2018-01-31 00:00:00 Marketing a Business English Discover the many potential benefits that event marketing may offer for your small business, and learn some key tips on how you can access... https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2018/02/Icecream-Maker-Doing-An-Event-Marketing.jpg https://quickbooks.intuit.com/ca/resources/marketing/benefits-event-marketing-small-business/ 3 Benefits of Event Marketing for Your Small Business

3 Benefits of Event Marketing for Your Small Business

3 min read

Using event marketing is an excellent way to expose your small business to a host of new prospective clients. Even on a budget, your business can still take advantage of events to improve your company’s visibility and position in the marketplace.

Getting Involved in Event Marketing

Event marketing is pretty straightforward: you market your business at events. Event marketing is basically a promotional strategy that involves meeting face-to-face with clients and prospective clients at gatherings such as a concert, charity, sporting event, or conference. Depending on the type of your small business, it may be a good idea to bring a sample product or a few minutes’ worth of a service along (think of five-minute massages offered at a charity event) to give people a taste of what your company has to offer. In most cases, you can contact whoever is hosting the event and pay a small fee to have a table or booth at the gathering.

You can also host your own event. Even if you’re operating on a tight budget, you can still put together a cost-effective event that allows you to easily enjoy increased interaction with existing and potential customers. For example, if you run a small bookstore, consider having an author do a reading or book signing. Hosting your own event also makes it easier to draw in potential customers from your target market.

Benefit One – Interacting With Customers

Event marketing is a really great way to meet your clients and allow you both to put faces to names. This is a major benefit for your business because it humanizes your company. Research shows that customers are much more likely to patronize a company with which they feel personally connected. Having one-on-one interactions with customers and potential patrons makes it possible to build personal relationships and emotional connections. These customers are then more likely to be receptive to other marketing campaigns and also generally more forgiving when prices change, stock runs out for periods of time, or other problems arise.

Benefit Two – Events Are Networking Goldmines

Events are not only a good way to meet customers, they’re also a good way to make important business contacts. Having the right contacts benefits your business in a variety of ways. An arsenal of people in different fields that you can reach out to opens up new marketing opportunities, makes it easier to get the supplies you need (usually at a discount), and gives you the opportunity to expand your company. If you ever move your business, or open other locations, contacts from the area you’re expanding into can help you learn the layout of the market and connect you with others who can help you navigate the area and begin operating efficiently and effectively.

Benefit Three – Events Increase Revenues

This benefit is especially obvious when it comes to hosting your own events. Any time a well-planned event is carried out, you can see a return on your investment. For your small business, these events often create an immediate, noticeable stream of extra sales and cash flow, particularly for events that are held in a retail location. With the book store event example mentioned above, the owner should see an instant increase in book sales. If you own a small spa and provide brief, free demonstration massages in your salon, you should see a definite increase in appointments for full massages. Events are also a means to draw in foot traffic that usually ends up with a purchase or clients arranging for a service.

Whether you host your own event or just attend someone else’s event, your small business can benefit greatly. Event marketing is an optimal strategy to boost the financial success of your small business.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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