Marketing News: Could Event Marketing work for your business?
Could Event Marketing work for your business?
Businesses of all sizes have embraced a multi-platform approach to marketing, engaging with people via social media, emails, outdoor advertising and many other outlets. It’s therefore interesting to see in the latest Bellwether report from the Institute of Practitioners in Advertising where else firms are spending their budgets. While internet marketing budgets predictably increased during the second quarter of the year, as did spending on main media advertising and PR, it was Event Marketing budgets that saw the biggest surge overall.So what is it about Event Marketing that is encouraging firms to invest in it?

Connect with a specific target audience
Many organisations aren’t always trying to reach ‘the masses’ and instead want to engage with specific groups. Special events such as fairs, conferences, trade shows and expos can bring a large number of people in your target group together, so they are a valuable opportunity to reach those with an interest in your field of expertise. Also, it’s not intrusive, as people come to such events specifically to see and learn about what’s on offer, so they should be receptive to your message. By contrast, some traditional advertising methods such as newspaper ads or billboards offer no guarantee that anyone in your target audience will see them.

Networking
Key industry players are generally present at these events which may give you the chance to make valuable contacts who could help to unlock the next phase of your company’s growth. Exhibitions are also a chance to do a little digging into what rival firms are up to and can even reveal insights that help you keep pace with your competition.

Raise brand awareness
Many attendees might not have heard of your business, while those who have might feel you are a more credible and authoritative when visible at industry events. Taking part in events helps to highlight what sets you apart from your competitors. For instance, if you want to show your distinguishing features and personality, you might want to invest in an eye-catching display banner, branded balloons and sweets to attract people to your stand.

Customer engagement
Events can offer brands an opportunity to chat informally with both existing and potential clients and gain valuable feedback and insights into how you are perceived. For example, customers might take the chance to flag up concerns or suggest how your products, services and processes could be improved. And of course, you’ll have an opportunity to showcase your brand and let visitors know more about you. You can also add value to these engagements by offering free samples or a product trial, give out company literature as well as promotional products such as pens, keyrings or notebooks printed with your logo and company details. Such gestures help to build goodwill and provide a lasting reminder of your organisation long after the event.

Businesses are investing in Event Marketing as it lets them communicate directly both with existing customers and prospects in an environment where visitors are generally receptive to interaction. So if you want to engage with your target audience in a stimulating way to make a lasting impression Event Marketing may well be worth your consideration.

 

Sources / Further Reading
Adspend growth forecasts downgraded despite sharp uplift in marketing budgets in Q2 2016 IPA
Event Marketing Marketing-Schools.org
Benefits of event marketing Deliagency