Question

Topic: Strategy

Breaking Into An Old Market In A New City

Posted by DC Planner on 1/27/2014 at 1:07 PM ET 500 Points
Seven years ago, with a fledgling event planning company, I asked this group for advice and received advice that turned things around for my company. I sincerely thank you all! Today, I'm hoping lightning strikes twice.

I am currently looking to expand my event planning business into a new city, New York City to be exact, and I am trying to think of the best marketing strategy to introduce my business to the city.

I plan to buy advertising, and utilize Facebook and Twitter to get the word out. I plan to attend industry events and exhibit at trade shows, and introduce myself to local vendors and venues on a personal level (over coffee or lunch). I've also already joined the local Chamber of Commerce. However, I feel these are the easy ideas and that I need a real gem get people's attention in this very competitive market. Any suggestions?

Thank you so much for your time.
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RESPONSES

  • Posted by mgoodman on 1/27/2014 at 1:19 PM Moderator
    Probably best to focus on a sub-segment of the market first. Perhaps you can pick the narrow target based on your experience in your home city. Then just go after that segment in NYC. Do your research. Conduct information interviews with decision-makers who are in that segment. Start out as a specialist in your niche.

    Once you have a few successes under your belt, expand to other, similar segments ... and so on, until you cover as broad an audience as you can handle.

    The key is to focus your efforts initially.
  • Posted by DC Planner on 1/27/2014 at 1:26 PM Author
    mgoodman - so sorry, I didn't realize I posted twice when I changed my question from very difficult to difficult, is there anyway to delete a duplicate posting?
  • Posted by DC Planner on 1/27/2014 at 2:24 PM Author
    Hi Carrie,

    It appears to have already been deleted. Thank you!

    mgoodman - Thank you for the response; I appreciate it.
  • Posted by Jay Hamilton-Roth on 1/27/2014 at 4:29 PM Accepted
    Can you leverage your existing name/reputation in establishing yourself in NYC? For example, venues that are in both DC & NYC (hotels) and/or organizations/clients that are in both locations (companies, planners, etc.)?
  • Posted by Peter (henna gaijin) on 1/27/2014 at 5:08 PM Member
    I am with Jay - leverage whatever you can from your current business to help build the new business. Work with vendors (hotels and such) that have businesses in both cities. Also work on getting current customers who have also do business in NYC to be customers in that new (to you) area.
  • Posted by Moriarty on 1/27/2014 at 5:51 PM Accepted
    Hi there - now: you have a successful business which has been running for a while now. That means satsified clients - and more importantly, referrals. Think hard: what have people told you on arriving - and they arrived because someone told them about you.

    What did they say?

    Because when you take all these references together - you'll find that there's always something that makes your business special. If needs be do a SWAP test (it's in Wikipedia) and check out your competition - and watch where you diverge.

    Because this is your strength. It need not be much, for your best customers won't need much telling when they know it's exactly what they want.

    If you focus on this, the rest of your marketing plan should fall into place. Because marketing's all about telling the right people about your business. And since you're in the USA, the new Facebook algorithm is fantastic. You can drop your email list into it and just let it purr. It'll come back with some to-die-for info about what your target audience like (and don't!).

    I wish you the best of luck in NYC. If you're doing well in DC, you'll find a similar group of people who'll rave about what you do.
  • Posted by Gary Bloomer on 1/27/2014 at 6:31 PM Member
    What kinds of events are you known for planning and for whom? Rather than opting for Facebook advertising you may generate a higher rate of return through introductions, recommendations, and personal testimonials via LinkedIn. Who knows the people you know?

    The market in NYC is huge, so is the competition. For the broad-phrase match in Google search for the term "event planner NYC" there are 3,610,000 pages of results. How well you succeed will depend largely on how well you stand out for whoever it is that uses or that needs your services.
  • Posted by DC Planner on 1/27/2014 at 8:07 PM Author
    Moriarty - Does a SWAP test have something to do with financials? I'm searching Wikipedia, but I'm not sure I'm finding the right information.
  • Posted by DC Planner on 1/27/2014 at 8:12 PM Author
    Gary - We do special events for small non-profits, and weddings.
  • Posted by Gary Bloomer on 1/27/2014 at 9:23 PM Member
    OK then: begin reaching out to small non-profits and to wedding venues in and around NYC. Ask current and former clients for recommendations FIRST, then begin reaching out via LinkedIn, through one-on-one appointments, and through telephone calls and direct mail. Show how you have amazed people, how you have gone beyond their expectations, and how you have come in under budget time and time again. Good luck!
  • Posted by Moriarty on 1/28/2014 at 3:47 AM Member
    DC - my apologies it should have read "SWOT" test (it was really late at night). No, I hadn't been on the booze ;-) You can find it here: https://en.wikipedia.org/wiki/Swot_analysis

    If you are providing quality, you will find that people will value your service more than the money they pay you. Work out who values you and who doesn't - and your marketing plan will fall into place.

    And now for a fix of coffee .... :-)
  • Posted by saul.dobney on 1/28/2014 at 5:34 AM Accepted
    Another option is to tell your existing clients that you're opening in New York. Offer a 'launch promotion' that they can communicate to their friends (and friends of friends) in NY - eg a discount for the first set of events you do in NY, a prize draw for one free NY event to be planned by you, or a launch party bringing together people who know of you, with those who are new to what you do.
  • Posted by DC Planner on 1/28/2014 at 4:09 PM Author
    Thanks everyone for all of your great advice. I truly appreciate it.
  • Posted by Moriarty on 1/28/2014 at 5:35 PM Member
    Good luck in the Big Apple! (Do you still call it that?)
  • Posted by DC Planner on 1/28/2014 at 8:42 PM Author
    Moriaty - I hope so, I've used it in my ad.

  • Posted by talentunltd on 1/29/2014 at 10:35 AM Member
    Your ideas seem good but they are cost and time consuming. Secondly, for us to respond to your needs, you haven't defined your target audience nor have you mentioned to us the kind of events you plan.
  • Posted by DC Planner on 1/29/2014 at 11:50 AM Author
    Hi talentunltd,

    We plan special events for small non-profits (dinners, galas, holiday parties) and weddings. Our target customers are businesses and engaged couples. Does this help? Thanks!
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