Simplifying Event Marketing Plans by Simplifying Objectives - Event 2.0 (two objectives and extended target involvement)

When you boil it down, there are really two main objectives for event marketing.

I. Business Development/Improvement (Revenue and Cost)
II. Marketing Communications

Events may be aimed at one, the other, or both. The focus for a particular event may vary from year to year, based on the product cycles and your company. When we perform event measurement, the key determinant of event value is consistently the number of addressable, high value contacts reached through that event.

Revenue Related Business Development accomplishments include:

• Customer acquisition (adding new prospects to the database and sales to new
customers)
• Growth of the existing customer/ revenue base (sales to existing customers)
• Customer retention
• Acceleration of the sales cycle

Targeted audiences for revenue related Business Development activities are:

• Prospects
• Customers (direct)
• Channels
• Integrators and Aggregators who buy from you

Cost Related Business Development accomplishments impact on the cost side of the profit equation. You can impact cost, quality and availability or resources and affect mutually beneficial partnerships for joint offerings and accomplishments.

Targeted audiences for cost related Business Development activities are:

• Suppliers (improve price, quality or availability)
• Partners
• Strategic Alliances
• Others who can lower costs or improve resources, processes or market positioning

Marketing Communications accomplishments include:

• Brand development/ reinforcement
• Market positioning
• Product positioning
• Product and program introduction/ launches
• Company news
• Community affairs
• Communications with standards bodies and other market forces that reduce cost and or improve probability of sale
• PR Impact (influencing positive coverage of your company and products in trade or general press.

Targeted audiences for Marcom impact include:

• Press
• Analysts
• Pundits
• The market at large
• In some cases the public at large
• Regulators and politicians, bureaucrats, etc.
• Standards bodies, industry alliances, etc.
• In some cases financial analysts and investors

Getting the Job Done –

Business Development and Marketing Communications objectives are usually best accomplished by establishing appointments for face- to- face meetings with high value contacts, held during an event. At a consumer event, the interaction needs to be personal as possible. This has proven time and again to be the greatest source of value at most marketing events.

Effectiveness of getting things done is dependent upon a sound communication strategy and execution. Prospects, customers, suppliers, influencers and press have to know what value you offer and what you want them to do. What you show and tell should be completely tailored for the benefit of the various targeted audiences (outlined above) addressable at each event.

To create a simple strategic brief for an upcoming event, simply follow this format and provide a description of how and what you intend to accomplish in each area, and describe the specific individuals you must meet in order to reach those goals.

And remember it is usually what happens after the event that delivers payback. So your post event plan is usually more important than the event plan. Keeping all of these targets continuously engaged in a communal relationship with your company is an essential element in Event 2.0. (with apologies to Web 2.0 :) )


Ed