Fundamentals of Event Marketing

1. Fundamentals of Event Marketing FUNDAMENTALS OF EVENT MARKETING HOW-TO GUIDE

2. 2 Fundamentals of Event Marketing How-to Guide According to the Center for Exhibition Industry Research (CEIR), there are 14,451 tradeshow events held annually in Canada, Mexico and the United States. Tradeshows are just one of a variety of event types that organizations use to promote their brand and generate leads. Events have strong appeal for many organizations because they facilitate face-to-face interaction with large groups of customers and prospects. This How-To Guide is designed to provide practical advice for executing an event marketing strategy. This guide outlines use cases for event marketing, event marketing best practices, the keys to a successful event, and a detailed action plan to begin your event marketing initiative. It is intended for use prior to and in conjunction with our Executing an Event Marketing Plan How-To Guide. From a marketing perspective, an event is simply an activity designed to bring a specific group of people together at some venue at a specific time and for a specific purpose. Here are some other definitions of event marketing: HOW-TO GUIDE What Is Event Marketing? “The activity of designing or developing a themed activity, occasion, display, or exhibit (such as a sporting event, music festival, fair, or concert) to promote a product, cause, or organization.” BusinessDictionary.com “Event marketing is the effort to spread recognition of an entity by association with a social event. Constant competition for the public’s attention rages in print and broadcast media. Event marketing moves that competition to the experiential arena and hopes to engage the participant more fully and make memories more lasting. An experience that is fun, participatory, and readily available may translate into the desired action by the event attendee, making the effort cost-effective.” WiseGEEK.com Fundamentals of Event Marketing 2 Fundamentals of Event Marketing How-to Guide According to the Center for Exhibition Industry Research (CEIR), there are 14,451 tradeshow events held annually in Canada, Mexico and the United States. Tradeshows are just one of a variety of event types that organizations use to promote their brand and generate leads. Events have strong appeal for many organizations because they facilitate face-to-face interaction with large groups of customers and prospects. This How-To Guide is designed to provide practical advice for executing an event marketing strategy. This guide outlines use cases for event marketing, event marketing best practices, the keys to a successful event, and a detailed action plan to begin your event marketing initiative. It is intended for use prior to and in conjunction with our Executing an Event Marketing Plan How-To Guide. From a marketing perspective, an event is simply an activity designed to bring a specific group of people together at some venue at a specific time and for a specific purpose. Here are some other definitions of event marketing: HOW-TO GUIDE What Is Event Marketing? “The activity of designing or developing a themed activity, occasion, display, or exhibit (such as a sporting event, music festival, fair, or concert) to promote a product, cause, or organization.” BusinessDictionary.com “Event marketing is the effort to spread recognition of an entity by association with a social event. Constant competition for the public’s attention rages in print and broadcast media. Event marketing moves that competition to the experiential arena and hopes to engage the participant more fully and make memories more lasting. An experience that is fun, participatory, and readily available may translate into the desired action by the event attendee, making the effort cost-effective.” WiseGEEK.com Fundamentals of Event Marketing

3. 3 Fundamentals of Event Marketing How-to Guide The fundamental events-marketing premise is to offer something of value to attendees, often education or entertainment, that draws them to the event. This gathering of attendees, who are typically customers or prospects, is then exploited for marketing purposes. Events come in a wide variety of forms, including but not limited to the following types: Event marketing is an excellent strategy for many companies because HOW-TO GUIDE Events concentrate groups of customers that represent a company’s target market in one place and at one time. They facilitate face-to-face interaction with customers and prospects, which is usually the most prized form of interaction. The quality of interaction at events can accelerate the sales cycle. As the following diagram illus- trates, different types of events are effective throughout the sales cycle: Because of the face-to-face interaction (or real-time interaction in the case of virtual or online events), they create a stronger impression than other forms of promotion. This impression is ideally favorable, but poor execution at an event can damage the relationships or create negative impressions. Trade Shows Webinars Ribbon Cuttings (e.g. new office) Focus Groups Customer Socials or Reception Sponsored Sporting Events Shareholder Meetings Conference Exhibits Virtual Events Press Conferences Training and Education Sessions Product Demonstrations Business Dinners Product Launches What Constitutes an Event? Value of Event Marketing Fundamentals of Event Marketing 3 Fundamentals of Event Marketing How-to Guide The fundamental events-marketing premise is to offer something of value to attendees, often education or entertainment, that draws them to the event. This gathering of attendees, who are typically customers or prospects, is then exploited for marketing purposes. Events come in a wide variety of forms, including but not limited to the following types: Event marketing is an excellent strategy for many companies because HOW-TO GUIDE Events concentrate groups of customers that represent a company’s target market in one place and at one time. They facilitate face-to-face interaction with customers and prospects, which is usually the most prized form of interaction. The quality of interaction at events can accelerate the sales cycle. As the following diagram illus- trates, different types of events are effective throughout the sales cycle: Because of the face-to-face interaction (or real-time interaction in the case of virtual or online events), they create a stronger impression than other forms of promotion. This impression is ideally favorable, but poor execution at an event can damage the relationships or create negative impressions. Trade Shows Webinars Ribbon Cuttings (e.g. new office) Focus Groups Customer Socials or Reception Sponsored Sporting Events Shareholder Meetings Conference Exhibits Virtual Events Press Conferences Training and Education Sessions Product Demonstrations Business Dinners Product Launches What Constitutes an Event? Value of Event Marketing Fundamentals of Event Marketing

