By Aisshwarya Deshmukkh, Co-Founder and CMO, Howdyy
Event marketing pursues the creation of unforgettable experiences for consumers so that they feel connected to the brand. It is one of the main strategies for lead generation and in recent times it has become fashionable among companies when generating added value for consumers which has become essential. Thus, event marketing means taking on a marketing strategy of leveraging in-person engagement.
In event marketing, one develops a themed exhibit, display or a presentation in order to promote a product, service or an organization. Your customers can have an interactive first-hand experience with you by attending an event with your brand or company, providing a true sense of your personality, perspective, and area of focus. This promotional strategy is based on reaching a target audience through direct contact and creating entertainment and emotions that will generate impressions.
Events are still very popular because they are a major marketing trend. Almost 78% of millennials would prefer to spend that money on an event rather than a physical item. There are several measures to determine event marketing success. It's become increasingly common to collect emails or subscriptions at events. Keeping a track of the revenue helps measure the growth of the marketing for a company.
This type of marketing strategy aids in generating new leads or experiences of value to the customers by connecting with the brand and generating interest in it. It is a strategy with high power of diffusion, events spread this way give visibility to the company. At times, events do not generate profits directly and when acquired indirectly, increasing brand awareness is very essential so that more and more people tend to utilize the product and services. Through the organization of events, one can considerably expand professional contacts while establishing business relationships.
Your event marketing plans need to ensure that your customer’s reactions are monitored and responded to on a regular basis. People want to see products and services personally. This is where event marketing is ideal. In-person events allow customers to see, touch, taste, smell and experience of what is being offered. Ultimately, the event you choose has to match the crowd you expect. Putting out notifications on sites like Facebook or Instagram to see how many are interested and how many plans to attend should be the initiative taken up by startups.
A few event marketing examples are music festivals. This is an event that has a lot of power because it is a gathering of people. Music can be an effective tool in generating positive emotions in consumers. This is why it is becoming more common for brands to sponsor festivals or even be the one who organizes them. Additionally, with the rise of new technologies, virtual presence events solve a typical problem of traditional events, such as distance and time. In this way, one can connect just by sitting in their own homes.
A few more types of event marketing are conferences which are typically filled with speakers, workshops, and networking opportunities. Trade shows and expositions which allows companies to show off their products and services. Conducting seminars that are valuable and educational-centric events are functional for a startup. A simple speech during lunch parties can help align the event with the company and remind the attendees as to why they are there. Lastly, pop-up shops also allow companies to bring their brand to life through a physical setting for their customers.
Hence, event marketing strategies are not a substitute for traditional market promotion activities but a compliment to them. Fashion, IT, consumer goods, electronics, jewelry, watches, garments, etc., are all apt categories for event promotional activities.