Podcast - Event Marketing: Insights from Industry Leaders
In this episode of the c-suite podcast, we chat to a panel of experts about how companies use events to showcase products, strengthen partnerships, and generate business opportunities.
In episode 176 of the c-suite podcast, hosts Russell Goldsmith and Graham Barrett delve into event marketing with Miranda McLean, Chief Communications and Sustainability Officer at Banking Circle Group at the time of recording and now CMO of Ecommpay; Adam Burak, Events Manager at Freemarket; and Emma Duncan, UKI Events Leader at IBM at the time of recording and now Head of Marketing at asembl.
They discuss how companies use events to showcase products, strengthen partnerships, and generate business opportunities.
Selecting Events and Strategies
Emma Duncan highlights the importance of aligning events with a company’s overall marketing strategy and client journey.
IBM evaluates potential events based on:
- Business Outcomes: Determining whether the event aims to boost specific sales or increase general awareness.
- Message Alignment: Ensuring the event's theme matches the company’s key messages.
- Audience Fit: Assessing if the event attracts the right job titles and companies in their target market.
- Engagement Opportunities: Identifying opportunities for storytelling and audience engagement.
- Data Capture: Ensuring the ability to collect actionable data for post-event follow-ups.
These criteria help companies decide on the mix of events to attend, such as multi-sponsor events for client acquisition and proprietary events for nurturing existing relationships.
Case Studies: Banking Circle Group and Freemarket
Miranda McLean discusses Banking Circle Group's event marketing evolution. Initially launched at an event in 2015, the company now focuses on face-to-face customer interactions and lead generation. Their integrated marketing campaign includes pre-event marketing, landing pages, participation in key sessions, and social media updates.
Viewing events as partnerships, they work closely with conference producers to maximize visibility.
Adam Burak from Freemarket emphasizes their focus on brand awareness and sales through event participation. Despite a long sales cycle, attending the right events and being an active sponsor is crucial.
Freemarket's goal at events is to build relationships that lead to future business opportunities.
Building Presence and Managing Event Sponsorships
Building a strong presence at events requires understanding the target audience and interaction goals, balanced with budget considerations. Miranda advises companies to evaluate potential events by sending delegates first to assess value before committing to sponsorships. This cautious approach ensures that the company invests in events providing the best return on investment.
Higher-level sponsorships enhance brand visibility and create associations of success and credibility. Being a five-star sponsor can significantly boost a company's visibility and reputation, although it’s essential to assess whether the additional investment aligns with the company's goals and budget.
Event producers offer a range of sponsorship packages to cater to different needs and budgets. Companies should communicate their objectives clearly to event organizers to negotiate packages providing maximum value. This ensures both sponsors and event producers benefit from the partnership.
Budget Allocation for Events
Adam reveals that Freemarket allocates 60% of their marketing budget to events, highlighting their importance. This significant investment underscores the value events bring to their overall marketing strategy.
Miranda references a survey indicating that 39% of respondents spend 10%-25% of their budget on events, while 35% allocate 25%-50%. This variation reflects the different roles events play in marketing strategies across industries.
Stand Design and Sustainability
Designing impactful and sustainable exhibition stands is crucial. Miranda works with We Are Pi, a B Corp focused on sustainability, to create stands that are visually appealing and environmentally friendly. The design process starts six to nine months before the event, allowing ample time for planning and execution.
The team focuses on creating a clean, impactful design that aligns with the brand and stands out in a crowded exhibition hall.
Emma emphasizes the importance of clear messaging architecture, ensuring that every element of the stand supports the company’s story. Sustainability is a key consideration, with efforts to use recyclable materials and donate items to charity when possible.
The Role of Podcasts at Events
The c-suite podcast enhances event experiences. Adam notes the benefits of having the partnered with the c-suite podcast at FinTech Connect, including increased traction, brand awareness, and engaging conversations with keynote speakers.
The podcast adds value by creating additional content and providing a platform for thought leadership.
Miranda shares similar positive outcomes from events like Money20/20, where the c-suite podcast drew senior executives to their stand and generated valuable content and social media exposure. The podcast helps create a buzz around the stand, attracting attendees and generating discussions that continue beyond the event.
Data Capture and Measuring Success
Capturing data at events is essential for effective follow-ups, compliant with GDPR regulations. Success metrics vary: Adam focuses on the quality of engagements and converting them to leads. This personal approach is more effective than relying solely on digital marketing tactics.
Emma and Miranda emphasize pre-planning, setting up meetings, and quality engagements that lead to high conversion rates.
For IBM, measuring success involves comparing planned interactions with actual numbers and assessing the quality of those interactions. They also track the conversion rate from leads to opportunities and the downstream impact on sales.
Sustainability in Event Planning
Sustainability is increasingly important in event planning. Efforts to reduce environmental impact, like the ILA framework and B-Corp status, are becoming more prevalent. Event organizers are aware of the need to minimize waste and reduce carbon footprints, offering options like recyclable materials and eco-friendly setups.
Conclusion
Event marketing is a powerful tool for building brand awareness, generating leads, and driving sales. By creating memorable, engaging experiences, companies can leave a lasting impression on attendees, fostering long-term loyalty and advocacy.
For businesses looking to enhance their event marketing strategies, careful planning, strategic event selection, and a focus on sustainability and engagement are key to success.
The insights from Miranda McLean, Adam Burak, and Emma Duncan underscore the importance of a holistic approach to event marketing.
By aligning events with overall marketing strategies, focusing on clear messaging, and prioritizing sustainability, companies can maximize their impact and achieve their business goals.
For more insights and information on event podcast offerings, visit Audere Communications.