You might have attended a few company live events, but have you ever thought who do companies organize or participate in any live events? If you haven’t participated in any such event, then in this article, we will explain what happens in live events and why companies should build marketing strategies around live events.
Live events are generally conducted in terms of brand awareness and lead building strategies where company create a compelling brand narrative that shared with the participating audience for hours, and sometimes for a few days. There are different types of live events, such as Conferences, Trade shows, Seminars, Internal company meetings, Networking events, Ceremonies and galas, Product launches, VIP events, Job fairs, Team building, Field marketing and Online events (Webinars, Virtual events, Live streaming events).s
Budgets are one of the biggest challenges for conducting event marketing, and that’s supported by 54% Return on Investment (ROI). But this shouldn’t stop you from achieving the vast long-lasting connection with new and interested prospects.
41% of marketers believe that over email marketing, digital advertising and content marketing, events are the top-most effective marketing platform for any business, especially B2B. Most successful businesses spend 24% of the average marketing budget on live events.
Below are the reasons why many companies are investing in organizing live events:
- Events provide opportunities to connect with the target audience.
2. Passing the business message or value proposition has a higher rate of acceptance than through other marketing channels.
3. The participating audience is mostly aware of the agenda and the benefits that they are expecting out of the event. It is most likely not the case in terms of other digital marketing activities.
4. 68% of B2B businesses use in-person events for generating leads because they get to share business stats and benefits directly with an unexplored list of interested members.
5. Companies get to launch their products, share their innovative future visions, set expectations and create benchmarks through such events.
6. Deals that include face-to-face marketing have 20% higher close rate.
7. Live events are measurable and can be optimised because it’s easy to track steps followed by interested members online, right from clicking on the landing page to Thank You page or from clicking on an ad on social media to registering on the company website.
8. 70% of participants become loyal customers after attending an experiential marketing event.
9. 84% of the attendees agree to have a more positive opinion about the brand, company, products or services.
There are a few challenges while conducting live events:
- 39% of event planners agree that ‘captive audience’ is a very important element of any live event. However, the audience can always choose to leave the event anytime they want or engage themselves on their smartphones, creating a distraction.
- Events contribute to 24% of the B2B marketing budget, and at the same time ROI generated is nearly 54% only.
However, these challenges could be easily avoided by crafting compelling content around the expectation of the audience. As mentioned above, many participants become loyal customers after attending such events and have better brand awareness and positive feeling towards the brand and company. Maybe that’s why Apple invests a lot to conduct such events for launching new versions of iPhone and announcing feature and service upgrades.