While most business decision-makers are aware of the opportunities with corporate event creation, some questions remain. What are the key points to consider when creating a project? How does it integrate with existing marketing strategies? How do you evaluate return on investment?
Before investing in any marketing strategy, it’s crucial to understand all the subtleties involved.
An introduction to this discipline is necessary.
So we’ve created a comprehensive guide to event marketing.
And to discuss corporate event creation, who better than an organization that considers event marketing the central pillar of its marketing strategy!
– Event Marketing for Organizations as Seen by an Organization
– What is Event Marketing?
– How Does Event Marketing Fit into a Company’s Marketing Strategy?
– Why Invest in Event Marketing?
– What are the Golden Rules for Successful Corporate Events?
– Event Marketing and the Target Audience
– Event Marketing for Partners or Employees: Any Differences?
– Concrete Examples of Event Marketing
– How to Measure ROI in Event Marketing
– Developing Your Signature and Sharing Company Values
For over 10 years, the Quebec Women in Finance Association (AFFQ) has produced approximately 70 events per year to advance women in finance and highlight their role in Quebec’s development.
We spoke with Ms. Martine Cantin, General Director of AFFQ, to understand the importance of event marketing for her organization and to highlight the successes generated by such events.
We discuss important concepts together that will enrich our guide to virtual event marketing, such as creating unique event identities and the necessity of sharing important company values with guests during an event.
But before opening the books and delving into the details, let’s start by establishing a concrete definition.
Event marketing is a complete communication tool that involves creating extraordinary events to promote a brand or organization to a target audience.
To understand the value of event marketing, it’s important to qualify the term “target audience,” often used broadly in marketing.
In the context of corporate events, the target audience is very specific… and very real! They are present in the room, attentive, receptive.
When we talk about sharing values or communicating an important message to event participants, we directly engage a carefully selected and highly receptive clientele.
For Ms. Cantin of AFFQ, event marketing is the ability to create an event to promote an organization.
“At first, it’s the organization that brings the event to life, and afterward, it’s the event that brings life to the organization.”
This premise sets the stage for explaining the importance of initial investments and the attention given to creating a unique signature for each event.
Generally, the creation of professional events initially integrates into the company’s communication plan.
Various projects will then have their respective budgets in the marketing budget, similar to advertising campaigns on social networks.
At AFFQ, each event has its own mini-budget.
The organization plans for costs and revenues (some AFFQ events are paid), as well as the project’s duration within the financial year.
Ms. Cantin also notes that at the project’s inception, funds are allocated for branding development (name, concept, logo, visual…).
Developing a brand image incurs additional costs, but it ensures the event’s sustainability and a return on investment for several years.
“We realized that naming our programs and attaching them to a branded image makes people take ownership of our events.”
AFFQ operates with budget forecasts that include cost and revenue assessments, as well as estimates of major partner contributions. Subsequent sponsorships are then added as surpluses.
Because the organization producing a corporate event works with a highly targeted, present, and receptive clientele. Close proximity to the target audience is what distinguishes event marketing from all other forms of marketing. During online events, it’s interactivity that strengthens the moment.
If the event is well-designed, the company significantly increases its chances of conveying a “meaningful” message while meeting internal objectives.
This mechanism is entirely opposite to a message presented on a billboard addressing the whole world. In the latter case, the “target” is diffuse, and the message loses considerable impact.
For AFFQ, the brand identity created through event marketing helps sell the organization’s various programs.
Ms. Cantin mentions that it’s easier to retain people when a product is propelled by a strong identity.
“Being part of the ‘Sparkles’ program is much easier to share with others than simply saying you’re ‘participating in an integration and networking program.’”
If we assume that the company is committed to quality event marketing and budgets have been allocated accordingly, the golden rule for a successful event is to grasp the deep value of the message you want to convey.
To do this, try to distill your objectives into a simple sentence. This sentence illustrates the important message to communicate and serves as a guideline during the project’s creation phases.
The event organizer must then demonstrate useful creativity. Useful creativity always serves the message you want to convey to the attendees.
Whether or not different technological tools are used, the event must resonate with the audience.
This resonance with the targeted audience creates engagement with the organization, product, or brand, rather than the spectacular aspect of an event.
At the AFFQ, events are generally open to all. Event participants are either members of the association (40%) or non-members (60%).
The organization uses its numerous events to share its message and promote its programs to the general public.
When event marketing is directed at customers, the company may want to present its products and services or communicate a repositioning elegantly.
Ceremonies, galas, and special events are often tools to strengthen the bond between the client and the brand.
It can also be an opportunity to highlight a special moment or set the tone for a new promotional campaign.
The event’s objective should align with the communication plan’s objectives.
The objectives of an event intended for partners or employees, such as a pop-up 5 to 7 or a Christmas party, may differ from those aimed at customers. However, the fundamentals of event marketing remain the same.
The organization may want to facilitate relationships between employees or foster connections between people from different departments who usually don’t have direct contact with each other.
In any case, creating a corporate event will always aim to highlight the company’s values and share them skillfully with the attendees.
The AFFQ organizes over 70 events per year. These events take various forms, such as professional development and networking activities (Les Étincelles or Carrière 4.0) or interventions with young people in schools.
The organization’s flagship event is undoubtedly the Gala Les Talentueuses, which annually brings together 650 people to celebrate the careers or achievements of women who stand out in finance.
Event marketing can also be deployed during client appreciation nights, where VIP clients are invited to experience a unique, specially crafted event.
For organizations looking to raise funds, virtual events have become a must. For these organizations, event marketing must reinvent itself.
The event format will be chosen based on the marketing objective and the message the organization wants to convey.
“What is not measured cannot be improved.”
Event marketing is similar to other areas of marketing. An evaluation must be conducted to understand whether the initial objectives were achieved. We want to measure and analyze the results obtained through event marketing.
A company may not always generate revenue from an event, as events are often offered free of charge to participants.
Therefore, financial evaluation must be adjusted. An interesting concept is to transform the famous ROI (Return on Investment) into ROO (Return On Objectives).
The company will assess the event’s effectiveness using the following points:
For Ms. Cantin, the questions to ask when creating a corporate event are: “Did we succeed in touching the event’s deep value, and did we effectively communicate it through its branding?”
For the AFFQ, the return on investment is closely linked to the brand identity created through event marketing. This identity will become an ambassador for the organization for many years.
As we have seen, creating a unique signature for each event allows it to shine.
The AFFQ, after more than 10 years of event marketing, remains true to its values.
“Each year, with the help of Lulu événements, we rise to the challenge of keeping the Gala Les Talentueuses fresh, taking it to new places, and doing so with the sensitivity necessary to truly understand the clientele attending the event.”
With the massive entry of millennials into the workforce, event marketing is more relevant than ever.
An essential tool for companies or organizations focused on customer experience (or engagement), event marketing now takes its rightful place in the broader marketing sphere.
https://eventbrite-s3.s3.amazonaws.com/marketing/Millennials_Research/Gen_PR_Final.pdf
https://www.lesaffaires.com/mes-finances/consommation/investir-dans-les-milleniaux/596108
https://www.definitions-marketing.com/definition/marketing-evenementiel/
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