Event marketing is often overlooked in marketing plans. The term event marketing brings up images of conferences, trade shows, and crowds. All expense. This isn’t always the case. Event marketing is really good for small businesses, where a totally different marketing event can occur. These events can grow revenue, increase public awareness, and increase return customers.
Small businesses can be helped by event marketing because it increases public awareness of the business, bringing more fame to the brand. The event itself allows customers to experience the business, it’s services and products. Existing customers are more inclined to return to a business if an event is ongoing, and new customers find events encouraging to have a qualified experience. As well, events can increase cash flow during and after an event, depending on the event goal Fq-events.
The publicity that goes into making a successful event is often widespread. Posters, social media, email marketing, print media, and collaborating with other businesses gets the word out. The number of prospects that see the ads and associate the business and event together increases brand awareness. A regular ad or social media post will have some affect, but to put all the marketing momentum behind an event increases the strength of a business message.
The day of the event is the height of activity. Customers are coming by to experience what is going on. It is a great reason to visit and revisit a business. They come by and enjoy the brand they enjoy. Often, returning customers bring new people by. These new people then have a first time experience at the business from a referral. Also, new customers show up to events because they either like the offer or want to satisfy curiosity about the business. Some new customers had already wanted to find out more about products and services offered and the event is a motivator to get them in.
Increase in cash flow due to the event is common. Actually, it might be the main result expected. There isn’t a business operator out there who doesn’t want more cash flow. Events are costly and a return on investment is often the gauge used to see if the marketing worked.
The event may be designed to have a break-even or a net profit goal. At break-even, the goal could have been to bring a ton of customers in for a good experience. In this case, cash flow is likely to occur after the event when customers return. With a net profit gauge, the event was to make money. If it made no money, or very little, then review of what went wrong is addressed. If it made money, it is likely there is another date scheduled shortly after the event.
An event I worked with at a brewery was a fundraiser for the city fireworks. We raised some money for the city and had a good time with the Chamber of Commerce who also sponsored the event. Though the fundraiser was small, the result was on the night of the fireworks show, the brewery who hosted the party was full for hours.
Events for small businesses can vary from a simple BBQ for customer appreciation to a concert where you are the host/sponsor. Competitions and sporting events get good participation. One event that I would like to do in the future is a 3 on 3 basketball competition. These events have great participation and are very entertaining. Other types of events are giveaways, networking, teaching a class, online contests, and holiday celebrations.
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