From Meh to WOW: Elevating Your Event Marketing Strategy

QUOTE QUEST
“Score Everything: The Art of Winning in Marketing”

Marketing is a thrilling game, but it's easy to get lost in a sea of meaningless metrics or, worse, forget about metrics altogether.

Here's the secret: become a score-obsessed marketer. Score your leads, score your opportunities, score your events, and yes, even score your people.

Embrace the over-the-top, be delightfully annoying, and I guarantee you'll reap the rewards. Get ready to level up your marketing game! 💯🚀 

Event Marketing Strategy
From Meh to Wow: Elevating Your Event Marketing Strategy
A Practical Guide to Planning, Executing, and Profiting from Events

🎉 Every marketer has an events strategy, but not all events are created equal. Some marketers are head over heels in love with events, while others are not so enthusiastic. In this post, we'll explore the world of event marketing and how to make sure your events are not just entertaining but also bring in real returns without breaking the bank.

🤔 What Events Should You Consider?

People often ask, "What makes a good events strategy?" We believe there are four types of events that a revenue marketing team should consider:

🌟 Level One: Leadership Forums

• TLDR: Foundation of event strategies that most companies should be doing.

• Occurrence: Multiple monthly events

• Who: Partner involvement & guest speakers

• Length: Short Duration (typically 1-2 hrs max)

• Owner: Field Marketing

• Cost: $1K to $10K

• Example: For instance, a software company hosts monthly "Thought Leadership Luncheons" in major cities, where industry leaders and partners are invited to share insights over a catered lunch.

🚀 Level Two: Strategic Events

• TLDR: Watch out for vanity metrics and think through a Pre-Event, During Event, Post-Event Approach

• Occurrence: These events will happen 1x a year but you might choose to do a handful of them.

• Who: 3rd Party Organized (e.g., Dreamforce)

• Length: Multiple days

• Owner: Corporate Marketing

• Cost: High costs

• Example: A software giant like Salesforce organizes "Dreamforce," a massive annual event that spans several days, featuring keynote speakers, breakout sessions, and an expo. The event attracts thousands of attendees and is a flagship marketing effort.

🌆 Level Three: Leadership Symposiums

• TLDR: Extended Duration (Half Day to Multiple Days), Experiential Nature, Destination Locations, Multiple Speakers, Client Experience Days

• Occurrence: Typically once or twice a year

• Who: Internally organized and executed

• Length: Ranges from a half-day to multiple days

• Owner: Corporate Marketing

• Cost: Moderate to High

• Example: A technology company hosts an annual "Tech Leadership Retreat" in a scenic destination. The event spans three days, including workshops, guest speakers, and client experience days, providing an immersive experience for attendees.

📈 Level Four: Customer Conference

• TLDR: Costly and Challenging; Consider for Balanced Prospects-Customers Mix

• Occurrence: Typically once a year

• Who: Corporate Marketing

• Length: Usually spans 2-3 days

• Owner: Corporate Marketing

• Cost: High budget required

• Example: A financial services company organizes an annual "Financial Summit" where customers and prospects gather to discuss industry trends. The conference includes keynote speeches, panel discussions, and networking opportunities.

👥 Who Should Own Events?

Most of the events discussed here are revenue-focused, so demand generation often takes the lead. However, there are exceptions. Corporate marketing excels in running big events like customer conferences and large 3rd party events, and the leadership symposiums.

📊 How to Decide Which Events to Pursue?

This is where it gets fun. I recommend using an Event Scorecard to make informed decisions. This tool allows for an objective evaluation of subjective decisions. The scorecard considers various factors:

• 📋 Level of Attendees

• 🎯 Alignment with Ideal Persona

• 🏢 Breakdown of Enterprise Companies

• 🏭 Industry Relevance

• 👥 Presence at the Event

• 🤝 Referral from Reputable Companies

• 🗣️ Feedback from Past Attendees

• 💰 Expected ROI

Each factor is scored on a scale of 0-3, with 3 being favorable. For example:

• Level: 75%+ director-level attendees = 3 pts

• Function: 75%+ fitting our persona = 3 pts

• Size: 75%+ enterprise companies = 3 pts

• Industry: 75%+ ideal industries = 3 pts

• Presence: Keynote, breakout, branding, list of attendees = 2 pts

• Referral: Yes = 3 pts

• Feedback: Amazing = 3 pts

• ROI: 8x ROI+ = 3 pts

At the end of scoring, events fall into three categories:

• ✅ Recommended (19-24 points)

• 🤔 Maybe (13-18 points)

• ❌ Not a Fit (0-12 points)

If ROI is challenging to estimate, keep it simple:

1️⃣ Calculate total estimated revenue by taking the contacts adding and estimate your ability to turn them into opportunities and eventually closed deals with an average deal size.

2️⃣ Then calculate the ROI by taking the estimated revenue over the overall cost.

Look, a successful event strategy requires careful consideration of event types, ownership, and a practical scoring system. Use this template to evaluate and ensure you're attending the right events that drive results.

Now, let's make event marketing both fun and profitable.

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