Why Location, Location, Location Matters For Your Audience, Marketing And Profits

Dear Reader,

​​​​​​​Hi from New York City, where Mother Nature was over active this past week.

Most of last week, it rained hard and long. As a result, anyone who ventured out during the peak downpour periods wound up waterlogged regardless of how you dressed for the elements. On two separate days, leaks in our kitchen dripped over 2 quarts of water through one of our ceiling lights.

► New York City Feels Earthquake

At 10:23 am Friday April 5th, we felt our building shake. Neither my husband nor I knew what it was until our mobile phones’ emergency alert system announced the incident after it was over. #Useful

Earthquakes in the eastern US with a magnitude of 4.0 can be felt up to 60 miles away from the epicenter. They occur due to faults in the bedrock often miles deep. People have recorded small earthquakes across New York City, Philadelphia and Wilmington since colonial times. (Source)

► Total Eclipse Day

Monday, April 8, 2024 was a Total Solar Eclipse across North America. A solar eclipse occurs when the moon passes in front of the sun as seen from earth. People in the Path of Totality experience the sun completely obscured resulting in temporary darkness.

As it moved from northern Mexico to south-eastern Canada passing through parts of 15 US states, this Total Solar Eclipse will be more spectacular due to the moon’s position. While over 30 million people reside in the Path of Totality, millions are protected to travel to experience this rare natural event.

Path of Total Solar Eclipse Across the US via NASA

While not directly along the Path of the Total Eclipse, about 90% of it was visible from New York City. My husband and I watched from the plaza north of the Flatiron Building, a few blocks from our apartment. The Flatiron NoMad Partnership sponsored educational and photography options across the plaza. Also, they distributed glasses to allow safe eclipse viewing.

Though the moon never totally covered the sun, I felt excited as it moved across the sun’s path leaving a thin fingernail sliver of sun visible. Then it moved from an 11 o’clock position to 6 o’clock position.

My view was framed by the Flatiron Building clad in its metal corset on the left and the buildings of the westside of Fifth Avenue along the bottom. At a few points, clouds had the audacity to obscure our view causing the crowd loudly boo them.

Click this link to view the 2024 Total Solar Eclipse via NASA: https://youtu.be/2MJY_ptQW1o

► Economic Impact of Total Solar Eclipse

Due to the Total Solar Eclipse’s unusual nature, millions of people were expected to travel to prime locations to view it. Considered a YOLO event by many, so travelers opened their wallets to pay for the experience.

For example, one of our neighbors looked more excited than I’ve ever seen her as she and her husband stuffed their car with provisions to head to a house rental in the eclipse’s path. By contrast, one of my friends camped out in Indiana to avoid paying over $500 for one night at a Motel 6, a down scale chain.

The eclipse will generate projected economic benefits in the US according to estimates by The Perryman Group:

• Increase visitor’s direct expenditures to almost $1.6 billion.
• Yield total economic impacts including Including downstream/multiplier effects through the economy of $6.0 billion. This will yield a gain of $3.0 billion in gross product.

Eclipse spending includes housing (including camping, motels and home rentals), food, transportation (including gas) and souvenirs. Many areas in the Path of Totality aren’t regular tourist destinations providing the opportunity for other creative revenue options.

Why does this week’s Total Solar Eclipse matter to your marketing?

• Because Place is one of the 4Ps of Marketing. It translates to location, location, location!

Place refers to your physical location as well as where your potential audience and prospects find your offering. This includes platforms, devices and physical locations where your product is sold or related content and/or advertising is seen.

Total Eclipse Spending In The US By State (As of March 28, 2024 The Perryman Group)

Actionable Place-Related Marketing Tips

• Plan ahead for unusual events like the eclipse. The more unusual the experience, the greater the premium you can charge. For example, my husband and I indulged in a pricey sunrise hot air balloon ride over Cappadocia. Our rationale: It was a once in a lifetime event.
• Work with your local community, suppliers, distributors and retailers where appropriate. This helps you to pool your resources especially in terms of promoting and advertising the event to a larger target audience.
• Take advantage of major events, even if they’re only tangentially relevant to your business. For example, the New York Public Library gave out special eclipse watching glasses including the Library for the Blind.

► Branding: How To Make Your Location A Must-Visit Destination

Last Saturday evening, my husband and I attended the Brooklyn Museum’s First Saturday, a monthly event.

As we emerged from the subway, we were greeted by pale pink Japanese cherry blossoms. Further, the Eastern Parkway–Brooklyn Museum subway stop is one of the most unusual MTA stations since it contains artistic stone pieces plastered into the entry wall.

But, in New York City, the Brooklyn Museum doesn’t stand out.

Why?

Because Manhattan is home to many world class museums and other related institutions and art galleries.

Most notable are the Metropolitan Museum of Art and the Museum of Modern Art. Also, New York City offers many specialized museums, such as the Museum of the American Indian, and museum-like venues such as the main branch of the New York Public Library.

As a result many New Yorkers including Brooklynites never have visited the Brooklyn Museum despite its diverse activities and location next to the Brooklyn Botanical Gardens. For example, a woman we met at the museum told us it was her first visit to the museum despite having grown up in Brooklyn.

As a marketer, I was impressed with how the museum has turned its monthly event into a must-attend community activity. In addition to the current exhibits, it offered a pop up shopping area for local artists, live music and drinks. While I checked out the shops with nosebleed prices, my husband treated himself to a $17 mixed drink.

Under the gaze of the oversized Along the Way wooden sculpture by KAWS, live music played and attracted a large crowd. The women dressed to be seen. The most outstanding woman wore an outfit of hot pink ruffles from her shoulders to the floor.

From a marketing perspective, the Brooklyn Museum’s regularly scheduled First Saturdays have made them a must-go destination for people across the city and beyond.

We left feeling the Museum had captured the current Brooklyn art scene and vibe. Everyone wanted to be there and dressed to show their personality.

While First Saturdays are free for the public to attend, they’re sponsored by Bank of America and a number of government organizations and foundations. For the evening, the museum remains open from 5 pm to 11 pm.

Actionable Marketing Tips

• Hold location specific events on a consistent basis. This enables your community to build the habit of attending.
• Give attendees a reason to share their photos across social media. The Brooklyn Museum had a screen set up for selfies. Despite its branding, people lined up to take their photos. In today’s hashtag and QR code savvy world, I recommend adding these to extend your reach.
• Extend your reach and revenue generation by working with others who have a reason to join you. The Brooklyn Museum promoted local artisans and acquired relevant sponsors.

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