I was pretty amazed at the stats from a recent economic impact study from Americans for the Arts. This comprehensive study gives us a glimpse at just how important the arts and culture industry is to other businesses.
With 87% of Americans stating the belief that arts and culture are important to their quality of life, there is a good chance that your customers, or the customers of your clients, are attending some form of performing arts event. Are you missing out on a potentially valuable opportunity to place advertisements in the performing arts program books of such events? Or on the digital signage at the venues that host them? Let’s take a dive into some of the information presented in the study and find out.
In addition to showing your clients that their brands are just as fun loving and down to earth as they are, there are many solid, real number reasons to expand their advertising into the arts and culture sphere.
$102.5 Billion to Local Businesses
Look at the study linked to above and you’ll find that visitors to performing arts venues add a whopping $102.5 billion to the revenue of local businesses. These are people actively searching for places to stay, eat, get rides, buy gifts, and more, and each one will spend an average of $31.47 above and beyond the price of their ticket. That is a nice chunk of change going to local businesses. If your clients are not advertising in these advertising outlets that these lovers of the arts are exposed to during the time these needs and cravings arise, then you might as well be directing these customers to the competition of your clients.
Average Per Person Per Event Audience Expenditures: $31.47
Diving deeper into the data behind that $31.47 figure shows how those expenditures line up with the brands you may represent. At over $16, the largest percentage of that number by far is on food. This makes perfect sense. When people go out for an evening on the town, they often include dinner as part of the evening. But it isn’t just the nicer, date-ready restaurants that will benefit from reaching out to patrons of the arts. They could just as easily want a quick meal or snack after the event. Increase the chances of them going to the restaurant you want them to by letting them see that eatery’s ad front and center as they browse through the program book, or see it on the venue’s digital signage throughout the evening.
Places to eat aren’t the only places that benefit from the arts, however. Gifts and Souvenirs make up $4.49 of the total, slightly edging out the $4.48 brought in by lodging providers. Cab companies, ride-share and other transportation services take in $3.09 of the total. Clothing and accessories spending is $1.92. Even the babysitter gets $0.38 for every person who attends a performing arts event. Whatever your client’s business interests are, there is a good chance that a large number of people attending arts and cultural events are a potential customer.
An Opportunity Not to be Missed!
Even if your advertising client’s interests don’t align with the most common spending habits, there’s no reason why you can’t convince patrons of the arts that they need the product or service your clients are selling.
These numbers may sound small until you multiply them by the millions of people that attend these events and see the printed program books or pass the venue’s digital signage. Isn’t it time your clients reached out to these arts loving customers when they are out on the town and actively looking for the services your client businesses provide? Don’t miss an opportunity to tell them so by overlooking this powerful medium called performing arts program book and digital signage advertising. Good selling!