ISES Melbourne hosted a breakfast session at RSVP Melbourne with guest speaker Adam Joseph, Readership Director at Herald & Weekly Times.
His topic entitled Are you experienced? focussed on experiential marketing – one of the classic ways events are used in the marketing world.
Adam started with definitions of just what marketing is. I’ll just take the definition from the Australian Marketing Institute “Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives”
From there he looked a The Marketing Mix and the Promotional Mix and how they can be blended together via the use of special events i.e. Special events = Special experiences
A number of quotes are worthwhile repeating here
“Ambitious marketers are taking their communications budget – millions of dollars – and instead of advertising they are deciding to prove their brand proposition in ways that stretch beyond the product itself, and at the same time make people happier … Red Bull puts its advertising dollars into events that prove the proposition – energy” Adam Ferrier of Naked Communications
“Five, fifteen, even sixty-minutes may not sound like a lot of time – but consider this engagement window against the split-second interactions of a consumer hitting “mute” when a 30-second TV spot comes on, closing out a pop-up ad or throwing away unopened direct mail. Business-to-business marketers have long understood how time figures into effective sales and marketing. That’s why smart b-to-b marketers dedicate so much attention not only to choosing the right trade shows and conferences to participate in, but also to ensuring that the experiences they orchestrate there have baked-in stickiness and interactivity” Liz Bigham, SVP, Director of Brand Marketing, Jack Morton Worldwide in a white paper on Experiential Marketing ROI.
In order to being the point home further Adam approached five major events agencies in Melbourne and asked each of them for one Australian-based case study to spruik at the RSVP event. He presented those case studies using slides/words taken directly from the agencies documents.
I’m not going into those case studies but suffice to say they were very illuminating for those present at the breakfast.
Adam’s summary was a look at how to quantify the Return On Marketing Investment
Marketers, he said, should ask three fundamental questions about special events and experiential marketing activity:
- 1. Will the event/experience strengthen brand equity? (brand awareness + brand associations)
- 2. Will the event/experience improve sales performance in the short or longer term (and how do we measure it)?
- 3. Will the event/experience generate word-of-mouth (advocacy) or good publicity in traditional or social media?
A most illuminating presentation.
To illustrate just how successful a marketing event can be – check out this video on a brilliant campaign by Heineken