4. 4 Fundamentals of Event Marketing How-to Guide HOW-TO GUIDE Event Marketing Spectrum For some companies, events are the primary marketing strategy. For others, events are just one of many tactics used to accomplish sales and marketing goals. Your company’s level of commit- ment to events will vary depending on the forces driving your marketing strategy. Using the chart below, determine whether events are a strategic part of your marketing mix or are more tactical in nature: Events As a "Tactic" Events As a "Strategy" Infrequent events, as needed Frequent events needed to hit revenue targets. Complementary to mission Critical to success of mission Ad hoc team, minimal resources Dedicated team and resources Viewed as a cost center Viewed as critical investment with clear ROI Fundamentals of Event Marketing Press Events Announcements Open House Need Discovery Consideration Decision Review Tradeshows Customer Retail Training Webinars Product Demos Decide where your organization falls on this event marketing spectrum by selecting the charac- teristic below that best describes your disposition: Low - You use events infrequently, but you still need to do them well. Med - You use events periodically, and want to get more out of them. High - Events are a strategic part of your marketing plan, and you want to show ROI. 4 Fundamentals of Event Marketing How-to Guide HOW-TO GUIDE Event Marketing Spectrum For some companies, events are the primary marketing strategy. For others, events are just one of many tactics used to accomplish sales and marketing goals. Your company’s level of commit- ment to events will vary depending on the forces driving your marketing strategy. Using the chart below, determine whether events are a strategic part of your marketing mix or are more tactical in nature: Events As a "Tactic" Events As a "Strategy" Infrequent events, as needed Frequent events needed to hit revenue targets. Complementary to mission Critical to success of mission Ad hoc team, minimal resources Dedicated team and resources Viewed as a cost center Viewed as critical investment with clear ROI Fundamentals of Event Marketing Press Events Announcements Open House Need Discovery Consideration Decision Review Tradeshows Customer Retail Training Webinars Product Demos Decide where your organization falls on this event marketing spectrum by selecting the charac- teristic below that best describes your disposition: Low - You use events infrequently, but you still need to do them well. Med - You use events periodically, and want to get more out of them. High - Events are a strategic part of your marketing plan, and you want to show ROI.

5. 5 Fundamentals of Event Marketing How-to Guide HOW-TO GUIDE Fundamentals of Event Marketing Key Success Factors for Events Events come in a wide variety of forms, including but not limited to the following types: Key Success Factor Reasoning Clear objectives for each event If you are unsure of objectives, how can you show results? Meticulous planning Events can be stressful if they are not carefully planned. Flawless execution You can’t afford to have an event turn into a disaster. Solid promotion Events are successful only if you have enough attendees. Measurement of results You need to know which events provide the most ROI. Note: Even if events aren’t a strategic part of your marketing mix, you must be sure to do them well or risk damage to your firm’s reputation. Event marketing can accomplish many key objectives: lead generation, sales cycle accelera- tion and overall brand perception enhancement. Does it make sense for your business to use events as a marketing strategy? To answer this question intelligently, first consider your objective for participating in or hosting them. Reasonable objectives include lead generation, brand aware- ness, thought leadership, partner recruiting, media exposure or something else. Set an objective before you do anything else, because you’ll optimize your presence at an event around this objective. Your planning and preparedness will determine the extent to which event marketing will produce the desired outcome. Assessing your organization’s current commitment to event marketing and creating a detailed event marketing plan will help you get a return on your investment in events. Bottom Line 5 Fundamentals of Event Marketing How-to Guide HOW-TO GUIDE Fundamentals of Event Marketing Key Success Factors for Events Events come in a wide variety of forms, including but not limited to the following types: Key Success Factor Reasoning Clear objectives for each event If you are unsure of objectives, how can you show results? Meticulous planning Events can be stressful if they are not carefully planned. Flawless execution You can’t afford to have an event turn into a disaster. Solid promotion Events are successful only if you have enough attendees. Measurement of results You need to know which events provide the most ROI. Note: Even if events aren’t a strategic part of your marketing mix, you must be sure to do them well or risk damage to your firm’s reputation. Event marketing can accomplish many key objectives: lead generation, sales cycle accelera- tion and overall brand perception enhancement. Does it make sense for your business to use events as a marketing strategy? To answer this question intelligently, first consider your objective for participating in or hosting them. Reasonable objectives include lead generation, brand aware- ness, thought leadership, partner recruiting, media exposure or something else. Set an objective before you do anything else, because you’ll optimize your presence at an event around this objective. Your planning and preparedness will determine the extent to which event marketing will produce the desired outcome. Assessing your organization’s current commitment to event marketing and creating a detailed event marketing plan will help you get a return on your investment in events. Bottom Line

