Event marketing boils down to growing your credibility. Partners and customers get a chance to interact with a brand in person and find it more trustworthy. This makes events a golden networking opportunity. 75% of business owners say that the chance to make useful contacts is their primary reason for participating in events.
Holding or attending events is a powerful part of a healthy lead acquisition strategy. Large business meetings gather an audience which has an interest in your field, product, or new opportunities in general. Chances are the attendees will become warm leads and loyal customers later on.
Events are an excellent opportunity to boost customer loyalty. People visit conferences or seminars not only to make contacts and absorb new knowledge but also to get away from their routines and have a good time. Such positive experiences create a strong emotional connection with a brand. Thus, holding events may be a good strategy for relationship marketing.
Surprisingly, event marketing helps increase your brand’s online presence as well. 48% of millennials attend events to share their experiences on social media. For businesses, this means higher outreach and brand awareness.
This quick once-over of the event marketing importance gives some hints about how effective this marketing channel is. It’s time to delve deeper into the details.
How Effective is Event Marketing?
Event marketing brings many innovative event ideas and seems an alluring opportunity for your business, right? Just in case you are still on the fence, we’ve found some more reasons to take advantage of this marketing channel:
- 52% of business owners claim that event marketing as the marketing channel that drives the most ROI;
- 47% of marketers say that events are a highly efficient way to engage with customers and prospects;
- 41% of business representatives think event marketing is a more effective channel than content and email marketing combined;
- Over-performing companies spend 1.7x the average marketing budget on live events;
- Companies that experience over 30% growth have been increasing their event activity the most.
Event marketing is highly effective for achieving business goals, boosting revenue, and making strong connections with prospects and customers. Still, not all events are equally beneficial for your brand. Let’s unveil the types of occasions that marketers consider the most valuable.
Types of Events
- VIP events
- Thought-leadership events
- Product launches
There are a ton of event formats that can be held both off and online. It’s time to unpack the most popular event types according to the Harvard Business Review:
Conferences are large-scale events, which focus on educational speeches from industry leaders and experts. They often include workshops and networking sessions to double the attendees’ benefits. 40% of businesses believe conferences are the most impactful event type for their business objectives.
The main goal of this type of event is to educate visitors. Hence seminars often take place in smaller venues and imply a limited number of participants. 8% of companies consider seminars crucial for achieving their business goals, but this format contributes the most to increasing attendees’ expertise.
These events aim at sales acceleration and key customer loyalty enlargement. VIP events can achieve these goals by gathering a room full of influential shareholders, key customers, and other honored guests. 7% of business representatives said VIP events have the highest impact on their company’s KPIs.
The supreme goal of these events is networking. A bunch of professionals with the same interests get together for in-person communication. Thought-leadership events allow organizers to boost their authority in a certain field and drive amazing business results – 14% of business leaders believe this type of event is the most beneficial for their companies’ outcomes.
Companies use product launches events to showcase their upcoming products to potential or existing customers. The goal is to make prospects and buyers excited about a new product’s features and benefits.
Event marketing is a potentially powerful tool. It allows you to build and maintain strong relationships, acquire new customers, create robust partnerships, and nail business KPIs. If you want to squeeze every bit of value from this channel, take care of promoting your event.
2022 it started to be a big year for the event industry and we cannot be more enthusiastic with next 2023. Feel free to reach out to us at email@example.com if you are looking for an event agency with specialized marketing for your upcoming event.