5 Reason’s why events are a great marketing channel.
In our experience as both event organisers and event marketing specialists, we have come across a number of reasons why businesses either love events or are hesitant to use them as a way to promote their business.
Did you know? Events are among the most effective tactics used today by both B2B and B2C industries!
Statistics show 75% of business owners or managers believe event marketing is a critical channel for their business. However 54% of these businesses actually take full advantage of their event marketing investments, claiming that a lack of available resources and budgets are the reasons for not putting more effort into capitalising on these opportunities.
Further to these crazy statistics, there is also a staggering 84% of consumers who attend events walk away with a positive perception of the company, brand or product they had witnessed. Further to this, more than 90% of consumers are inclined to buy a product or service from a company they experienced at an event within 6-12 months!
So, Why are events so important? Why are marketers spending more on them than ever before, even during a global pandemic. Here are 5 reasons why:
Events have been postponed/cancelled for 2 years.
Unfortunately, like many industries during the COVID-19 pandemic, events have suffered. It seems monthly or even weekly events are cancelled or postponed due to the ‘health risks’ associated with large gatherings of people. If that last sentence, sounds a bit salty…it’s because it is. Many event management companies have suffered during these tough times but are excited for the future of the industry and this should re-invigorate businesses who once used events as a key marketing channel.
However, for the limited number of events that have been able to take place, businesses are lining up to be involved OR to create their own events. Why? Well, there is a shortage of them for a start. Pre-pandemic there was an event every week and businesses were spoiled for choice. Now, only the strong have survived, events with a history and a long term following are driving the industry back from the dead and businesses are lining up to be part of them before they miss out.
Secondly, like many industries. The events industry has also had to evolve and bring their platforms online adding tremendous value to event sponsors/partners to gain exposure in parts of the world they previously couldn’t reach. Music festival going ‘online’ has created huge engagement with people stuck at home during lockdowns unable to go anywhere and looking for things to do. What better chance for a business to use these virtual events as a key digital marketing channel.
2. Events establish personal connections
Events are an effective way for businesses to build trust, form an emotional connection and to stand out from the competition.
Not only is it a great way to attract your target audience to purchase from you, it is also a great way to attract new audiences, potential partners and sponsors.
3. Events leave a lasting impression
Events are often intimate, have a sense of style, look and feel that engages the sensory feelings of your audience. This ultimately leaves a lasting impression and one that creates loyalty, memories and a passive level of trust for a brand or product.
Events are also an important medium of advertising and arguably the future of brand marketing.
4. Events can connect physically, mentally and emotionally with its audience
Consumers these days expect and demand genuine attachments to brands. Consumers are no longer passive recipients and believers of brand messaging without experiencing the benefits of a brand or product first hand. But what do you do when you can put the product in front of your audience to try for themselves? Through events and experiential marketing, brands have found opportunities to connect with their audience on an emotional, mental and physical level. And as we mentioned above, events are no longer bound by physical activation spaces within a convention centre, field or venue. Events can reach a global audience through live streams and other interactive media, enabling brands to share their messages among peers, family members and complete strangers. This is more authentic and impactful than ever before.
5. Mass advertising is waning through the digital age
Social media, Google and other digital advertising platforms have become so common in a businesses advertising strategy that it has started to wane heavily on the consumer side of business with customers growing tiresome of automated ads and the constant spam that floods their inbox.
Events today are a critical component of any marketing mix. Events enable brands to connect live with their audience on the ground while also yielding content that affords exponential connections online. When executed successfully, they truly deliver a 1-2 punch that is unparalleled in terms of impact.