6. 6 Fundamentals of Event Marketing How-to Guide 1 2 3 4 Review Identify Where You Fit on Spectrum Download Prepare Your Company Action Plan STEP 1 - Review Event Planning Made Easy with This How-To Guide Review our Executing an Event Marketing Plan How-To Guide – to understand the all the steps in the event planning process. The first step in this planning process is to set objectives for your event marketing initiative. For many companies, the objective is lead generation. Whatever it is for your organization, have clear objectives and build your event marketing strategy around them. V I E W R E S O U R C E Executing an Event Marketing Plan How-To Guide 6 Fundamentals of Event Marketing How-to Guide 1 2 3 4 Review Identify Where You Fit on Spectrum Download Prepare Your Company Action Plan STEP 1 - Review Event Planning Made Easy with This How-To Guide Review our Executing an Event Marketing Plan How-To Guide – to understand the all the steps in the event planning process. The first step in this planning process is to set objectives for your event marketing initiative. For many companies, the objective is lead generation. Whatever it is for your organization, have clear objectives and build your event marketing strategy around them. V I E W R E S O U R C E Executing an Event Marketing Plan How-To Guide

7. 7 Fundamentals of Event Marketing How-to Guide 1 2 3 4 Review Identify Where You Fit on Spectrum Whether events are infrequent and tactical for your organization, or frequent and stra- tegic, understand this and prepare to invest appropriately. Action Plan STEP 2 - Identify Where You Fit on Spectrum Download Prepare Your Company Event Marketing Maturity Assessment Shows How To Invest V I E W R E S O U R C E Event Marketing Maturity Assessment 7 Fundamentals of Event Marketing How-to Guide 1 2 3 4 Review Identify Where You Fit on Spectrum Whether events are infrequent and tactical for your organization, or frequent and stra- tegic, understand this and prepare to invest appropriately. Action Plan STEP 2 - Identify Where You Fit on Spectrum Download Prepare Your Company Event Marketing Maturity Assessment Shows How To Invest V I E W R E S O U R C E Event Marketing Maturity Assessment

8. 8 Fundamentals of Event Marketing How-to Guide 1 2 3 4 Download Action Plan STEP 3 - Download Review Prepare Your Company Manage Success with the Event Marketing Plan Playbook Download our Event Marketing Plan Playbook to create and manage your event marketing strategy. Make sure that your planning accounts for each of the key success factors identified in this document. V I E W R E S O U R C E Event Marketing Plan Playbook Identify Where You Fit on Spectrum 8 Fundamentals of Event Marketing How-to Guide 1 2 3 4 Download Action Plan STEP 3 - Download Review Prepare Your Company Manage Success with the Event Marketing Plan Playbook Download our Event Marketing Plan Playbook to create and manage your event marketing strategy. Make sure that your planning accounts for each of the key success factors identified in this document. V I E W R E S O U R C E Event Marketing Plan Playbook Identify Where You Fit on Spectrum

9. 9 Fundamentals of Event Marketing How-to Guide 1 2 3 4 Prepare Your Company As prescribed in the Event Marketing Plan Methodology, establish a budget for your event marketing plan. Even more important, put a set of measurements in place to track the results your event marketing efforts produce. Action Plan STEP 4 - Prepare Your Company Review Download Track Results with an Event Marketing Metrics Dashboard V I E W R E S O U R C E Event Marketing Metrics Dashboard Identify Where You Fit on Spectrum 9 Fundamentals of Event Marketing How-to Guide 1 2 3 4 Prepare Your Company As prescribed in the Event Marketing Plan Methodology, establish a budget for your event marketing plan. Even more important, put a set of measurements in place to track the results your event marketing efforts produce. Action Plan STEP 4 - Prepare Your Company Review Download Track Results with an Event Marketing Metrics Dashboard V I E W R E S O U R C E Event Marketing Metrics Dashboard Identify Where You Fit on Spectrum

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