The Value of Events || 7 Reasons to Host an Event
Updated: Mar 15
With inevitable changes to budgets as we move forward it will be more important than ever to do a cost/benefit analysis on all decisions that are made. At quick glance you may strike off the event line item, but before you do let me walk you through 7 benefits to consider first.
1. Create Community
People have a yearning to belong to something, a place where they feel at home, where they feel accepted, and where they feel a part of something bigger than themselves. Have you ever thought of your brand as its own community, something that your customers are proud to be a part of and associated with? By hosting an event you can further develop and establish the community and give your whole business eco-system a place to come together, in real life, to experience what your community is and how they are all an integral part of it.
2. Establish Longevity of Relationships
Face to face time does wonders in establishing relationships. When you can have an actual conversation on topics beyond the next sale you begin to curate real and meaningful relationships. These real relationships are what take a one-time purchase to a lifelong customer. Create opportunities to develop and nurture these relationships.
3. Purpose + Giving Back
I ask you these next two questions with the intention of getting you to think beyond your revenue and what you want to accomplish with your business. What is your purpose? Your values? What causes or organizations do you feel aligned with and connected to and want to show that support publicly? An event is a great way for you to raise awareness and money for what matters to you and your business. What better way to show your customers the depth of your company than to stand up and show your philanthropic values. In addition to giving back you are creating huge positive brand value for yourself and think of the content you can create around this event.
4. Revenue Increases
Sales can come in a few ways from events. It could be from sales directly at the event or it can be longer term revenue impacts that result from the experience you provided people and the relationships you furthered at the event.
5. Brand Awareness
During an event you have, for the most part, people’s undivided attention. When an event is done right you can infuse your brand at every touch point so that guests are constantly interacting with your brand, learning, and establishing a deeper relationship. Think of all the social media shares and mentions you will get (we do in fact live in an Instagrammable world), and you will have people talking. An event is an opportunity to create conversation and really elevate your brand awareness both directly and indirectly.
6. Share your Personality
Do you ever feel it’s a struggle to effectively communicate who you are as a brand? That the constraints of social media and the digital world just don’t allow you to wholly communicate who you are, what your corporate culture is, and what you bring to the client experience? Think of how you could utilize an event to show clients, potential clients, vendors, employees, and all other stakeholders who your business is! How your business shows up with it’s own personality. You can get really creative in designing at experience that immerses your guests in your brand’s personality!
7. Be the change you wish to see + Stand Out
You’ve probably heard the terms USP (unique selling proposition), what makes you stand out from everyone else in the industry. Hosting an event and incorporating all of the above can speak volumes in how you are different. How do you want to show up for your community? What makes you the business to work with? Why not provide people with an experience that shows them exactly why you’re different. And imagine just how much you’ll stand out if no one else is hosting these opportunities for connection! You’ll really give them something to talk about!
Events, when well thought out and planned, can be a statement piece for your business!
If you're interested in seeing how an event could benefit your business send me a DM on social @thevirtualeffect or e-mail me at Jocelyn@thevirtualeffect.com