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It's no surprise, with the economy the way that it is, event marketing as a lead generation vehicle is taking a hit. After all, it costs a lot of money to exhibit at, or even attend, trade shows or conferences.
Some estimate that attendance at events will be down by 60-70% this year. This data point is further emphasized by the fact that a number of events such as Saphire Germany (SAP), Apple Expo Paris and many others have already been cancelled for '09.
Mark Read, director of strategy at U.K.-based WPP Group PLC (WPPGY), says his clients are becoming more rigorous in assessing the return on investment for different types of marketing. Reed goes on to say..."Because it's often difficult to calculate how much additional revenue trade shows generate, some companies may be cutting back."
With the advent of the Internet, Web-conferencing and, even more recently, virtual trade shows, marketers are looking to leverage online events to reduce costs while remaining connected with their target audience. And while today virtual trade shows only account for 1% of the market in event planning industry, industry experts expect that by the year 2015 over 25% of trade shows will be conducted in virtual environments.
So if traditional events are part of your 2009 plan, position your event as a "must attend" and be sure to pump up your pre-show marketing. If you're considering canceling your user conference or your participation in previously attended tradeshows — look into online event marketing methods as a way to continue engaging your target audience.
Tags: event marketing