The importance of events in a company's marketing strategy



Author: Janine Jenksman

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Date of Publication: 21/11/2022





In person interaction enables hosts to speak directly to the target audience through a two-way communication.

In person interaction enables hosts to speak directly to the target audience through a two-way communication. In this way, we build trust and a rapport with our potential clients. Hence, an ongoing relationship with attendees is more likely to increase and build customer loyalty.


What are the benefits and drawbacks to holding events?


Benefits

  • Attendees gain confidence with knowing the genuineness of the company

  • Some events can take place virtually. This means that several people around the world can participate without having to take travel and accommodation costs into consideration.

  • Fashion designers are able to have runway shows that will be televised and shared all over social media. Even after the event takes place, major recognition will be drawn for the brand. In particularly amongst influencers and celebrities, who may wish to collaborate on social media apps such as tiktok and instagram.

  • Events allow for trial and error to take place and possibly experiment with customers with a smaller gathering to discover their dislikes. Utilising constructive criticism, will make the second event refined, better and available to a larger amount of people.

Drawbacks

  • The cost of hosting an event seems daunting to upcoming companies that have low initial investment available to spare

  • There is a limit to the maximum number of people who can come and sometimes the event might not cater to a huge amount of guests. Thus this could cause a lot to miss out. In addition, if the event can’t take place virtually, even more people won’t attend it.

  • The reputation of the company is at risk. Therefore, making sure that the event will be fairly effective is significant to avoid major negative media projection. Although you have complete control, there are many uncontrollable factors that can harm your reputation when it comes to events.

  • The energy and time that is put into planning, marketing, and carrying out a hosted event needs a lot more thought than you might anticipate. If this is something you would like to delegate to an external company contact us for more information Info@visionfactory.org.


An event will showcase the validity of the cause and will be acknowledged as a trustworthy company and therefore the attendees willl have confidence in the brand’s products and services.

Why should a company organize or participate in events?

An event will showcase the validity of the cause and will be acknowledged as a trustworthy company and therefore the attendees willl have confidence in the brand’s products and services. Additionally, events have a positive impact on lead generation and consumer happiness. However, event organizers can also gain additional insight into the requirements and problems of their customers, which allows them to improve their marketing and product/service plans. Trade exhibitions as part of automobile companies for example, where businesses from all over the world exhibiting their goods or services. They offer a window into the world of fresh concepts and market trends. Attending a trade exhibition can assist you in learning about the designs, caliber, and materials that investors and distributors are looking to buy. Moreover, businesses use trade exhibitions as a platform to launch novel ideas. By exhibiting, you get the opportunity to learn about any changes in the industry before anybody else or from reading about them online. Trade exhibitions also provide you with the chance to see your rivals and spot any market gaps you might get prepared to capitalize on.


 

At vision factory we have previously successfully promoted events which have catered to international needs. We have a great team of members that specialize in this department. Visit our website https://www.visionfactory.org and view our work and blogs explaining how we have helped other companies host successful events.

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