Company: Lunchbox Theatrical Productions
Show: Dirty Dancing in Hong Kong
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1. Target Market overview 2. SOSTAC planning Framework a. Where are we now? b. Where do we want to be? c. How do we get there? d. How exactly do we get there? e. The details of tactics, who does what and when f. How do we monitor performance 3. Conclusion
1. Target Market Overview
Our current target market overview can only come from facebook or google analytics until we start to build on learning from the new “Lunchbox Community”. By building a full psychographic overview of our customer, we will be able to offer them exactly what they want and in the tone, software and frequency that they want it delivered.
Whilst we are not in a position to give exact data on just the Dirty Dancing facebook fans, we have been able to extract data from another of our theatre companies, The Imperial Ice Stars, and the shows that we have recently produced with them. These demographics give an indication that our audiences are similar across all shows are very definitely female and between the age of 25-44. We therefore should keep this target market in mind when creating our digital marketing campaign for Dirty Dancing. You can review this information in Appendix 2.
We have recently learnt that the new changes to Facebook allow any users with over 5000 fans on their page to get a more detailed analysis of their users. This is key to segmenting the LTP target audience for a more focused campaign and is where we need to be with our LTP page to help build the picture of our customer.
2. SOSTAC Planning
I have used the SOSTAC planning framework to review the current digital offering and to develop the new strategy:
S – Situational Analysis- where are we now?
O – Objectives – where do we want to be?
S – Strategy – How do we get there?
T – Tactics – How exactly do we get there?
A – Actions – The details of tactics, who does what and when
C – Control – How do we monitor performance
2a. Situational Analysis – Where are we now?
Lunchbox Theatrical Productions is one of the leading producers of live entertainment in the following territories worldwide: Australia, New Zealand, Singapore, Hong Kong, Manila and South Africa. With over XXXXX tickets sold in these markets in 2012 alone, it is clear that the product we offer is popular worldwide.
However, on further reflection of the statistics, whilst XXXXX tickets have been sold, theatres are only 40-50% full on most nights which proves that the company needs to do better. Add to this the average price of the ticket dropping, and the need for a revision of our marketing offering is evident.
Ticket sales in shows coming to Hong Kong are evidently decreasing in size and the graph below shows this:
You can see that in 2010 when we performed Grease the Musical sales were strong and broke the 25,000 target. In 2012 we did Annie the Musical and that followed a much slower trend with sales only reaching 19,000 and with Dirty Dancing now being tracked, you can see that this show has started selling slower than the other two.
The year on year decrease in Hong Kong is clear and yet the marketing spend does not decrease and nor do the pre-production costs for any show.
The other worrying find on a recent audit of our marketing spend was that the cost of marketing per ticket was almost half the price of the ticket which showed why the profit we are making is dangerously low. You can see how this is made up in Appendix 1.
The recent audit of our marketing campaigns and spend for shows going into Hong Kong highlighted many areas that we needed to work on: 1. Marketing campaigns have no focus on digital and our spend is being capitalised in the same way it was in 2005 a. No money is allocated for any online advertising b. EDMs are used in isolation of any follow-through to build on