Data, Technology, Personalization Top Event Marketing Trends

Because AccuList helps trade show and conference marketing clients with market-tested direct mail, e-mail and telemarketing lists and services, we naturally watch trends in event marketing closely. Overall, the good news is that, even in a digital world, live events and face-to-face experiences retain their power, with over 40% of marketers saying live events are their most important marketing channel. Plus, event marketers have more tools (and challenges) as they move into 2020.

New Technology Tools Build Buzz and Engagement

A post by marketing guru Michael Brenner for Marketing Insider Group cites a number of technology trends that event marketers can use to boost attendance, engagement and ROI. For example, Artificial Intelligence (AI) can improve efficiency at all stages of event planning and marketing, from ticketing and sales to personalized promotions and automated event follow-up, while augmented reality (AR) and virtual reality (VR) can provide more immersive and engaging experiences to event-goers, for example by demonstrating a product (such as a luxury apartment) that is difficult to do at scale or by engaging attendees like the Coca Cola-hosted VR that let participants be a football player in the World Cup. Interactive video is also being increasingly used to build buzz on social media before events and to increase personalized interaction at events.

Up-to-date, Quality Data Literally Drive the Show

Marketing technology now provides access to real-time event data that can enable marketers to evaluate everything from attendance numbers and attendee satisfaction to which talks and topics are the most popular. Long-term, accurate information about registrations, ticket sales, and attendee demographics can help create effective audience-building and exhibitor sales campaigns. Indeed, many marketers find their biggest problem is being overwhelmed by a flood of data, ranging from audience attraction (website visits, social media clicks, registrations);  on-site engagement (RFID metrics, mobile app engagement); post-show follow-up (attendee opinions, costs, ROI); and auxiliary data (CRM, membership data, attendee interests). The key to prioritizing and analyzing, notes event marketing and tech agency Freeman, is to 1) centralize, standardize and integrate data; 2) decide on goals (such as attendee satisfaction, exhibitor ROI, or reduced attendee and exhibitor churn); and 3) define the metrics that best measure achieving those goals. Remember you only manage what you measure, so a focus on growing an overall attendance number can miss the more important goal of getting the right people to attend. Based on analysis of attendance or exhibitor patterns in the data, marketers can then segment data lists in direct marketing for better targeted response and ROI.

Using Data for Personalization Now Seen as Key

For all marketing channels, digital and off-line, personalization is the new requirement. As Brenner’s post notes, because they believe it’s so effective at increasing event marketing ROI, 9 in 10 event planners use some form of personalization. His article includes a useful infographic from a 2017 Eventsforce study on the ROI of personalization which shows that not only do 73% of event planners believe that personalization and data-driven marketing are a priority but 89% personalize event invitations via names, content and links; 71% personalize event communications via e-mail content and landing pages; and 58% personalize registration via different forms for different audiences. Other areas of personalization include event site experiences and give-aways; push notifications and concierge services on apps and mobile; agenda scheduling and networking; and personalized survey questions. As far as collecting the data needed for personalization, the most effective tools are rated as registration systems (84%), CRM/marketing systems (62%), surveys (29%) and event apps (29%). Lower-rated options include social media, interactive screens and kiosks, and interactive technology such as RFID badges. For more, see Brenner’s article.

Ticketing and Giving Trends Are Positives for Performing Arts

Heading into 2020, AccuList’s performing arts marketing clients can take advantage of positive trends in both fundraising and ticketing sales according to recent studies.

Performing Arts Giving Holds Steady 

While the Giving USA 2019 report released in June showed declines for many charitable giving sectors from 2016 to 2018, arts fundraising stood out by remaining relatively flat. Adjusted for inflation, giving to arts, culture, and humanities increased 11.1% between 2016 and 2017, declined 2.1% between 2017 and 2018 (though a 0.3% increase in current dollars) and ended up with a cumulative increase of 8.7% between 2016 and 2018, thanks to 2017 donations that reached the highest inflation-adjusted amount for the sector on record. Underneath the numbers are three important lessons for our performing arts clients, as fundraising counsel Alexander Haas points out in a recent post. First, a focus on high net-worth individuals via upper-level membership programs, project-related major gifts, and targeted marketing campaigns is likely to pay off, as proven by 2018’s 2.6% increase in gifts of $1,000 or more, and the fact that, of the 90% of high-net worth households giving, a quarter focused on arts donations. Second, targeted campaigns and quality donor lists are essential as fewer individuals give and a greater percentage of philanthropic revenue comes through larger gifts. Finally, online giving can be a boon to performing arts; for example, the Blackbaud Institute’s 2018 Charitable Giving Report showed that online gifts represented 9.5% of overall giving to arts organizations in 2018, and the 5.8% growth in online giving to the arts outpaced other nonprofit sectors by four times. Making online giving a convenient option for donors and members is one way to offset the decline in smaller gifts.

