Growing your business with events - and measuring the impact
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How events can be used to: - build a community - raise awareness - position you as a thought leader - reach a wider audience - earn additional revenue - and how you can measure the impact for each category, justifying the position of events as an integrated part of the marketing mix - not just a ‘Nice to Have’.
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Growing your business with events - and measuring the impact
- 1. Katie McPhee 1 4 August, 2013 GROWING YOUR BUSINESS WITH EVENTS - AND MEASURING THE IMPACT
- 2. Introduction 1 Build community 2 Raise awareness 3 Position you as a thought leader 4 Reach a wider audience 5 Earn additional revenue Conclusion GROWING YOUR BUSINESS WITH EVENTS – AND MEASURING THE IMPACT
- 3. concerts class reunion festival block party hiking politics turkey trot dance training wine tasting theater volunteering marathon poetry live music arts & crafts fashion fun run race fundraiser hiking comedy car rally networking summits parades expeditions dating tea party design
- 5. GROWING YOUR BUSINESS WITH EVENTS: BUILD COMMUNITY
- 6. GROWING YOUR BUSINESS WITH EVENTS: BUILD COMMUNITY
- 7. GROWING YOUR BUSINESS WITH EVENTS: BUILD COMMUNITY
- 8. GROWING YOUR BUSINESS WITH EVENTS: BUILD COMMUNITY Send a follow up via email after the event with photos and more info about your startup Connect with attendees on social media – Facebook, Twitter or LinkedIn MEASURE THE IMPACT >>>
- 9. GROWING YOUR BUSINESS WITH EVENTS: RAISE AWARENESS
- 10. GROWING YOUR BUSINESS WITH EVENTS: RAISE AWARENESS
- 11. GROWING YOUR BUSINESS WITH EVENTS: RAISE AWARENESS One attendee: 262 friends* Potential reach: 68,600 friends
- 12. GROWING YOUR BUSINESS WITH EVENTS: RAISE AWARENESS 1 ticket sale 5.7 4.6 7.3
- 13. GROWING YOUR BUSINESS WITH EVENTS: RAISE AWARNESS Create hashtag and track it Track event promotion to make smarter marketing investments See which activities are driving traffic to your event page Create links to track your event campaigns and affiliates MEASURE THE IMPACT >>>
- 14. GROWING YOUR BUSINESS WITH EVENTS: THOUGHT LEADERSHIP
- 15. GROWING YOUR BUSINESS WITH EVENTS: THOUGHT LEADERSHIP
- 16. GROWING YOUR BUSINESS WITH EVENTS: THOUGHT LEADERSHIP Uplift in trade press coverage and speaking opportunities Increases possibilities for relevant industry partnerships Long term investment in your brand MEASURE THE IMPACT >>>
- 17. GROWING YOUR BUSINESS WITH EVENTS: REACH A WIDER AUDIENCE
- 18. GROWING YOUR BUSINESS WITH EVENTS: REACH A WIDER AUDIENCE
- 19. GROWING YOUR BUSINESS WITH EVENTS: REACH A WIDER AUDIENCE MEASURE THE IMPACT >>> Establish clear aims about the audience you’re trying to reach Involve partners and attendees relevant to the audience you’re trying to reach
- 20. GROWING YOUR BUSINESS WITH EVENTS: EARN ADDITIONAL REVENUE
- 21. GROWING YOUR BUSINESS WITH EVENTS: EARN ADDITIONAL REVENUE
- 22. GROWING YOUR BUSINESS WITH EVENTS: EARN ADDITIONAL REVENUE Free events see 50% drop out rate vs 5% for paid events Charging for tickets minimises marketing spend but requires greater investment in time to promote FREE VS PAID
- 23. GROWING YOUR BUSINESS WITH EVENTS: EARN ADDITIONAL REVENUE MEASURE THE IMPACT >>> Selling out and seeing a good financial return on investment Paid events require heavier promotion. If you’ve got the network & the content – don’t be afraid to charge!
