Generating Revenue With Event Marketing. Amie Stein Director of Training & Development Local Media

Transcription

1 Generating Revenue With Event Marketing Amie Stein Director of Training & Development Local Media

2 What We ll Cover Top events that every market should consider Best categories for event sponsorships How to price sponsorships and packages How to manage events with existing staff Some small events worthy of consideration Best ways to market events An event checklist/sample P&L

3 10% of all marketing money spent in the United States is on things related to events that s upwards of $40 billion. *According to Outsell Research,

4 In early 2015, CareerCast came out with a list of the 10 most stressful jobs in the United States. What was No. 8? Event planners.

5 Benefits of Local Events to Local Media Local media has credibility already with the local community that most other companies can t match. Local media companies already have a huge network of relationships with potential advertisers, partners, service producers, and vendors, who can help in making events great.

6 Benefits of Local Events to Local Media One of the most significant costs of any event is marketing and awareness, but media companies have a suite of resources at the ready for public communications and can access those at a reduced cost (if not free). Local media companies already have great awareness and knowledge of their audience and powerful local brands that can host events.

7 Case Studies-Utah Media Group Largest event producing company in the state of Utah. $7 Million in annual revenue Started as an events division of two Salt Lake City newspapers.

8 Case Studies-Utah Media Group Event Types Include the Following: 40 Under 40 Woman to Watch CEO of the Year Consumer Shows (Bridal, Home, Lifestyle) Government Partnerships (Energy Summit) ComCons Best of Preps They have been so successful, they now offer a full convention and events management platform, which they white label.

9 Case Studies-Chattagnooga Events $1 million annual revenue stream 12 Events per year Full supported by newspaper marketing and sales team

10 Case Studies-Chattagnooga Events Events Include: Kidz Expo She (A Women s Expo) the Man Xpo The Bridal Affair Sales division has monthly goals for events just as they would any other core product. They actually did an industry event to show others how to do events

11 Consider Your Audience The value and success of local event marketing is based on understanding the relationships you have with your audience. Who Are They? What Do They Value? What is Their Consumerism or Lifestyle? How Can You Be a Resource to Them?

12 What Types of Events Should You Seek Out? Partner With existing events that need life or Re-Branding Create new events where there is a gap Compete with existing events the newspaper can leverage their marketing power and relationships to improve Events which have a symbiotic relationship with your content.

13 Top Local Events Home & Living Shows Bridal Shows Women s Expos Cooking & Lifestyles Shows Family Expos Shopping Center Festivals Auto Dealer Events Outdoor/Boat Shows

14 Partnership Events Art Fairs Chamber of Commerce Business/Trade Associations Government Organizations Non-Profits

15 Newspaper Sponsored Best of Preps/Scholar Athlete Business 40 Under 40 Woman of Achievement World s Largest Flea Market Dog Show/Pet Contest Taste of Best of

16 HOW DO WE MAKE MONEY AT THIS?

17 Ticket Sales to Public Sponsorships Exhibitors Direct Pay for Service

18 Recommended Categories For Major Sponsorships Women s/ Family Expos - Medical/ Specialized Services/Hospitals - Financial/Banks/Credit Unions - Jewelers - Grocery Home & Lifestyles - Service (Home/Homescapes) -Kitchen/Bath (Home Improvement) -Medical/ Specialized Services -Financial/ Mortgage -Grocery

19 Recommended Categories For Major Sponsorships Cooking & Lifestyles Shows - Fitness/Wellness - Grocery - Appliance Stores - Home-Based Festivals & Sales Events/ Spring & Fall -Shopping Centers -Malls -Auto Dealers -Major Medical

20 How To Price Sponsorships & Packages Premier or Presenting Levels - $1,500-$5,000 or more per sponsor for community events, such as shopping center and malls. These sites appeal to many major sponsors because it provides a new scene for product. - Ideal for categorical sponsor rights that don t conflict with an existing store merchant: Prospects include Auto Dealer, RV Dealer, Hospital, Medical Specialty, Boat Dealer. - Packages Include: Demo space for 2-3 vehicles or triple booth space for personnel, banner signage, logo/name across top of all event marketing, 50 free event tickets, public address announcements, and ad space in event guide.

21 How To Price Sponsorships & Packages Event Sponsors - $999-$1,999 or more per sponsor for newspaper-hosted events, such as Bridal Expos, Cooking & Lifestyles Shows, Family Fests, Women s Expos, etc. - Ideal for categorical sponsor rights. Create multiple categories and secure one main sponsor per category. - Packages Include: Triple exhibitor space, 30 minutes demo/stage time, banner signage, logo/name across top of all event marketing, public address announcements, 50 free event tickets and ad space in event guide.

22 How To Price Sponsorships & Packages Booth/ Exhibitor Packages - $249-$599 or more per exhibitor - 8 x 10 space/ Table/ 2 Chairs/ Wifi - Packages Include: single booth space, business name in all event marketing, and ad space in event guide.

