These days it gets harder to connect on a more personal level with your customers. Sure, your business might use social media for that added reach factor, but sometimes that is not enough to get that personal connection that every business craves.
Has your business looked at Event Marketing as part of it’s content strategy in 2018? If not, check it out! Even to just research the opportunity for 2019!
What is Event Marketing?
Event marketing is a powerful marketing tool that provides customers with a real-time and tangible experience, unlike any other marketing method. Whether it’s a personal company event or part of a trade-show concept, events have historically been a successful method for companies to not only build brand personality but directly results in higher conversion rates.
Why should you invest your marketing dollars into event marketing?
Due to the organization and resources required to host a effective event, event marketing can often take up a large amount of a brands marketing budget, and therefore many companies have shied away from it in the past. But this is a mistake. In fact, 93 percent of consumers said live events had more of an influence on them then generic methods like TV advertisements.
Brands are investing in live event marketing, with 75 percent of companies with event budgets between $50 and $100 million saying they expect an ROI of more than five to one for event and experiential programs.
Here are three reasons why you should invest in event marketing:
- Increased Brand Equity: When running a business, perception and reputation is everything. Through brand efforts, good products and customer service, firms slowly build positive brand perception that can influence long lasting and strong relationships with customers. Event marketing is an exceptional way to build positive engagement with your current and potentially new customers. In addition, the more positive engagment that you have built, the better the brand reputation.
- Increased ROI (Return On Investment): As a business owner, achieving a postive ROI is one of the best feelings in the world. Knowing your gamble paid off and your earned a nice tidy profit. With this goal in mind, event marketing is definely an option. Whether it’s something simple, like Samsung’s live HD projector display at the 2010 Mobile World Conference that showed off the advanced graphics of their new smartphone, or a larger event that takes hours of organization like the annual Macy’s Thanksgiving Day Parade — event marketing gives consumers a first-hand experience with your products, which often leads to more conversions. In fact, according to a study done by Statista, 44 percent of marketers receive a 3:1 ROI with event marketing.
- Generate Excitement and Get Feedback: Taking away technical marketing terms like brand equity and ROI, at its most basic level, event marketing provides your consumers with a fun and exciting experience. You want to provide a unique experience for your audience, while showcasing your company’s strengths.Events also offer the opportunity for consumers to provide valuable feedback to brands, who can use it to further improve on their products and brand experience.
Whether it’s a small event of a large-scale operation, event marketing is a unique marketing tool that gives retailers and all types of businesses the chance to speak directly to customers. While it may increase your marketing budget and involve additional man power, this form of marketing offers a number of benefits to any brand willing to make the effort.