Highly-successful event folds

Festivals worldwide are feeling the pinch - even those which are highly successful. Check out this story.

Communities have to recognize that festivals have a life cycle. Ideas can grow into highly-successful and profitable events. However, as the demographics, attitudes, leadership and lifestyle of residents change, some popular events can go by the wayside.

So it's important to review events - and be honest. How profitable is your event? What percentage of the local residents and businesses participate or support it? Is there a change in sponsorship opportunities? Is your community seeing record unemployment? Are new people moving in with new ideas?

MARKETING TIP: Festival organizers should consider keeping an honest, open eye on their local community. It can tip the scales of a really good event - to none at all.