23 Home & Living Shows Capitalize on the resurgence In Home Improvement, DIY & Homescapes - Sponsorships & Booth Packages - Partner with HGTV or local experts - Demos on stage throughout show - Packages sold by existing sales force - Secure outside media partners - Diverse Marketing (digital, social, print, niche) - Revenue Potential $25K-$75K

24 Women/Family/Baby Expos Target event to this key audience, and provide fun & shopping - Sponsorships & Booth Packages - Partner with hospitals or local experts - Fashion Shows/Demonstrations - Packages sold by existing sales force - Secure outside media partners - Marketing (digital, social, print, niche) - Revenue Potential $20K-$60K

25 Bridal Expos Become the hub for everything bridal in your market - Hundreds of vendors in your region - Sponsorships & Booth Packages - Bridal Fashion Show- Partner Locally - Packages sold by existing sales force - Partner with Bridal Magazines/Sites - Create Niche Sites/Magazines - Marketing (digital, social, print, niche) - Revenue Potential $20K-$60K

26 Real Estate/Home Real Shows Estate Home-A-Rama/ Tour Of Homes - Create A Regional Tour of Homes - Sponsorships & Booth Packages - Sell Each Homebuilder A Package That Includes 1-2 Neighborhoods or 3+ Neighborhoods - Demo Tent With Exhibitors & Tour of Homes Guide - At First Stop On Tour - Partner With Homebuilders Association & Realtors - Marketing (digital, social, print, niche) Revenue Potential $10K-$50K

27 Cooking & Lifestyles Shows Host Local Food Show, Expand It To Fashion & Lifestyles - Taste Of Home Presents 3 Hour Show - Host Media Company Sells Stage Sponsorships to Appliance & Grocer Sponsors, As Well As A Fashion Show Sponsor - Appliance store provides appliances for stage and grocer provides food for show - Host Media Company Sells Booth Packages - Exhibitors Required To Provide Items For Goody Bags (for attendees) - Host Media Company Sells VIP Tickets/ General Admission - Marketing (digital, social, print, niche) - Revenue Potential $15K-$30K

28 Manage It With Existing Staff Align Priorities - Ad VP/Manager & Marketing Coordinator orchestrate kickoff - Meet once weekly year-round to review new/work on existing opportunities - If niche or marketing staff is not available, then existing sales staff sells sponsorships and booth packages - Reps receive commission and/or spiffs from event marketing (part of goals) - Marketing coordinator handles event logistics post-sale through day of event

29 Marketing Your Events Core Products - Print House Ads - Poly-Bags - Stand-Alone Section - Inserts - Post-Its Partnership Media - Billboards - Signage at Sporting Venues - Broadcast Partners - Cinema Partners

30 Marketing Your Events Digital Marketing/Your Sites - Rich Media - Niche Channels/Sites - Pre-Roll Video - App - to Opt-Ins Outside Media - Search Campaigns - Facebook/Pinterest/Instagram/LinkedIn - Contesting via Social/Print

31 Create Niche Sites or Landing Pages Marketing Your Events

32 Develop Content Plan for Stand- Alone Publications/Magazines

33 Venue Checklist Convenient/Secure Venue Easy Load-In/Out For Vendors Identify capacity (attendees/vendors) Plentiful Parking Presenting Sponsor Spaces Identify number and sizes of exhibit booths (electric/wifi/skirting/table sized) What will partner media presence be Tickets/ Admission Process Identify staging needs F & B if applicable

34 Event Checklist Demos/ Exhibitor Communications Entertainment Contests & Prizes Guide/ Handout (Layout/Booths) Goody Bag For Attendees Emcee (optional) Staffing/ Shifts Marketing Plan/6-8 Weeks Out Media Coverage Of Event

35 Sample P & L: Event Marketing Shows Home & Living Shows/ Women s Expos Revenue - Sponsors $20,000 $2,000) - Exhibitors $40,000 $399) - Tickets $12,000 (1,000 $12) Total: $72,000 Expenses - Venue $9,000 - Tables/ Chairs/ Stage Rental $2,500 - In-House Marketing (Varies) - Celebrity $5,000 - Printing/ Insert & Program $3,000 - Outside Marketing $2,000 - Staffing $1,500 Total: $23,000 Estimated Profit Margin: $49K/ 60%

36 Estimated Profit Margin: $13K/ 65% Sample P & L: Event Marketing - Retailer Festivals Fall Festival - Shopping Center Revenue - Categorical Sponsors $7,500 $1,500) - Exhibitors $6,000 $149) - Shopping Center Marketing Package $5,000 Total: $18,500 Expenses - Craft Pumpkins For First 500 Attendees $1,000 - Hayrides $1,000 - Magician/ Face Painters/ Clowns/ Mascots $2,000 - In-House Marketing (Varies) - Printing/ Insert $1,000 - Staffing: $500 Total: $5,500

37 Sample P & L: Event Marketing Lifestyles/Cooking Cooking & Lifestyles Show Revenue - Categorical Sponsors $4,500 $1,499) - Exhibitors $9,000 $299) - Tickets $12,000 $12) Total: $25,500 Expenses - Venue Rental $3,000 - Taste of Home Show Host $2,500 - In-House Marketing (Varies) - Outside Marketing $2,000 - Staffing: $1,000 Total: $8,500

38 Sample P & L: Event Marketing - Bridal Regional Bridal Shows/ Bridal Fairs Revenue - 6 Categorical Presenting Sponsors $6, Exhibitors $24,000 $299) - Tickets $12,000 $15) Total: $42,000 Expenses - Venue Rental $4,000 - Tables/ Chairs Rental $1,500 - In-House Marketing (Varies) - Outside Marketing: $5,000 (social media/ bridal niche) - Printing/ Bridal Guide $2,500 - Staffing $1,000 Total: $14,000 Estimated Profit Margin: $28K/ 65%

39 So.Why Event Marketing? Impact - Leverage Your Brand(s) - Create New Partnerships - Replace Stale Sections/Products - Fun Way To Involve Staff - Get A Slice Of The Very Lucrative & Vibrant Event Market On Your Doorstep!

40 Things to Remember This is an extension of your brand. Make decisions based on the values of your product, your audience and your community. There will be expectations of the level of professionalism. Make sure you can pull it off. Ok to start SMALL!

41 Thank You! Questions? Amie Stein Director of Training & Development Local Media