Thursday, January 27, 2022

Route To Market strategies

What I've considered when looking at RTM options:
  • I am selling to consumers
  • I want to actively persuade them to pay for my service
  • The consumers may need to be able to inspect the service (e.g. have songs to listen to, plot line for the musicals)
  • This is likely a mid-range purchase
  • My business will hopefully be both national and international as I will have both live performances and recorded performances to share online

Selling online is likely the best strategy for me because I'm not selling a physical product, but rather tickets to my theatre performances (live and possibly digital). It also makes my business easy to access because the internet is available to nearly everyone, everywhere. This means there shouldn't be many location barriers because those who aren't willing to travel will be able to access the productions online.

These days, most theatre tickets are sold through another website, instead of from the company/production's own website. For example, on 'todaytix' you can buy tickets for practically all of the shows in London and across America, not just musicals. This website also often has special offers on tickets for certain shows, which would entice a larger audience who can't quite afford the typically expensive tickets. Information about the shows is also provided such as a synopsis, show dates, warnings (e.g. strobe lighting), age suitability, the venue and what genre the show is. This allows potential consumers to know exactly what they're buying, which increases their trust in the website. Using these well known ticket websites would promote my productions to a larger audience who are already interested in theatre without having to do much promotion myself. 

There's also news websites that focus primarily on theatre, such as 'The Stage, a British newspaper and website that covers the entertainment industry with theatre as a specific focus. It's highly well known, so a website like this producing an article about my company would be a great way to reach a wide, theatre-loving audience. There's even a page where theatre tickets can be purchased, so people could easily get them straight after reading about a particular show. However, The Stage is UK based, which would make it more difficult to access more international consumers. They also produce reviews, which can be risky when a negative review could be written and promoted to everybody, which would discourage a large amount of people from engaging with my company and its productions. 

Social media is also a particularly effective way of promoting anything to a large audience because so many people use it every single day. However, not everybody uses every social media platform, so I would need to make sure I make profiles on the socials my target demographic would mainly use. I believe Instagram and TikTok would likely be the best platforms to use because my main customers are creative people and are younger adults. These are also all very visual platforms so I'd be able to share eye-catching and promotional images and videos. However, on Instagram, you have to pay to promote your posts. You determine the cost depending on how long you want the promotion to last and how many profiles you want to reach. It is possible to promote without spending money (e.g. sharing posts on your story, using hashtags, tagging people, linking people to your profile), but this method takes a lot longer. There are sponsored ads on TikTok, but it's much easier to gain recognition on it over Instagram. Anything that catches people's attention can quickly become popular as people like and share and comment, which then catches the eye of more people and it quickly grows. Using popular audio, hashtags and doing popular trends (but in a unique way) is the best way to gain popularity on the platform.

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Marketing plan

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