In today's lightning-paced world of marketing, do events and conferences still hold a significant position in your marketing toolkit?
While they demand meticulous planning and often represent a hefty chunk of your customer acquisition cost, the answer is a resounding YES—events are indispensable!
In my continuing quest this year to simplify the definition of "What's Marketing?", what I absolutely know is that the essence of Marketing's success lies in one basic principle: "Generate qualified leads that yield desired outcomes at the lowest sustained cost!"
No fluff. No vague terminology. Just results-driven results, measured by expense over numbers of days.
If we opt to include events in our marketing arsenal, acknowledging their substantial cost, we must exercise even greater discipline:
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Direct Sales Capability:
Events should offer opportunities for immediate product sales. Consider a recent B2C pop-up event for our Tufts entrepreneurs, where hundreds purchased products, providing both revenue and valuable feedback. https://derbyecenter.tufts.edu/ -
Uniqueness: Stand out from the crowd! Whether it's a symposium on climatetech or an annual conference, differentiation is key. I recall how HubSpot, in its infancy, captivated attention with everyone wearing orange jumpsuits and providing short innovative demos using iPads.
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Expense Management: Beyond venue and fees, scrutinize necessity. Ask: "How many attendees are essential?" and "Do all sales representatives need to attend?" Rationalize expenses to maximize ROI.
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Defined KPIs Consensus: Establish clear, measurable goals. Determine prospect interest indicators, follow-up protocols, messaging strategies, and conversion rates—all within a rapid time frame. Without strict KPIs, event participation lacks purpose, and just maybe, you shouldn't attend at all.
This week's highlights showcase the power of impactful events:
At my Wednesday's Tufts Marketing class, we were honored to host David Meerman Scott, renowned for his expertise encapsulated in our course bible: "The New Rules of Marketing and PR" His visit was nothing short of transformative, from AI insights to engaging anecdotes about The Grateful Dead.
The session was met with enthusiastic participation, culminating in a standing ovation—a testament to David's unmatched prowess in the field.
In my two decades of teaching marketing, David stands out as an unparalleled luminary in the field.
