Event Marketing Summit – Day 1: Three Key Takeaways
Posted by Lori Ryan / May 8
Phew. Day 1 of the 12th annual Event Marketing Summit was jam-packed, filled with dozens of sessions, speakers, and brands. I was blown away by both the quality of the information, as well as the vast knowledge of the speakers. While there’s a little break in the action on Day 2, let’s take a look at three key takeaways from yesterday:
Measurement is KEY: In event marketing, traditional measurements such as ROI can be a challenge, but it is something that brands are demanding (and needing!) now more than ever. To finally be able to determine this “holy grail”, the key is being TRUE partners with our clients – we need to have an in depth knowledge and understanding of their business values to be able to properly determine ROI.
Use your data!: Were you aware that only 11% of marketers’ decisions are based on data??? Neither were we! So, if they aren’t basing their decisions on data, what are they using?
- Past Experience/Intuition
- Colleague recommendation
- Conversations with experts
- One-off customer interactions
While qualitative information is always crucial to a proper marketing decision, the key takeaway here is to always be sure to combine it with strong data points, it could lead to a 15-20% increase in ROI
Retailers are changing: Duh! This may sound a bit obvious, but it is how they are changing that is something to keep your eye on. Retail stores are becoming more EXPERIENTIAL to compete with the convenience of online, on demand shopping. Key trends include creative an immersive experience by utilizing the following:
- Surprise & Delight
- Smart Use of Technology
- Omnichannel Shopping
- Deep Customization
Keep an eye out the next time you are shopping in a brick & mortar retail store to see how these tactics are being utilized in your favorite stores.
Time to get back into Day 2 of the 2014 Event Marketing Summit! Keep an eye out for the Day 2 recap tomorrow and, if you’re at EMS, be sure to stop by our session, “The 360-Degree Sponsorship: Digital + Live + Celebrity”, tomorrow at 2pm!