- 24. Conclusion 1. Events are a fantastic way of building your community. Remember to stay in touch! 2. Make the most of the opportunity to raise awareness. Events are a great PR opportunity 3. Position your business as a thought leader by holding a class or seminar. 4. Use events as a mean to connect with your desired audience – be that investors, advertisers or clients 5. Your insights are valuable – don’t be afraid to charge for tickets
- 25. thank you Katie McPhee @ktmcphee 1 August, 2013
Notas del editor
- I’ll be specifically talking about how events can be used to:build a community ;raise awareness ; - Position you as a thought leader -- Reach a wider audience (investors, other startups )- earn additional revenue So I’d like to share these examples with you - breaking it down by category – and for each one I’ll also look at measuring the impact – justifying the position of events as an integrated part of the marketing mix - not just a ‘Nice to Have’.
- A little bit about Eventbrite – And we’re a website that allows anyone to create, promote and sell tickets for any kind of event – as well as discover events going on close by.Eventbrite was founded in 2006 in San Francisco by Kevin & Julia Hartz.At that time, only stadiums, festivals and concerts were ticketed events –there was no solution to help the smaller events promote themselves and sell tickets online – so Eventbrite was created to enable small businesses to do just that – and today you’ll find everything from dance – to arts and crafts – seminars – fashion – and networking events on our website – as well as the large scale events you’d expect to find on a regular ticketing
- Myself – My name is Katie McPhee - I was the first feet on the ground for Eventbrite in Europe in 2011 and I lead our community activities here.That means organising lots of events – managing our social media networks– sourcing partnerships – amongst other things. But like any startup everyone wears lots of hats and gets involved in activities across the board when we need to.
- When you launch your business - depending on what you did previously, you may be building your community from the ground up. Events, along with social media, help this happen. Most events come under the category of community building - but parties, meetups or launches are commonexamples.
- 6. Mind Candy – a succesful London based tech startup most of you will know - opened the doors to their new office in Feb - complete with a slide connecting two offices - they threw a party to show the tech community their new digs – put on some beers – and share their success with their tech peers
- 7. And these are pictures from EXEE – an event I ran with Soundcloud for the last 2 years. Eventbrite does not yet have a significant community amongst the music industry – so I set up this event with music tech partners as a way of celebrating music and tech in London while our peers party at SXSW in Austin. This year was a brilliant success – you can see the founders of Songkick and Mixcloud were amongs the panel at the event, curated by Drowned in Sound, a popular music blog – it was free to attend- 200 came along; we provided live music and beers – and it’s been a brilliant and fun way to build acommunity amongst a crowd we didn’t know so well before
- 8. Measuring the impact - Social platforms - and email - make staying in touch after an event simple. Connecting via email / LinkedIn / Twitter / Facebook – means its easy to stay in touch with attendees & you can updat them in when your startup has product news to share
- Events are a helpful way to raise brand awareness and get PR for your startup– especially if you pull out the stops when promoting the event and provide great content. Whether people attend or not they’ll get to hear about your startup and what you’re upto.
- 10. Mobile Roadie – are/ a mobile app creator, most used by music and sports brands around the world. Because it’s a white labelled solution, the brand isn’t visible to end users. So they launched a series of conference events around Sports, Music & Tech which have had a decent amount of PR – and extended brand awareness across the tech scene as well as their target industries
- 11. And of course if your primary objective is to raise awareness for your startup through an event – you need to make sure as many people as possible know about it. As this picture shows – the promotion for your event starts with you and your network. If you’re a typical Facebook user – you have at least 262 friends. And they will have 262friends. So if you share with your friends – and encourage them to share with their network - that’s a total potential reach of over 68k. So we all know that you only see on Facebook a percentage of your friends’ activity – but this gives an idea of the the power of digital word of mouth – and the value of social media as a starting point for raising awareness for your event – and ultimately your startup
- 12. Segmenting that out across the networks – at Eventbrite we’ve done some research which you can see here – that shows on average how many shares across the networks result in 1 ticket sale. Suddenly selling out a 100 person event doesn’t seem so daunting - 5.7 Facebook on average results in one ticket sale – so if 570 people share your event – theoretically you’ve just sold out your event.
