December 5, 2011
The Canadian Marketing Association recently released the results of a study by market-research firm TNS that said too many brands fail to integrate their social-media strategy with real business objectives and therefore, waste money and may actually alienate potential customers.
Don’t you think the same can be said for many companies’ event strategy?
In fact, a number of companies run each of their events as ‘stand alone’ initiatives that do not align with marketing objectives nor support corporate business strategy.
Many executives see each event as a necessary expense – a cost that their corporation must pay to stay top-of-mind with their clients in a competitive marketplace or to educate and inform employees or distributors.
Why are events perceived that way?
Probably because in truth, most planners are so focused on logistics that they fail to ask the right strategic questions up front or take the time to determine what needs to happen to justify having potential attendees take time from their busy routines to attend events.
I think in this digital age, most people attend events to network, exchange ideas and build or strengthen relationships.
They want to be able to discuss new ideas and concepts with others in real time – face to face.
If event budget owners fail to understand how to utilize face-to-face marketing activities to best satisfy the expectations of people who attend, there is a huge opportunity for event professionals to demonstrate how to design meetings and incentives strategically, to foster attendee growth and success.
Great planners will ask to be involved early in the planning process, so they can utilize the appropriate methodology to design effective interactions and then measure the ROI (return on investment) and ROO (return on objectives).
Once the planners can measure and report on the impact of each event, event owners will better understand the business value of the events they hold.
And when the budget owners understand the value of the events, they will see the meeting or event as an investment rather than a cost.
A call to action for the successful planners of the future:
Can you end the disconnect and design better events that will help owners understand the business impact of every dollar spent?