Marketing ABCs
A few years ago I heard a story about a young company that was not generating the level of business it wanted or needed. I can’t remember exactly what industry, but that’s not really important. The owners decided to throw a big party, almost as a last-ditch effort, to attract more clients. They pulled out all the stops and spent nearly every last dollar they had to create a top-notch event that would position them as being a healthy and flourishing business. It worked for two reasons. First, they used an event to create an image of success so guests perceived them as successful. Second, the party created a buzz with potential clients so the company was top of mind.
Events can be a good marketing tool for almost any business. They can drive traffic, raise awareness, generate press and endear you to your patrons and the community. You can create a unique event, participate in an existing event or sponsor an event—the opportunities are almost endless.
Events make good marketing tools for a variety of reasons. Corporations have used events and sponsorships to increase brand awareness, educate consumers and employees, and create goodwill. In fact, a 2004 Global Event Trends Survey revealed that face-to-face events topped the list of marketing tactics for return on investment (ROI). The report, based on interviews with more than 200 decision-making marketing executives and personnel in U.S. corporations that have recorded sales exceeding $250 million, also found that 82 percent of the respondents said they planned to use event marketing as part of their overall marketing mix, an increase of six percent from 2003.
Home improvement stores offer a good example of how to use educational events effectively. They frequently hold workshops on do-it-yourself techniques, such as how to build simple structures, use specialty painting techniques or install flooring. The workshops, which are free, help promote the store’s expertise, develop customer loyalty, drive traffic and increase sales because the participants are likely to purchase needed supplies at the store offering the workshop. Even if you’re not in the home improvement business, there may be events that do the same for you. If you’re a clothing store, consider holding a free seminar on how to accessorize or a workshop on personal color. A coffee shop might offer a free workshop on how to brew the perfect cup of coffee, or an electric supply company might offer a workshop on ways to conserve energy.
Charity events are another option. You can develop a unique event to support a charity, participate in an existing one or provide sponsorship for an event. Charities often solicit participation from local businesses for events they are producing. Even if your budget can’t support a financial sponsorship, you may be able to donate goods or services.
We’ve probably all heard stories of publicity stunts—a bakery attempting to make the world’s largest chocolate chip cookie or a fitness center trying to hold the world’s biggest aerobics class. These events pique the curiosity of both the public and the press, so they can be used as a way to increase awareness.
Events that feature appearances by celebrities or someone of interest to your patrons are another way to drive traffic. Book signings are a good example. And book signings aren’t limited to just book stores either. A bakery could feature an author/baker, a gym could host a signing by a fitness author or a furniture store could showcase an interior designer who’s written a book. Other options include inviting experts to meet with your patrons. For instance, a jewelry store might hold an event at which a jewelry designer chats with guests about his or her craft.
If you’re thinking of incorporating events into your marketing effort, the first step is to set goals. The type of event should correspond with your goals. If you want to generate press coverage, you may want to develop an unusual event. If your goal is to drive traffic, you will want to do something unique that attracts customers.
Regardless of which option you choose, events can be an excellent addition to your marketing effort.