Consumers today are bombarded with advertisements and sales pitches, many have essentially become blind to them. Engaging with a potential customer is therefore increasingly challenging. A way to effectively do this is through events. Events enable you to have personal contact with potential customers and make a connection with them, a vital part of the sales process. Events can inspire and engage attendees in a way that no other marketing activity can.
Event marketing describes the planning and hosting of an in-person or real-time event in order to promote a brand, product, organisation or cause. These events can be both online and offline and can range from a few people meeting for breakfast to hundreds of thousands gathered for a trade show.
The UK events industry was worth £42.3 billion in 2019, and although it was hit hard by the Covid pandemic, it is starting to recover and expected to grow in the future. One consequence of the pandemic has been the dramatic rise in virtual events which were all that was permitted for a couple of years. This trend is likely to continue in some form, with many large events becoming hybrid events, maintaining a virtual element.
Benefits of Event Marketing
Hosting an event can bring a business many benefits:
1. Brand awareness –
attendees are exposed to your brand in a live situation. You can use this opportunity to explain exactly who you are and what you stand for. 64% of event marketers stated that the main reason for hosting events is brand awareness for their company or products. In a world where most marketing is done online, events enable you to immerse consumers in an experience that demonstrates your brand to the full. Event marketing will also bring you word-of-mouth benefits – people talk about events, both in-person and online.
2. Lead generation –
95% of marketers believe that in-person events can have a big impact on generating new business. Attendees are generally there because they are interested in products like yours and are in a position to buy. No other form of marketing will put your brand in front of a large number of qualified potential leads.
3. Customer engagement –
events give you the opportunity to interact with customers on a one-to-one basis. You can really explain your product and business to them in a way that is difficult online. This personal engagement can translate into brand loyalty, so customers are likely to keep buying from you. Many ecommerce brands don’t get to meet their customers, hosting an event enables you to do this and build a rapport with them. Engaged customers buy 90% more often, spend 60% more per transaction and are up to five times as likely to buy from the same brand in the future, according to research conducted by Rosetta Consulting.
4. Opportunity to educate the industry –
regardless of the type of event you host there is likely to be an element of education involved. The best events aren’t just there to promote a product or brand, but to provide information and entertain attendees. 65% of consumers said live events enabled them to have a better understanding of a product or service, this is dramatically more than digital efforts and TV advertising as methods of recognising and learning about a brand. The most successful marketing strategies aim to educate and inform prospects, with brand promotion on the side.
Types of Event Marketing
1. Trade shows/exhibitions
These are generally large, multi-company events attracting thousands of people. They are industry focused and bring together large numbers of companies from within a particular sphere. Trade shows offer the opportunity to display your products and brands and typically bring in the most leads as the attendees are there to source new products. There may be presentations, talks and workshops held over the event. Because there are so many other businesses it’s important to make your booth stand out. Using a specialist contractor, like Quadrant2Design, will help you create an exhibition stand that really gets noticed.
2. Conferences
Conferences are large events generally hosted by one company, possibly with sponsorship from others. They are more focused on educating and informing attendees about developments in the industry and organisation. They are useful for both B2B and B2C businesses. They offer full agendas of speakers, workshops and networking opportunities.
3. Seminars
Seminars tend to be smaller events with fewer attendees, possibly aimed at existing customers. They offer opportunities to educate in a more intimate setting. They might be useful for networking, relationship building and upselling to existing customers.
4. Breakfasts/lunches/dinners
These are very small events, typically up to 10 people. They are often focused on one particular prospect or customer as a way to build relationships and make connections for the purpose of selling.
5. Virtual events
Virtual events mimic trade shows but in an online environment. They can draw visitors from all over the world who can just log in remotely. Attendees can visit booths, chat with companies, learn more about products and listen to presentations. They are typically live-streamed at a certain time for all attendees.
6. Webinars
Webinars are like seminars but hosted online. They are usually run by a particular company and there to educate and inform attendees. They can happen in real-time or on demand and usually only last 30-60 minutes. Real-time webinars are more interactive, enabling attendees to ask questions and talk to each other, providing networking opportunities. On demand webinars are more about education.
7. Workshops
Workshops are similar to seminars but generally open to the public. Their purpose is to educate, but also promote a particular product or brand. They may take the format of presentations, discussion and practical activities.
8. Launch parties and award ceremonies
These are hosted by individual companies to celebrate the launch of a new business or product, or certain achievements. They can be open to the public or reserved for industry members. Typically they will involve presentations and food and drink. While not product focused, they can be used to remind attendees about the organisation.
Things to remember when hosting an event:
- Make sure you have clear goals in mind. Do you want to raise awareness, educate attendees or generate leads? This will govern the type of event you plan.
- Have a subject or theme that the event is focused on – you need to tell people why they should attend.
- Establish who you are marketing to and how you will reach them – if it is existing customers it’s easy enough to email them, but attracting new prospects will involve more promotion.
- Set a marketing timeline – to gain the maximum attendees you need to market the event months before it actually happens. Set a schedule for social media posts, emails, updating your website and advertising.
- Don’t stop marketing when the event starts – particularly if it is a trade show taking place over several days. Livestreaming some of the content and posting regular updates will draw in more visitors.
- Set key performance indicators to measure the success and ROI of the event.
- Seek feedback from attendees – did they enjoy the event? Find it informative? This will help you plan future events.
- Look for online mentions of your event – if people are talking about it that is usually a good sign.
- Track the leads you gained from the event as a performance indicator – did any become customers? Assess the cost-per-lead of the event.
Organising an event can be a daunting task and involve significant investment, but it is one of the best ways to engage with customers and prospects. No other marketing activity will enable you to interact with people in the same way. Digital marketing has its place, but in today’s busy world it’s easy to get lost amongst the noise. Event marketing brings you closer to your customers and prospects, allowing you to strengthen bonds, increase brand awareness and loyalty, and generate leads.