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What is Event Marketing and How it Works?

Written by

Andrew Strassmore

Reviewed by

Artem Goryushin

Fact checked by

Emmanuel O.

Updated: May 2, 2023

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Elementary

Event Marketing

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Event marketing is a type of marketing that involves creating and organizing special events to promote a product, service, or brand. Event marketing can be an extremely effective way to build buzz and generate interest in a business. The objectives of event marketing vary depending on the goals of the company. However, some common objectives include raising awareness, generating leads, and increasing sales. Event marketing can be an important part of any marketing strategy, as it can help to reach new customers and build relationships with existing customers. 

Key Traits

Event marketing can be a powerful tool for promoting a business, but it is not without its challenges. Some of the key traits of event marketing include:

Planning and organization: Event marketing requires careful planning and organization in order to be successful. There are a lot of details that go into organizing an event, from choosing a venue to coordinating with vendors to creating promotional materials. It is important to plan ahead and make sure all the details are taken care of so that the event runs smoothly.

Creativity: In order to stand out in a crowded marketplace, businesses need to be creative with their event marketing efforts. There are many events happening all the time, so businesses need to find ways to make their events stand out and capture people’s attention.

Budgeting: Event marketing can be expensive, especially if you are trying to put on a large-scale event. It is important to carefully budget for events and make sure that you are not spending more than you can afford.

Marketing: One of the key objectives of event marketing is to generate awareness and interest in the business or product being promoted. This means that effective marketing is essential for any successful event. businesses need to have a strong marketing plan in place in order to get the word out about their event and attract attendees.

These are the main 4 tasks of event marketing.

To inform the target audience (for example, about the release of a new product). This is the task that the PR-department does by publishing news and press releases in various thematic media, sub-publics, and blogger sites. A separate budget is allocated for this, but it is very difficult to assess the effectiveness of such actions. At the event, we can present the new product/service in more detail, answer all the questions that have arisen, and immediately give the opportunity to use them. It is important not to forget to invite media representatives, who will additionally publish a post-release or review of the event.

Examples: press conference, conference (including online), business breakfast, business meeting for current and potential clients, webinar.

Attraction of new customers, to increase sales. This function is performed by the sales department. If there is a need to sell a certain batch of goods, it can be arranged directly at the target event, organizing an action, and direct sales. It is important to have managers at the event, who will find or attract potential customers, consult them and sell the company’s product.

Examples: participation in professional exhibitions, conferences, festivals with a separate stand, BTL, master classes, tastings, etc.

To increase brand awareness. Brand awareness can be increased by active participation as a partner of large image events. Sometimes even an off-site participation in an event can anchor your company associatively on the same level as other major companies. This increases brand recognition and reputation. It performs the function of external advertising and promotes the work of the advertising department.

Example: partnership or sponsorship in a major business forum, renting a venue for promotional activities during seasonal festivals.

To increase the loyalty of current customers to your company with events organized specifically for customers and partners. We are talking about companies that need to retain and multiply customers. Most often these are B2B services or FMCG sales. In this case, event marketing contributes to the functioning of the department to work with current customers and partners. The main tasks to be accomplished is to encourage the customer to stay with the company, rather than leave for a competitor (given that the competitor itself is actively working to attract your customers). Conventionally, events to support your customers can be divided into those that are useful, and those that bring joy and good emotions.

When creating useful events, you need to think about what other needs and requests of your customers you can meet. 

Examples: thematic closed conferences, seminars, networking, webinars and training sessions for customers.

Rock the HR brand. The area of responsibility of the event-manager may include the organization of events whose purpose is to increase the loyalty of the current employees and to pump up the HR-brand. This function in a company is performed by the HR-department and an internal PR-manager. But the success of business directly depends on the company’s rating not only among competitors, but also on the labor market. That is why active corporate life of a company is a very important aspect which has to be handled by a separate specialist.

Example of events: corporate evenings, team-building, contests and awards, corporate education, sports, foreign language classes, etc.

