There are different reasons to adopt event marketing, which basically based on the objective of company to company. Sometimes small companies follow online event method to get more exposure by reducing the cost. A large, global company may need the face-to-face interaction with the potential customer and understand the demand of the product.
Type of events – Events are broadly divided in two categories
- Online Events – Webinars, Virtual Events, Live Streaming Events
- Physical Events – Tradeshows, Conferences, Seminars, Lunch/Dinner
However there are four basic reasons why small or large companies adopt event-marketing strategy..
1. Brand Awareness in the target audience – A key reason for a business to participate in an event is to establish and build its brand. Event marketing allows your company to cultivate and express its particular identity firsthand. Through events, you gain the perfect venue to share your ideas, thoughts, and name in the exact way you want to present them.
2. Generating leads – Events can work as a substantial lead generation model because you’ll get the opportunity to interact with your prospects especially when they are already interested in your product or services.What can better way to generate lead when your target demographic is present and convinced about your product/services?
3. Engaging with prospects and existing customers – Events are one of the best marketing mediums when it comes to customer engagement, because you’ll get an opportunity for positive perusal interaction with your existing customers.Every marketer knows that the biggest marketing ROI is to retain and grow your existing customer base in the cutthroat competition.
4. Educating attendees – Seven years back when I was new in marketing, I used to attend events for one of the two basic reasons, to network with likeminded people or to learn more about the latest trends in digital and social media spectrum. No matter what type of event you are hosting, there is always an opportunity to educate your customers.