When choosing a marketing strategy, brands often consider the size of the budget required as their first priority. That is why many marketers opt for online marketing because it requires less manpower and to some extent, minimal effort.
However, event marketing- sponsored community programs, conferences, incentives, and trade shows- have proven to provide better ROI than internet marketing. Here is why, though expensive, events are the best marketing investment.
- Face-to-face connections are still vital in the business
According to Hubspot’s sales statistics in 2019, at least 79% of prospective buyers make their purchasing decisions after meeting face-to-face with a salesperson. This means that although you still can generate substantial business leads through online marketing, you still need to make meaningful, in-person connections with your target clientele if you are to get optimal results.
The human touch that event marketing brings forth is very effective when it comes to explaining your company values and objectives to your target audience. Your customers get to ask questions, according to you the chance to offer them real-time, fruitful, and personalized engagement with your services/products.
Your website may not tell the entire company narrative; at least not as effective as in-person marketing does.
- Event marketing is the most effective way of building brand equity
Your business success is heavily dependent on customer perception. Event marketing enables you to cultivate a positive brand perception amongst your target audience; it is a proven strategy of brand equity building. Statistics collected in 2015 showed that at least 74% of a given clientele got a more positive perception towards a given brand after interacting with the brand’s representatives in a marketing event.
- Through events, brands engage deeper and more productively with clients
Conversations in an event help you to put a face to your brand. As you may know, most people are skeptical about doing business with a faceless organization.
Once your brand gets a face, stronger business-customer ties are developed, customers are able to give you valuable feedback, and you are able to explain your products’ defining features more candidly. You can even organize an event where a few lucky customers, preferably regular customers, get the chance to try out a new product before you launch it to the world. That will not only be a fun and exciting experience for your loyal customers but also a chance to get honest, truthful, and real-time feedback. You need such information to further improve on your products.
- Events help you to expand your content strategy
Social media marketing is integral to the growth of any brand. Without regular, fresh and engaging content for your social followers, chances are they will get bored and disinterested in your page. That is where event marketing comes in.
Live streaming a company event on Facebook or Instagram is one way of expanding your content strategy. Sponsoring popular events, say a popular sporting event, attracts tons of social media engagement, which allows you to promote your brand’s hashtags. You can also create content themes around the popular event.
On top of the content expansion possibilities that event marketing presents, it also attracts free advertising from the event attendees. Everyone has a smartphone these days and that makes it seamless to take photos, videos, and quotes from marketing events. All these are then posted on social media and, in most cases, the brand sponsoring the event gets a tag- which is a great deal nowadays.
- Events attract community goodwill
Customers will love your brand more if you show genuine efforts of helping the community. When your company is associated with a worthy cause in society, it even attracts positive media attention.
In order to get the most out of your sponsored event, it is important that you hire the services of a professional event production agency. Such agencies bring color to your event, make the visual display and sound output more prominent, and ensure that your social live stream is perfect.
Event Marketing In China
With the increasing live streaming apps in China, luxury brands are now able to deliver personalized content to their social media audiences. Event attendees, on the other hand, now share their experiences seamlessly via social platforms such as QQ, WeChat, Miaopai, and Weibo- you name them! The ripple effect of this is increased business leads and improved returns.
“If you want to expand in China, you will need to devise ways of leveraging the great opportunities that China’s events industry is offering.” say experts of New Horizons Global Partners. Experts predict that the industry will have a market scale of at least $100 billion within the next 5 years. Events in major cities of Tianjin, Chengdu, Beijing, and Wuhan will definitely increase as investors continue to build modern convention centers.