This year, masses of people will head to Munich, Germany, to participate in Oktoberfest, a weeks-long party celebrating the best in beer, bratwurst and family entertainment. Throughout its course, the event attracts about 7 million people, all of whom want to be a piece of one of the largest celebrations in Europe.
The event, which is now in its 180th year, attracts both locals and tourists from around the world. With its massive beer tents, people gather in the streets to celebrate the festivities alongside one another.
While events inspired by Oktoberfest may fizzle out after even just a few years, the thrill of Oktoberfest hasn’t slowed down in the slightest in the last eighteen decades. Marketers continue to promote it as a piece of German tradition, tied with fun and festivities for all. Our Florida ad agency thinks marketers have plenty to learn from Oktoberfest’s promotions masters – after all, marketing the 180th Oktoberfest should be simple, right? Not without sufficient preparation, of course.
Oktoberfest starts with planning. Down to the last detail, planners coordinate the events months in advance to prepare people for the celebration. It’s with a deep understanding of the target consumer that Oktoberfest’s producers begin to plan the festivities. Through decades of practical knowledge, they’ve grown to understand their target demographic inside and out, are therefore able to effectively market to them.
How do their marketers and promoters do this? Oktoberfest producers are masters at selling the experience. Nowhere else in the world can you find Oktoberfest’s festivities in one place. With a history of toasting, drinking and tradition, the Oktoberfest producers have a unique product that they can sell to the masses. Additionally, because the festivities only come around for a few weeks during the year, there’s also the aura of exclusivity, eliciting the impression that it’s a limited time event worth making the expedition to Germany to witness.
Additionally, Oktoberfest shows us that people are willing to pay a premium for perceived value.[quote]A liter of beer at Oktoberfest may taste exactly the same as a liter of beer at a local pub, but people are willing to pay extra to drink the liter alongside friends while partaking in the revelry.[/quote] The average price of an Oktoberfest pint has risen from $8.49 USD to $12.12 USD over the past decade, but Oktoberfest producers and attendees would argue that it’s well worth the higher price. The takeaway? When assessing your business’s own marketing efforts, carefully consider whether you’ve been optimizing your price per consumer. You might find that it is more expensive to retain a higher value customer, but that higher value customer spends significantly more money with your business.
Additionally, even though the event occurs only annually, its curators keep an active Facebook profile to keep potential attendees engaged throughout the year. The active profile also helps build up anticipation in the weeks prior to the event, and offers a recap of the events as they transpire. They may not have had Facebook at the first Oktoberfest, but the event’s curators are definitely making good use of it 180 years later.
The team at our Florida marketing agency thinks Oktoberfest is about more than just a frosty mug of beer. It’s about the experience of being part of an annual event, one that people flock to from around the world. With nearly two centuries of experience, the team behind Oktoberfest are masters of the art of marketing.
Let our team help you plan an event that your target audience will flock to! Contact us today.