Have you considered event marketing for your business? Providing an experience for your ideal customer is a way to increase earned media, drive sales, and generate a loyal following. But is it right for your business? Here are a few things to consider before jumping in:
Is an Event in Sync with Your Business Goals?
Never host an event just because event marketing is a hot trend. You need to find a way to tie the event into a business goal. Before you even consider an event, think about what you want it to accomplish. For instance, a book marketing site recently hosted a weekend conference on how to self-publish a book. This helped them educate their target market framing this knowledge in a context that’s helpful to the business.Will Your Target Audience Enjoy It?
Yes, the point of the event is likely sales for you but this won’t happen if the event you’re throwing doesn’t interest your target market. For instance, the hottest mosh pit and band concert won’t impress the parents of toddlers crowd. Make sure before you spend money on an event that it is appealing to your ideal customer.Education, Inspiration, or Entertainment?
Education, inspiration, or entertainment, which one is the guiding principle of your event? Every good event marketing program does one of those things for its ideal audience.Consider these examples:
- Your audience has a need. Solve it with education by hosting an informative user’s conference.
- People want to be inspired. Pet supply stores often try to help with facilitating animal adoptions. They make people feel good and inspire them to help out. Plus they move product. Can’t adopt a dog without a bowl and food.
- Make shopping more entertaining. A furniture store brought in a band every weekend and moved some of their products outdoors during the summer to create a fun atmosphere in which to browse.
Are You Ready to Monetize It?
Event marketing offers more than just increased sales opportunities and the ability to help more people get to know, like, and trust you. It can also provide your business with an additional revenue stream...if you’re ready. You need to ensure you’re offering something people need and will pay for. Some companies do this by bringing in speakers or creating exclusivity by offering services at their event that their audience can’t easily get on its own.However, you needn’t charge for the event ticket. Some companies offer a free event and then sell VIP passes or exclusives.
Final (Bonus) Consideration: Do You Have the Manpower?
Even a simple event takes a lot of coordination. Give thought to who will run it and oversee the details. Pulling someone on staff to do it may cost less than hiring an event planner but not if it costs you business efficiencies in other areas.If you’re considering event marketing ask yourself these questions before diving in. When businesses embrace a trend without understanding if it’s a good fit for their target audience, it can be a very costly decision. Still, event marketing is becoming more and more popular. Remember the younger generation, which is coming into its buying power, appreciates experiences over things. If you host an amazing event, you can give them both.