- 13. How to measure the impact when seeking to raise awareness? - Firstly, measure social media reach. Using a hashtag to measure how many people are talking about the event. Apps like Tweet reach show how many impressions were created on the hashtag and is great for tracking how far the conversation spread after the event. And you can use this for any campaign, event related or not.- Secondly – on Eventbrite we provide tools to track all your event promotional activity. So you can see where event page views and ticket sales are coming from. - You can also create tracking links for each affiliate that demonstrate how many page views and ticket sales they bring to your event. - The Eventbrite analytics might be specific to your event – but remember everyone who sees your event, whether attending or not, also see your business – meaning event promotion has the dual benefit of raising awareness for your business
- 14. Industry thought leaderYou’ve build your startup from scratch – the chances are you know more than most about your chosen business area. The likelihood is that many more people would benefit from what you have learnt along the way. Workshops, seminars or even a conference is a great way to show industry who you are and what you know, and position your brand as a thought leader.
- 14. Moo.com – the business originally from London that is disrupting the printing industry globally. Their natural community are the ever growing numbers of small businesses and startups that want high quality, bespoke and cost effective printed goods.- They recently set up a pop-up shop in a popular area in East London - hosted a variety of events about entrepreneurialism - skills for small businesses etc. As they’re aimed at this market it was a great way of positioning the brand.
- 17. Measuring the impact. Less a quick fix and more a long term investment to positioning the brand in the right way to ensure future success
- 18. You’re doing well, seeing great traction and steady growth – but your natural community and product audience don’t include those hard to reach investors / advertisers / brands. Creating an event around a topic that target audience will want to attend is a good way to bring visibility to your startup and connect with those companies or individuals
- 19. Mixcloud – a music tech startup you’re possibly familiar with? You could have expected them to put on an event around music and tech – but, as an advertising funded startup - their motive was to get visibility with brands – the kind of brands that would ultimately advertise with them.So they put together this event – Conversations on Music, Branding & Content.Brilliant speakers – including legend DJs and record label founders – which ensured great content for brands wanting to appeal to the kind of cool audience that Mixcloud attracts. They leveraged their network and partners to make sure the right audience of brands and labels was in the room.I thought this was a really clever approach and one which other startups can emulate depending on your industry
- 21. Establishing clear aims before the event as to who you want to speak to - be it that investor, an advertiser or a client - is helpful in the planning stage, so you can select the partners and attendees who will help make that a reality.- Go to your community and network and ask for introductions so you can personally invite those people you’ve selected – this is sure to improve the chance of them saying YES to your invitation
- What does your startup do that no one else does - and could this be valuable to help other startups grow? if so - you’re in a great position to make additional revenue from events.
- 23. A great recent example I saw in London was by Geckoboard is a London based startup that provides a dashboard for KPIs and data. - Everyone in the startup world loves Lean methodology right?- So Geckoboard did a Lean Analytics Workshop about using data to build a better startup, faster. - The event sold out – and at £120 a ticket, for 100 tickets, covered their costs and was certainly a profitable exercise.Where your startup has insights valuable to other startups – you’re in a great position to charge for an event.
- 24. That said – it’s worth thinking about the pros and cons of charging or not to charge. If you want your event to be free – you’ll attract more sign ups – but a higher drop out rate. It’s usual to see 50% of attendees drop out for free events.You can do things to minimise this – regular reminders and requests to cancel the ticket if they can no longer attend – but nonetheless it makes it harder to estimate your audience sizeFor paid events – drop out rate much smaller – 5% or less
- 25. Measuring the impact - selling out and seeing a good financial return on your investment of time will be a great result. It usually takes time and lots of promotion to sell out paid for events but if the content is great it’s feasible