When it comes to your advertising dollars, you need a plan for how to spend them wisely and efficiently. Pouring countless dollars and resources into the wrong platform or space can leave you feeling frustrated and without a solid return on your investment. That’s why you should look to place your ads in a way that maximizes their value.
And that’s why performing arts advertising is a great mechanism for advertisers who want to place their ads strategically.
This may seem counterintuitive. You may think, “The performing arts crowd is smaller. It’s a narrow distribution channel. I’m going to pass and aim advertising dollars at a broader audience.”
While it may seem like conventional wisdom, this line of thinking is mistaken.
It’s true that performing arts program books may have a narrow distribution. However, it is a niche audience, with a very unique, and highly coveted demographic.
Therefore, it’s easy to look at the Cost Per Thousand (CPM) and see the high number compared to traditional media and be scared off by it. Traditionally, when buyers of media evaluate an advertising medium, they highly value a low CPM. However, with performing arts advertising, that would be an unwise conclusion to come to. CPM should not be a consideration when looking at placing advertising in performing arts program books.
The CPM Turned On Its Head
Taking a deeper, analytical look into the customer profile of the performing arts audience tells a completely different story about how to evaluate them as a potential audience and marketing opportunity.
This is where the power of the niche market comes in. The performing arts audience removes the need for advertisers to get bogged down in statistics such as CPM. Performing arts advertising is unique in that CPM should not be considered as a factor of purchase.
You may be marketing your message to a smaller group, but it is a specifically chosen smaller group with one defining characteristic that separates them.
A research study performed by Americans for the Arts found that when it comes to theatergoers in particular, frequent patrons have high incomes. Theatergoers and others who attend the performing arts represent an elite level of buyers. They tend to purchase the most expensive brand names. They are more likely to make investments in luxury items. They also travel more frequently.
While all signs point to a smaller number of total people in this niche, they also point to an elevated economic base. They indicate a higher level of buying power. All this translates to higher levels of expendable income that this demographic is likely to spend. Patrons of performing arts represent a small, niche segment of a larger community’s population.
Sure, performing arts program books may have a smaller distribution, but they have a higher impact. Rather than casting a wide net to a broader audience, think of performing arts advertising as a way to make your advertising dollars work smarter, not harder. Marketing to a niche such as patrons of the performing arts can prove more effective than spreading your message to a larger group that doesn’t possess the same levels of buying power.
The Power Of Performing Arts Advertising
Simply put, performing arts audiences have money to spend and they are willing to spend it.
Don’t think of marketing to performing arts audiences as if you are narrowing your audience. Think of it as segmenting and selecting a subset of a broader audience that is more likely to purchase from you.
Performing arts audiences represent a market that generates high-income levels and is predisposed to make purchases with it. This is a tremendous opportunity to take advantage of an overlooked demographic that can help your business get the most out of your advertising budget. Good selling!