Benefits of Event Marketing for Small Business
Most businesses today invest heavily in their digital marketing campaigns, and while online advertising is crucial to any business’s growth, entrepreneurs should not forget that face-to-face interaction is still the most effective marketing tactic. All businesses depend on strong relationships to run and function. Every day, an organization deals with clients, suppliers, and prospects, signifying how crucial direct interaction is.
If you are a small business owner wanting to grow your business, do not overlook the importance of including event marketing in your overall strategy. Digital channels are becoming increasingly saturated these days, and people are always looking for new and tangible experiences to try something different.
The Two Forms of Events: Self-Hosted vs. Third-Party
The great thing about events is how varied the types are. If you do not know how to begin the planning, you can start by determining the type of event you would like to do. You have two options: a self-hosted event or a third-party event organized by others.
1. Self-Hosted Event
These are the events that you host yourself. You are responsible for organising and managing them from start to finish. The events will depend on your business, target market, and goals. Some examples include promotional marketing tours and training days for delegates.
The Benefits of a Self-Hosted Event
- More effective: Compared to third-party events, a self-hosted event can help your business generate more revenue since your attendees are fully aware of your brand, products, and services.
- Better control: You have full control over your event since you know your attendees. There is an opportunity for you to meet or communicate with them before, during, and even after the event.
- Better sales: Since it is your event, you can control who to target and invite. Your current customer base will most likely bring new prospects to your event. The more they see what you are selling in person, the more likely they are to convert and purchase.
2. Third-Party Events
These events are hosted by other companies or organizations that reach out to different brands and encourage them to participate by renting space or sponsoring part or the entire event. Some examples include conferences, trade shows, and exhibitions.
The Benefits of a Third-Party Event
- Bring awareness: Participating in third-party events gives your brand, products, or services increased visibility and better brand awareness because you get exposed to a potentially large audience.
- Increased credibility: You get to strengthen your reputation by participating in huge third-party events. These events attract key figures from the same industry, and being connected to them can give your brand that better credibility.
- Better sales: All big events hosted by third parties have a theme, and all the event attendees are interested or supporters of this theme. For that reason, you are more likely to gain customers and sales from the event.
- Research platform: If you have a new product you want to launch or test, third-party events are the best way to find out what like-minded people think. It is also the perfect venue for you to check out your competitors.
Before participating in any event, make sure that you set your goals first so you can tailor your marketing efforts to the occasion. These business goals will help you decide what type of event will help your business grow. Once you identify the events that will help you achieve your goals, you can start your marketing plan.
Another effective way of acquiring new customers or increasing your brand retention through these events is by sending out digital gifts. Using rewards software, you can encourage potential customers to visit your physical store to redeem their gifts. By using Appreci, you can maximize the results of your events.