Types of Events

There are all sorts of events that you can market. You could market a music festival, a food festival, a film festival, or even a gaming convention. Whatever you’re into, there’s probably an event for it. And if there isn’t, you could always start your own. Whatever type of event you’re marketing, remember to appeal to the right audience. That’s half the battle right there.

There are a number of different strategies that businesses can use for event marketing. Some of the most common strategies include:

  • Planning ahead: As mentioned earlier, one of the key traits of event marketing is careful planning and organization. Businesses need to plan well ahead in order to make sure they have everything they need in place for the event. This includes planning the budget, choosing a venue, coordinating with vendors, and creating promotional materials.
  • Marketing: Event marketing cannot be successful without strong marketing. businesses need to have a solid marketing plan in place in order to get the word out about their event and attract attendees. This may involve advertising online and in print, sending out email invitations, and using social media to promote the event.
  • Sponsorship: Sponsoring an event is a great way to get exposure for your business. You can sponsor an existing event or even create your own event and become the main sponsor. This will give you lots of visibility and help you to reach your target audience.
  • Participation: Another great way to market your event is by getting involved with other events happening in your area. This can involve setting up a booth at an existing event or participating in a parade or road race. This will help to get your name out there and introduce people to your business or product.

How To Find Target Audience

If you’re planning an event, one of the most important things you’ll need to do is identify your target audience. This can be a tricky task, but there are a few key things to keep in mind that will help you narrow things down. First, consider the purpose of your event. What are you hoping to achieve? Once you have a clear idea of your goals, you can start to identify who would be most interested in attending.Think about things like age, location, and interests. For example, if you’re planning a charity fundraiser, your target audience might be people who are passionate about causes related to your cause. If you’re planning a business conference, on the other hand, your target audience might be professionals in your industry. Once you have a good sense of who your target audience is, you can start thinking about how to reach them. This includes things like marketing and advertising, as well as working with partners who can help you spread the word. By taking the time to identify your target audience, you’ll be well on your way to planning a successful event.

Promoting your event doesn’t have to be a daunting task. With a little creativity and effort, you can get the word out there and make sure your event is a success. Here are some tips for promoting your event online and offline:

  • Start early: The sooner you start promotion, the better. This will give you more time to reach your target audience and build up interest.
  • Use social media: Social media is a powerful tool for promotion. Create event pages on Facebook and Twitter, and use hashtags to get people talking.
  • Get the word out: Traditional promotion methods like flyers and posters can still be effective. Make sure your promotion is eye-catching and informative.4. Think outside the box: Be creative in your promotion efforts. If you can stand out from the crowd, you’ll be more likely to attract attention.
  • Follow up: Once your event is over, don’t forget to follow up with attendees. Thank them for coming, and ask for feedback to help improve future events.

By following these tips, you can ensure that your event is a success!

Measuring the efficiency

Event marketing is a tricky business. On the one hand, you want your event to be successful and generate a lot of interest. On the other hand, you don’t want to spend too much money on marketing and end up in the red. So how can you tell if your event marketing campaign is successful? One way is to measure the amount of interest generated before and after the event. If you see a significant uptick in web traffic, social media activity, or press coverage, then it’s safe to say that your event marketing campaign was successful. Of course, only you can decide what constitutes success for your event. But by measuring the interest generated, you can get a good idea of whether or not your event marketing campaign was successful.

Summary

All in all, event marketing is a great way to generate buzz and excitement around your product or service. By understanding the different types of events you can market, as well as how to identify and target your audience, you can put together a promotion that will have lasting effects long after the event is over. And don’t forget – measuring the success of your campaign is key to ensure that you are getting the most bang for your buck. So what are you waiting for? Start planning your next big event today!

Related articles:

What is ARPU? What is The Average Order Value (AOV)? What is Customer Acquisition Cost (CAC)? What is Customer Lifetime Value (CLV)?

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