Marketing Innovations Help Ticketing Upward Trend

An October Reportlinker market research report forecasts a 5% compound annual growth in ticket sales from sporting events, movies, concerts, and performing arts events in the 2020-2024 period. While sporting events and concerts popularity is a key driver of growth, the research also credits a number of innovative marketing strategies for pushing ticket revenue, such as flash sales, early-bird offers, access codes, public discounts and adoption of mobile applications to make tickets more readily available to consumers. The integration of analytics with online ticket platforms–to automate services, to enhance more efficient back-end operations, and to better track and monitor consumer preferences–is also seen by researchers as a positive for ticket sales growth. Meanwhile, the secondary ticket market, especially in sports, is projected to have an even higher 9% compound annual growth rate in the same period despite a rise in fraudulent activities and artist opposition. A positive on this front is the adoption of blockchain to keep track of buyers and sellers in the secondary ticket market, helping to prevent fraud by scalpers, bots and touts.

For more detail on performing arts giving trends see the Alexander Haas post.

 

The Right Business Model Helps Magazines Harness Industry Trends

AccuList’s business periodical clients will face challenges and opportunities in the fast-moving currents of publishing in 2020. The good news for printed magazines: Print is not only viable but thriving in many cases, with 64% of printing industry members telling Quocirca’s Global Print 2025 study that print will remain important well into 2025. At the same time, surveys show that digital subscriptions, advertising and content are increasingly necessary drivers of the bottom line.

Publishers Invest More in Digital and Content Marketing

In fact, worldwide news publishers surveyed now say digital publishing subscriptions are their top revenue stream. Given mobile and social audience trends, publishers also say they are increasing efforts to recreate quick-loading content for any device and are using more digital content, including videos and podcasts, to drive audience development–and that includes distribution via social media networks. At the start of the year, a What’s New in Publishing post by magazine consultant Mary Hogarth suggested that the best way to navigate the challenges of digital expansion, content innovation and multi-channel audience-building is to develop a solid business model. Periodicals need a model that will  keep cash flow strong to fund reinvention, she notes, citing cash drivers such as subscription sales, pre-paid ads and advertising space series, timely payment systems and expenditure discipline. However, it’s even more important for a magazine model to focus on expanding revenue streams across print and digital channels. 

A Smart Business Model Will Expand Revenue Streams

Of course, these revenue growth efforts are where AccuList’s targeted lists and direct marketing services can be of greatest use in adding subscribers, advertisers, members or event attendees. Among Hogarth’s suggestions for boosting revenue streams:

  • Brand extensions, such as digital editions, sister publications, books, events, conferences, courses and festivals;
  • Advertising sales strategy innovations, for example selling online plus print advertising as one package;
  • Expanding sponsorships/promotions and services by facilitating strategic partnerships or third-party sponsorship of in-house events, plus selling design and content packaging services;
  • Increased copy sales via digital/print magazines on newsstands, subscription growth, in-house back issue sales, and direct sales to partners/advertisers if appropriate;
  • Memberships schemes that can help cash-flow and likely increase audience reach and reader loyalty;
  • Online content/paywalls, such as using a micro-payment system to sell additional content;
  • Product licensing, such as selling the rights to content to be re-purposed in an existing title, or licensing the brand in terms of merchandising.

See the complete article on magazine business models for more detail.

 

Positive Industry Trends Buoy Museum Marketing

AccuList’s museum marketing clients can take heart from a number of trends that are boosting museum appeal to visitors and donors, according to a recent report on the museum industry from ticketing solutions provider Acme Technologies.   

