Businesses who don’t take advantage of highly visible public events like the upcoming Coronation are making a very big mistake.
They could well find themselves missing out on an opportunity to make money.
“We know bank holidays are an economic boost to the (tourism) industry, with the money generated going into local businesses and economies, supporting jobs,” states Patricia Yates, CEO of Visit Britain. She continues, “It’s a fantastic opportunity for both domestic and international visitors to have an extra special short-break, or a day-out, enjoying the once in a lifetime celebrations and show-stopping events for the coronation.”
Royal events complete with massive pageantry create a massive boost to the economy. Queen Elizabeth II’s Platinum Jubilee celebrations last year led to a £6.37 billion economic boost simply as a result of tourism over that weekend plus Jubilee spending.
Research carried out by the Centre for Retail Research revealed that over £280m was spent on Platinum Jubilee gifts, souvenirs and memorabilia. Those sales included ten million flags, six million mugs and one million books and royal pictures such as postcards. Such demand is not confined to the UK. Sales generated internationally online are massive, particularly in the US. In view of the fact that any royal event including anniversaries, weddings and the birth of a Prince or Princess results in the sale of millions of pounds of merchandise, a Royal Coronation is likely to attract even greater attention.
After all, there has not been a coronation, with all its glitter and pageantry, for over seventy years. It has been even longer since the last time a British King was crowned in 1937. Three generations of direct Royal heirs are taking part in this coronation – King Charles III who was the Prince of Wales and royal heir for seventy years, Prince William now Prince of Wales who will pay homage to his father, while the next in line Prince William’s son Prince George will act as a page boy for his grandfather. With glittering processions including the use of the magnificent Gold State Coach, and the dramatic ceremony in which the King wears the stunning crown of St Edward for the first time it is set to be an extremely colourful occasion.
Despite the fact that there is only a short time before the Coronation takes place, businesses can still maximise the potential marketing opportunities as long as they act fast.
The potential options are massive. Creating promotional merchandise is an obvious option. Flags, bunting, mugs, masks, pictures are guaranteed to sell or be appreciated if being donated to charities and community organisations. Numerous companies have already started bringing out themed merchandise, particularly limited editions of food products. Heck Sausages have launched a regally packaged Coronation sausage and Marks& Spencer’s have commemorative tins complete with teabags or biscuits.
What about sponsoring a charity or community event?
Businesses gain considerable publicity from such actions, both during the event and in the run up to it since it provides great social media visibility, and helps promote a good public image. There are quite often lots of people who would like to take part but cannot due to circumstances, perhaps because they are homeless or disabled. Sponsoring food & drink for a party, or setting up a special Coronation awards scheme to highlight the impact community groups and charities can make are among the possible options available. Give it a red carpet ambiance by hiring a compere and renting a crowd!
Such activity can be undertaken at short notice as long as you give the support and help they need to organise it especially on the day.
Whatever the event or marketing method chosen, ensure that you maximise the promotional impact for your business by ensuring it is staffed appropriately. If you are launching celebratory food, why not host sampling campaigns? Hire specialist sampling staff who can encourage consumers in store, or at events to taste the products. Extra staff are always needed to hand out promotional merchandise during an event.
Don’t forget too that everyone likes a selfie – so why not have your promotional staff organise photographs adjacent to life size cut outs of members of the Royal Family? Or how about hiring a character mascot and adding red, white, blue adornments as well as a crown? It certainly adds to the colour and spectacle! Legoland have already indicated that they are planning a royal theme complete with their mascots and special drinks.
The Coronation is definitely an opportunity not to be missed. Just make sure you take action quickly. Create your marketing ideas (or even ask us for some suggestions!) and book your promotional staff, character mascots and sampling staff now.