Event marketing

Push the pencil before

you push the event

Accountability and ROI for event marketing is an idea whose time came a long time ago. But a lot of us just weren’t paying attention. Some still aren’t. When I look back at some of the events I organized and hosted, I’m embarrassed by my failure to justify the outlay.

My associates and I would talked about “the good turn out,” “the positive feed back,” and all the other vagaries used to support what a great event we had sponsored. But we didn’t crunch the numbers to see if it was a smart investment of marcom dollars.

I’m enthusiastic about event marketing. It’s a powerful marcom tool. Problem was, when I was young I let my enthusiasm run away with my brain. I’m a mathematical idiot and shunned what I should have studied: What’s it going to cost and what’s the ROI?

Here’s an example

A few years ago a biotech company hosted a pheasant hunt for a handful of its best customers. As word spread about the event other customers ticked at not getting an invite said “Hey! How about me?” So they were invited. And the handful of customers grew and grew. Before the first bird was bagged, the host had invested $10,000 without a clear objective in mind.

To compound the felony, there was no follow up to the event…nothing to remind participants of the sponsor’s nice gesture. It did not generate new business, but in fairness, it was good for customer relations…at least with the few who took time to join the party. It should have been leveraged to insure its stickiness with some corporate wear or memento of lasting value that would help guests recall the event even years later.

When everything was totaled, it was an”oops!” moment for the marcom manager. He had no idea what the total was going to be, and it was a shock---especially to his boss.

Event marketing is powerful stuff

The example above is just to show the need for knowing what you want to accomplish and how much it will cost. Careful planning can make the difference between squandering funds and making a sound investment.

And, event marketing is not just for the big guys. Because events are scale-able, they’re doable for any size business. For example, Bellview Winery in South Jersey stages two major events a year. In the summer they have a seafood festival and fair. In the fall, they have a jazz festival and fair. The focal point of these events is the wine tasting tent, and the retail shop.

These folks don’t spend a fortune on their events, but they do attract new and old customers and can track increased sales to the events. What’s more, they get extra mileage from the press because the events make good copy.

Tip for the Little Guy

Your event doesn’t have to be spectacular to generate business. Consider going solo, but also consider coat-tailing or a co-op deal with a non-competitor or your vendors.

Events are an opportunity to get customers and prospects and their peers to have a personal experience with you, your products and services. And that’s good marketing.