Generating Revenue With Event Marketing · The value and success of local event marketing is based...

Amie Stein

Director of Training & Development Local Media Association

@amiestein [email protected]

Generating Revenue With

Event Marketing

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

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,

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.

• 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.

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.

Benefits of Local Events to Local Media

• 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.

Case Studies-Utah Media Group

Event Types Include the Following:

Case Studies-Utah Media Group

• 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.

• $1 million annual revenue stream

• 12 Events per year

• Full supported by newspaper marketing and sales team

Case Studies-Chattagnooga Events

Events Include: • Kidz Expo • She – (A Women’s Expo) • the Man Xpo • The Bridal Affair

Case Studies-Chattagnooga Events

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

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?

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.

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

Partnership Events

• Art Fairs

• Chamber of Commerce

• Business/Trade Associations

• Government Organizations

• Non-Profits

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 ________

HOW DO WE MAKE MONEY AT THIS?

Ticket Sales to Public Sponsorships Exhibitors Direct Pay for Service

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

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

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.

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.



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.

- 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

Home & Living Shows

Capitalize on the resurgence In Home Improvement, DIY & Homescapes

Women/Family/Baby Expos

Target event to this key audience, and provide fun & shopping


- Partner with hospitals or local experts

- Fashion Shows/Demonstrations


- Secure outside media partners

- Marketing (digital, social, print, niche)


- Hundreds of vendors in your region


- Bridal Fashion Show- Partner Locally


- Partner with Bridal Magazines/Sites

- Create Niche Sites/Magazines



Bridal Expos

Become the hub for everything bridal in your market

Real Estate

- Create A Regional Tour of Homes


- 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


Revenue Potential $10K-$50K

Real Estate/Home Shows

Home-A-Rama/ Tour Of Homes

- 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



Cooking & Lifestyles Shows

Host Local Food Show, Expand It To Fashion & Lifestyles

- 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

Align Priorities

Manage It With Existing Staff

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

Marketing Your Events

• Digital Marketing/Your Sites

- Rich Media

- Niche Channels/Sites

- Pre-Roll Video

- App

- Email to Opt-Ins

• Outside Media

- Search Campaigns

- Facebook/Pinterest/Instagram/LinkedIn

- Contesting via Social/Print

Create Niche Sites or Landing Pages Marketing Your Events

Develop Content Plan for Stand-

Alone Publications/Magazines

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

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

Sample P & L: Event Marketing – Shows

Revenue - Sponsors $20,000 (10 @ $2,000) - Exhibitors $40,000 (100 @ $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%

Home & Living Shows/ Women’s Expos

Sample P & L: Event Marketing - Retailer Festivals

Revenue

- Categorical Sponsors $7,500 (5 @ $1,500)

- Exhibitors $6,000 (40 @ $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

Fall Festival - Shopping Center


Sample P & L: Event Marketing – Lifestyles/Cooking

Revenue

- Categorical Sponsors $4,500 (3 @ $1,499)

- Exhibitors $9,000 (30 @ $299)

- Tickets $12,000 (1,000 @ $12)

Total: $25,500

Expenses

- Venue Rental $3,000

- Taste of Home Show Host $2,500


- Outside Marketing $2,000

- Staffing: $1,000

Total: $8,500


Cooking & Lifestyles Show

Sample P & L: Event Marketing - Bridal

Revenue

- 6 Categorical Presenting Sponsors $6,000 (6 @$999)

- 80 Exhibitors $24,000 (80 @ $299)

- Tickets $12,000 (800 @ $15)

Total: $42,000

Expenses

- Venue Rental $4,000

- Tables/ Chairs Rental $1,500


- Outside Marketing: $5,000 (social media/ bridal niche)

- Printing/ Bridal Guide $2,500

- Staffing $1,000

Total: $14,000


Regional Bridal Shows/ Bridal Fairs

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!

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!

Amie Stein

Director of Training & Development Local Media Association

@amiestein [email protected]

Thank You! Questions?

Generating Revenue With Event Marketing · The value and success of local event marketing is based...

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