Communicate, cut costs, and conduct research are the first three of the eight Cs of electronic event systems, that Leonard H. Hoyle mentions in ‘ Event Marketing ’ (www.wileyindia.com).
Communicating is about using the large array of resources available for event managers to communicate on the Web, he writes, citing Jud Ashman, professor of the event management certificate course in the George Washington University. These resources include email, list serves, search engines, discussion groups, online ads, and Web site linking.
Always include an ‘opt-out’ device in your message, whereby an individual can ask to be removed from a particular mailing list, the author advises. He makes a reference to Tim Mack’s 40-40-20 rule of direct mail marketing as applied to emails.
“The rule states that the copy, graphics, and other ‘creative’ elements only comprise 20 per cent of the strength of the campaign. The rest of the campaign’s strength is 40 per cent offering the right price or product and 40 per cent reaching the right audience.”
Traditional expenses such as postage and phone are redundant when you rely on the Internet for marketing. However, it is important to measure ROEM or return on event marketing, using the formula ‘project net profit/ total marketing budget.’
Though there is no set ‘magical’ number for an event to be viable from a marketing standpoint, the higher the ROEM, the more financially viable the event becomes, Hoyle guides. “A rule of thumb is that the ROEM ‘sweet spot’ for most marketers is approximately 15 per cent.”
As for research, the book recommends the use of resources about venues, vendors and target markets. “Market research will help determine the ability and willingness of attendees to pay ticket prices at various levels and, therefore, influence the planning of the event itself.”
For example, an event designed for executives who have access to corporate credit cards and can charge their participation as business expenses will likely be priced at a higher level than an event designed for those who must pay from their own personal wallets, the author instructs.
Commerce, current events, and command attention are the next set of three Cs. “Not only can you shop for products for your event, but you can also sell items for your event, take registrations, and rent ads,” reads the ‘commerce’ paragraph.
Using customisable Web sites and newsgroups, keep track of current events, both locally and globally, even while updating yourself with the trends and hot topics in your industry, the author suggests.
A simple tip for commanding attention to your event is to add the same to industry online calendars. (At the time of writing this, a Google search for ‘industry online calendar’ brings up http://recentral.org, of the real estate community, with upcoming events. Another find is www.printingnews.com, with a calendar of ‘printing, graphics, and imaging industry’ events.)
The seventh C is ‘cutting-edge services.’ Event management software can help manage the many tasks associated with planning a meeting, the author counsels. “Online registration can help keep track of attendees and payments. Stakeholders from around the world can keep in touch by holding meetings online.”
And the final C is the convenience of electronic event marketing, allowing you accomplish major aspects of event management right from your desk!
To these, you can add ‘change’ and ‘contingencies,’ Cs again, which the author discusses in the concluding chapter. Study fads, trends, statistics, and other critical information to anticipate the changes that will ultimately impact event marketing, he urges. “By anticipating future needs, the event marketer can influence demand and fill those needs with events that are essential to human productivity and well-being.”
And, to cope with contingencies, use scenario planning, Hoyle says. Examples of scenarios that can disrupt event marketing plan include: industry downturn six months before the event, major military action, spike in energy costs, and negative media stories about event safety.
Helpful information for the professional marketer.
