Growing revenue by acquiring new subscribers: here’s how the experts do it
Settling back into work as we kick off 2019 (which we all know is going to be a bit of a rollercoaster ride!), the MPG team has taken some time to reflect on the key challenges and opportunities our customers and
wider community are likely to face:
1. Events will be more important than ever before
In times of extreme uncertainty, imminent change and heightened risk – meeting face-to-face with other professionals facing the same challenges is one of the best ways to proactively acquire valuable intelligence and essential contacts. Responsible companies will want their ‘fingers on the pulse’ of their customers and their industry. Many will find that sharing and collaborating with their industry peers is the best way to find solutions and opportunities.
In 2019, event marketers will need to be highly attuned to the burning questions and priorities of their customers – attendees, sponsors, exhibitors, speakers and other event stakeholders. Our deep empathy and a keen understanding of what matters most will be essential in creating and effectively communicating event value propositions and marketing messages.
2. Event customers will be more discerning and protective of their time
At MPG we have always believed that event customers will always
In 2019 it will be even more important for event content, speakers and programme formats to be highly relevant and very well executed to deliver exceptional ‘value for time’ and a good experience.
Event marketers will need to get products to market early. We will also need to ensure our messaging is highly relevant and compelling to stake a claim to some precious days in diaries.
3. Strong brands with excellent events will win
For B2B media brands, events will become even more important for brand engagement and value delivery – especially within ‘core customer’ groups. Brand equity will be a key part in attracting customers to events – with the confidence and trust they have in a brand playing an important part in decisions to devote some of their precious time (and budget) to participating in an event.
Events businesses will also start prioritising brand building as they recognise the importance of being more customer-focused rather than product-focused.
More B2B media and events businesses will understand that their brands belong to their customers and that being responsible brand custodians means investing in the unique and genuine value a brand delivers to the community it serves.
In 2019, event marketers should relish and take full advantage of the opportunity to strategically build brands that will help attract high quality event customers – embracing the exciting opportunities for strengthening content-led, inbound and brand-led marketing.
4. Referral and influencer marketing will come to the fore
In times of uncertainty, event customers will do all they can to reduce the risk of wasting their own time or their company’s money. They will also be more mindful of protecting and building their personal brands – carefully considering how their managers, peers and potential future employers perceive their involvement in the events they choose to participate in.
Event customer acquisition and retention will rely more on validation and referrals from trusted colleagues and influencers – to reduce risk and protect reputations.
In 2019, event marketers need to truly embrace the ‘human-to-human’ movement. Our marketing programmes need to consider how key individuals – who are influential with our event customers – will become brand advocates and publicly support our events. And we’ll need to be acutely aware of ‘WIFM’ (‘what’s in it for me’?) when putting together plans to get the right messages to the right people at the right time.
5. Customer insight and data will be in high demand for good decision-making
To be more confident in their decisions and strategies, senior managers will push their teams harder to produce valuable insight on customers and their
Event marketers are the natural owners of customer insight and in 2019 will need to take more responsibility for collecting and analysing data that helps the business understand how customers are engaging with their events (and potentially the wider business). Business leaders will also have to make strategic investments in the skills and resources needed to make this possible. If this investment is made well, the return should be excellent – especially in the long run.
6. Deeper personalisation will be key to event customer engagement
Although artificial intelligence is showing strong potential for delivering a more personalised customer experience, in 2019 most organisations will still be relying on a more manual approach to ensuring the content and messages served up by marketing to targeted audience groups is highly relevant.
Getting the right message to the right person at the right time will be more important than ever. And having a well organised customer database is the first step to making any personalisation possible – whether driven by AI or more manual means.
In 2019 event marketers will need to focus on getting the most out of their CRMs/marketing database systems – ensuring their #1 priority is organising the database of customer and prospect records so that targeted marketing is possible, even if more manual than we would like it to be.
7. The full range of skills needed for event marketing will be recognised
Effective event marketing requires a team of marketers – each with specific skill sets. 2019 will be the year business leaders
Marketing is a deep and broad discipline, and events require a very specific type of product marketing that is very different from other types of product marketing.
In 2019, event marketers will be recognised as a unique, valuable and scarce resource. Businesses will start thinking differently about how they acquire and retain the skills needed to create and drive effective event marketing strategies and campaigns. Upskilling, outsourcing and partnering will be explored as ways to fill the critical resource and skills gap in event marketing.
Even though these predictions take in to account the unique challenges we’re likely to face in 2019, we believe all the above would be on the horizon regardless of Brexit or Trump-fuelled uncertainty.
As consumers become more powerful, a more collaborative and sharing-based economy emerges and our world becomes fully digitally-enabled, event customers will demand more from the event brands they choose to nail their colours to.
Event marketing needs the right kind of investment to make the essential strategic contribution required to drive growth – which is possible even in difficult times. B2B media brands and events-focused organisations that can think differently about how they invest in marketing for the best return will be the winners in 2019 and beyond.
MPG accelerates the growth for conferences and exhibitions. We deliver:
Get in touch to find out how MPG’s marketing approach has consistently achieved 40%+ annual growth for events.
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