Marketing Through Event and Exhibitions in a Recession

Saturday, 10th October 2009

The rationale for holding live events in a recession has to be a good one as they can be very expensive activities, however if the right objectives are set and the right plan is put in place they can be very successful in introducing new products and building relationships with existing and potential customers.

In the good times live events can sometimes become unfocussed leading to varied return on investment. In a recession this just cannot be the case. Live events have to be relevant, timely and well planned and executed to have an impact upon the bottom line.

Tailoring the event to the business objective is essential. It has to be designed with specific purposes in mind; the problem, quite often, is showing a tangible return on investment from such an event. Setting the key deliverables expected from the outset will help to provide a benchmark for success or failure.

Live events have to be used for the right reasons. They can be very important for a product launch or generating traffic to a showroom. Many events are used for building the awareness and credibility of an organisation in their chosen field. In a recession this can be more difficult to justify as the results can be very intangible. However, this type of brand building during a recession may not have immediate impact but can put businesses in a stronger position as we come out of the downturn.

Being relevant to your audience and providing them with a reason to attend is a pre-requisite for any event, whether during a recession or not, however in a recession a person’s time becomes very valuable and it is often very difficult for them to justify attending unless it will add value or is in their own time.

An example of a successful event that The Think Tank has run through sponsorship by manufacturers is a club based around cultural events that people can attend in their spare time. The objective of the event was to provide clients with one-on-one interaction with potential customers in their showroom and to then entertain them at a cultural event. Instead of this being a one off event a club was organised where targeted individuals were invited to join. A monthly event was held for which there were a limited number of places (10-20) and guests were invited on a first come, first served basis. Their starting point for the evening was always the client’s showroom, providing the opportunity to discuss products and services on offer before leaving together for the function. This type of activity can allow valuable one on one interaction with customers but also provides a reason and desire to attend, strict control of budgets and identifiable returns.

In a recession live events can be very useful but they have to be organised well and for the right reasons. Budgets are tight and have to be spent where they will gain the best return on the investment. Only certain live events will achieve this.