society.
Brands can measure the success of their sponsorship through various metrics, including
social media engagement, brand mentions, website traffic, and sales data. Analyzing
these metrics provides valuable insights into the return on investment (ROI).
Events provide an opportunity to collect consumer data and feedback. Brands can use
this data to refine their marketing strategies, understand consumer preferences, and
tailor future sponsorship efforts.
Consistent sponsorship of events over time builds a lasting association between the
brand and the event. This long-term presence contributes to sustainable brand building
efforts.
Sponsorship Marketing:
Sponsorship enhances brand visibility by associating the brand's name and logo with the
event. This visibility extends to event materials, promotional content, and onsite
branding, reaching a broad audience.
Brands can engage with the event's audience through experiential marketing,
interactive booths, and promotional activities. This direct engagement helps build a
connection with consumers.
Brands can strategically choose events that align with their target demographic,
ensuring that sponsorship efforts reach the intended audience. This targeted marketing
approach enhances the relevance of the brand to the event attendees.
An Emergency Action Plan (EAP) for events is a crucial document that outlines
procedures and protocols to be followed in the event of an emergency. It is designed to
ensure the safety and well-being of attendees, staff, and participants. Here's a step-by-
step outline of key components for developing an Emergency Action Plan for events,
along with examples:
Identify potential hazards such as extreme weather conditions, fire risks, medical
emergencies, and security threats.
Designate individuals responsible for key roles during emergencies, such as event
organizers, security personnel, medical staff, and communication coordinators.
Establish a communication chain and methods, including radios, phones, and public
address systems. Designate a spokesperson for official updates to attendees and the
media.
Clearly define evacuation routes and assembly points. Communicate these routes
through signage and announcements. Ensure that staff and attendees are familiar with
the evacuation procedures.
Establish contact with local emergency services. Provide them with event details,
location maps, and contact information in advance. Coordinate drills and walkthroughs
with emergency responders.
Identify medical stations and first aid locations. Train staff in basic first aid, and ensure
the availability of medical personnel, equipment, and supplies. Establish communication
channels with local medical facilities.
Conduct fire drills and ensure that fire exits are clearly marked. Establish procedures for
extinguishing small fires and evacuating the venue in the event of a larger fire.
Implement security measures such as bag checks, metal detectors, and security
personnel. Coordinate with law enforcement for additional security support.
Account for individuals with special needs or disabilities. Ensure that evacuation
procedures and communication methods are accessible to all attendees.
Establish a system for reporting and documenting incidents. This includes injuries,
security concerns, or any disruptions. Maintain a log of all incidents and the
corresponding responses.
Conduct a debriefing session after each event to evaluate the effectiveness of the
Emergency Action Plan. Identify areas for improvement and update the plan
accordingly.
Regularly train staff and conduct emergency drills to ensure everyone is familiar with
their roles and responsibilities. Simulate various emergency scenarios to test the
effectiveness of the plan.
Regularly review and update the Emergency Action Plan based on changes in the event
structure, venue, or local regulations. Ensure that all staff members are informed of any
updates.
Presenting event concepts to potential sponsors for a live event involves a strategic and
compelling approach to secure their support. Here is a concise summary of the process
involved:
Before creating the event concept, understand the potential sponsor's objectives,
target audience, and marketing goals. Tailor your event proposal to align with their
specific needs.
Create a comprehensive event concept that includes details such as the event theme,
goals, target audience, proposed venue, schedule, and unique selling points. Clearly
articulate how the event aligns with the sponsor's brand.
Define various sponsorship levels and opportunities within the event, such as title
sponsorship, category sponsorship, or branding opportunities. Specify the benefits and
visibility each level offers to potential sponsors.
Clearly outline the return on investment (ROI) sponsors can expect. This could include
brand exposure, lead generation, direct engagement with the target audience, and post-
event marketing opportunities.
Enhance your presentation with visuals, multimedia elements, and mock-ups to help
sponsors visualize their brand's presence at the event. Use images, videos, and graphics
to make the proposal engaging and memorable.
Tailor your presentation for each potential sponsor. Address their specific needs and
show how your event can meet their marketing objectives. Personalize the proposal to
demonstrate a clear understanding of their brand.
Showcase successful events you have organized in the past, emphasizing the positive
outcomes for sponsors. Use case studies, testimonials, or key performance
indicators (KPIs) to build credibility and demonstrate your event management
expertise.
Once an agreement is reached, execute contracts promptly. Fulfil all obligations outlined
in the sponsorship agreement and maintain clear communication with sponsors
throughout the event planning and execution phases.
By following this process, event organizers can effectively present compelling event
concepts to potential sponsors and establish successful partnerships for live events.