The idea of being illiterate when it comes to events is the act of hearing a new idea and your first thought is how it won't work. This accusation is harsh but a realistic question in this day and age where meetings and events look differently than ever before. No longer are there attendees at an event, but rather participants; no longer can we classify by demographic, but rather by cycle graphics; no longer can we depend on email marketing to reach the masses.
What do I mean by this:
With this in mind, what trends should we be looking to or considering for the future so that we do not become event illiterate?
"94% of executives believe that events are worth the time and financial investment because they drive revenue, leads and retention." (Drew Neisser, Founder & CEO of Renegade) This is only true if we stay relevant and not event illiterate.
What do I mean by this:
- Participants - more than ever before, your guests expect to attend an event where they are fully participating & experiencing the event their own way. In fact, according to Reggie Aggarwal of Cvent, the Millennial Generation is 3 times more likely to spend money on an experience rather than an object/thing. In a nation wide poll, 61% of millennials picked experience over product. By creating participants, you amplify the "Event Effect" where you compel the participants to believe in your company/mission and its success.
- Cycle Graphics - no longer can you classify a person's wants or habits solely based on their demographic. Cycle Graphics insinuates that personal habits and taste cross demographics and generations, therefore making these classifications dead when considering your audience. Mike Dominquez, Senior VP of Sales for MGM Resorts International points out that within the Millennial Generation, the differences are astounding. The original fear and assumption with the Millennials was a generation bouncing from job to job with no understanding of commitment or work ethic. However, today you can see a 27-35 age group that is settled fully into their careers, steady finances and resembling more of the Baby Boomer Generation than their own generation. These Millennials look very different then their younger generation comrades by both action and interests. Therefore, knowing your participants interests, understanding their life position and values, will allow you to create effective event strategy.
- Email Marketing - email is among the top six ways to effectively market your event. It shares the spotlight with social media, video, word of mouth, company website, and print, quickly becoming the lesser of importance. Therefore, this strategy should be used as a tool and not the end all for marketing.
With this in mind, what trends should we be looking to or considering for the future so that we do not become event illiterate?
- Mobile Apps - not only does a mobile app give you 65% average cost savings right out of the gate, this technology allows your participants to fully experience your event through the interactive tools, polling, and networking opportunities that a mobile app provides. According to a poll done by Crowd Compass, 83% of current event participants are no longer dependent on printed materials when arriving at an event; by 2016 that number is anticipated to grow to 91%)
- Video - the number one reason people get online today is for video. Video should be included in both your email and social media marketing. It should add to the element of creativity, provide a teaser for what's to come, and even allow for interaction among the event participants.
- Reinvent or Re-brand? - we must ask ourselves what is sacred, or has always been, within our event and consider eliminating it. It is difficult to stay relevant if we continue to do what has always been. With the movement of "demographic being dead" and seeing the cross interest among generations, we MUST STAY RELEVANT and understand the need or we will fail. It's a mental shift in creating an experience for your participants, not just something they attend.
"94% of executives believe that events are worth the time and financial investment because they drive revenue, leads and retention." (Drew Neisser, Founder & CEO of Renegade) This is only true if we stay relevant and not event illiterate.