Importance of Event Management from a Business Perspective

Home - Blog - Importance of Event Management from a Business Perspective
It’s a pretty well-known fact that up-selling/cross-selling to an existing customer is often much cheaper than acquiring a new customer (some studies note that it costs approximately 5 times more to acquire new customers). Instead, driving customer-centric programmes and gaining loyal repeat customers is a much easier and cost-effective way of continuing and growing businesses.

The trick is to ensure your consumers have a stellar customer experience so when they think of a particular product or service, they only consider your brand.

While the world is going digital and people are most interested in their mobiles, physical events also play a big role in ensuring your customer appreciates your brand and becomes a lifelong customer.

Disconnecting from the digital world and giving your customers a tangible brand experience has proven to make customers more inclined to purchase, improved the overall perception of the brand and brands have even testified to receiving a direct sales boost from the activity, if well organized.

Building a personal connect with a customer, showcasing your key values and mission as well as providing a unique experience has helped build customer lifetime value among several top multinational companies today (some of the experiential marketing activities for Coca Cola and Volkswagen that reach out to a large audience are unforgettable in the Indian marketing context).

Event management agencies and event planners are key to providing this unique experience that captures audience attention and brings a new customer-centric approach to brand experiences. With the right use of technology and communication, a brand can connect to localized audiences in a manner they are familiar with.

In addition, in today’s tech driven world, these experiences are often captured during the event and then showcased online on websites and social media pages to create a sense of FOMO (Fear Of Missing Out) that drives further participation for upcoming events.

The benefit of having an event management agency on-board is that they usually provide a thematic customer journey which exemplifies your brand messaging at every customer touchpoint. Looking at a uniform communication which is reiterated through creative visuals and catchy taglines help cement the core message in the mind of the customers.

As the impact spreads beyond customer experience, revenue, brand image and social media to create a sense of belonging and even more aspects, it is quintessential for companies to include an exclusive event plan designed to reach out to your brand’s target audience, even in the age of digitalization.