Event teams can adopt a classic marketing model to focus efforts and achieve their objectives.
In early 2013, Harvard Business Review posted an article titled, “Rethinking the Four P’s” suggesting that the classic marketing mix model1 (product, place, price, and promotion) should be retooled to better address the needs of B2B marketers. The article was based on a five-year study of more than 500 B2B marketers worldwide, and suggested a model that explicitly emphasized more “current” commodities such as solutions and value.
The “Four P’s” durability over time is arguably due not to its rigidity, but to its flexibility. It often expands to six or more P’s, folding in such concepts as people, packaging, positioning, process, performance…the list goes on.
The “P’s of Event Marketing” defines parameters that can be used to ensure that all aspects of event strategy, experience design, and execution support core marketing objectives and are aligned with broader marketing strategies.
The P’s of Event Marketing include the following elements: Place, Purpose, Pride, and Promotion. At a glance, these may seem more similar to the original Four P’s of Marketing than they actually are.
Sense of Place – sense of place for an event marketer is not about geography or venue. It’s about “owning” the space as if it was yours, your office or your “home”. When the audience arrives do they get the feeling that this is your place or just a venue you rented that you will be leaving soon? Does it feel like an executive visitor center, your ideal game room, your best research facility, or lobby to your global headquarters? Is it unique, organized, and special? It should be.
In designing a live event, you need to craft a place for experiences, conversation, information sharing, influence, and dialog that is worth the time your audience will carve out to participate. This may sound slightly esoteric, but it just might be the “secret sauce” that makes live events such an effective and desired component of the marketing mix.
The objective is to ensure that the question “Where am I?” is answered firmly with “at ____”, not just with “at a _____ Event”, or worse “a conference”.
A Clear Purpose – A sense of purpose, not generically but with regard to serving defined audience segments, is an important criteria for attracting attendees and delivering an experience that resonates. It is critical to understand Purpose in terms of what strategic marketing initiative an event needs to support (lead generation, product awareness, perception change, revenue generation, community.)
It is equally important to design the experience with a sense of purpose tailored to each audience member, with the increased levels of personalization and participation that event audiences have come to expect.
Purpose can – and should – change over the course of the event – from initial awareness to considering a purchase; from arriving to learning to departing – so the purpose may need to change over time as well. Different messages entering and leaving, on day one to day last.
Pride – Nothing kills a bad product faster than good advertising, and nothing says “You don’t need to care” more than saying “I don’t care.” The pride and passion of the host needs to shine from every corner and mountain top. How the temp staff greets the audience, how the cables are laid and how clean the venue is, how fast the social media comments are responded to. Pride is contagious, as is the lack of it, and as events are one of the most engaging live experiences the audience may have with a Brand, they need to feel the pride.
Cross Promotion – Traditional B2B marketing has evolved to a more Person-to-Person approach, a truism has emerged – inside every commercial business or technical decision maker is a consumer. Further, consumers are often fans of the products they buy, a state of engagement those who market to commercial buyers should look to achieve.
The art is in the mix of primary and secondary message, ensuring that the reasons the audience is participating are meet, and adding some unexpected, relevant cross promotions.
Note: This topic is a derivative of a recent Trends and Innovations article released by Microsoft’s Global Events and Production Studios team.