Thursday, September 16, 2010

Developing Economic Impact for Festivals

What is the economic impact of your festival? Some organizers will give a dollar amount they often pull out of the air. Others will say they don't know. I've had some tell me they don't understand why that would be something useful. While others have earnestly wanted to find a way to make the calculation.

The Canadians have figured it out. They developed different surveys to adapt to your event. Is it gated with admission? Is it open with no admission?

The economic impact can help festival organizers seek sponsorships and grants, build collaborative efforts and solidify governmental relationships. Face it, there are members of communities who don't like festivals in their towns.

MARKETING TIP: Take the time to read through the material in this link and learn what goes into establishing economic impact of your festival/event. Seize the opportunity to work with a nearby educational facility to help with the study. Publicize the findings - and seek out partners to help strengthen your festival.

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