Demographics, Political Angst, Tech Innovations Boost Museum Interest

Demographics favor museum marketers, the report notes. The baby-boomer generation, the most populous generation still living today, is made up of the most loyal frequenters of museums and galleries among generations, while data shows the tech-savvy millennial generation, which demands stimulation and interactivity, is being wooed by modern museums’ innovative tech and design. Museum appeals are even benefiting from our contentious politics today as conflicting media, heated partisanship, and rapid social change drive the public to seek out museums as safeguards of knowledge, culture, and history. Finally, technology trends are transforming museums from halls of dusty relics to efficient institutions using novel and interactive solutions to improve visitor experiences, with digital systems integration, VR, and greater disabled accessibility for example.

New Tactics Help Museum Marketers Leverage Trends

The Acme report notes a number of tactics that will help museum marketers leverage the demographic, cultural and technological trends in their favor. For one, galleries, zoos and other foundations can integrate traditional displays with innovative tools that allow audiences to experience collections in new ways. For example, the Netherlands’ Van Gogh Museum in Amsterdam is using Virtual Reality to provide a unique view of the famous painter’s works, while the Cleveland Museum offers a digital map that visitors can access via their smartphones to navigate exhibits. Social media is another boon for savvy marketers. Instagrammable selfies are becoming intentional features in museum tours as an attractive souvenir that visitors create themselves. An example is the San Francisco Museum of Modern Art’s “Snap + Share” show about social media, photography, and “selfie culture” influence on art. One interactive hit is an artwork that encourages visitors to snap a selfie with their head in a freezer, and tag the museum in the resulting Instagram post. Finally, museum and zoo marketers are increasing reliance on data-driven decisions. Data analytics offer insight into museum-goer trends for strategies that widen audiences and increase donations. The report cites the example of The Reina Sofia Museum in Madrid, Spain, which hired data analytics provider Synergic Partners to analyze tourist visitation trends for a special Picasso exhibit. Information gathered showed the most common nationalities of visitors, and allowed the museum to better cater to their needs and expectations. For more marketing trends and examples, see the full museum industry trend report.

Social Media Isn’t Just for B2C; the Right Tactics Build B2B Leads

Some business-to-business marketers shrug off social media as a consumer branding and sales channel, sticking to company page branding and PR announcements on social platforms. They are missing a lead source, argues Tessa Berg, vice president of B2B agency Tenlo, in a recent MarketingProfs post. She urges B2B promoters to consider the many ways they can use social platforms to generate leads, and AccuList certainly supports these tactics via its own LInkedIn and Facebook/Instagram marketing programs.

Where to Go on Social Media? Where the Customers Are!

In deciding investment in social outreach to snag leads, start by profiling your target customers and where they gather on social platforms. Here’s a hint: 80% of B2B leads come from LinkedIn, compared with 13% from Twitter. That doesn’t mean B2B marketers should exclusively use LinkedIn. For example, Twitter allows for more direct interaction with prospects. And with the proven effectiveness of video marketing, why not leverage platforms like YouTube and Instagram to stimulate interest via product or branding videos?

Supplement Organic Reach With Paid Ads

Social platforms want to monetize their audiences so the reach of organic social activity has been increasingly subordinated to paid advertising. At the same time, many social platforms have improved targeting options for paid advertising. So it makes sense to pair organic actions with highly targeted paid social ads. Social tracking data will uncover important insights into which content and messaging on which social channels generate the best engagement and site traffic. Clear calls-to-action driving to owned content (website or landing page) will help capture leads better than a generic “Contact Us.” Offers of engaging content, say a video on product installation or an infographic addressing a key issue such as sustainability, also help gather lead contact data, Berg adds. Don’t get stuck in a rut with success, however; Berg prompts marketers to vary the types of ads and the content of ads deployed to avoid losing audience interest over time in the fast-moving social world.

Answer Questions and Leverage Presentations to Make Connections

One of the easiest, most effective ways to create relationships with prospective customers is to address the questions they pose on relevant platforms such as LinkedIn, Quora, and Reddit, Berg notes. Empower social and technical teams to answer in a timely and effective way to position your company as an expert and build audience connection. As a bonus, you will likely boost SEO and keyword rankings at the same time. Also, most B2B organizations already create presentations on industry trends, product updates, and case studies, and this content is prime for boosting engagement, social sharing and viral reach, especially on platforms that are dedicated to presentations, such as LinkedIn SlideShare.

Make Social Engagement a Team Effort

Get company team members involved in a social strategy, urges Berg. After all, people work with people, and a display of your company’s talent and team culture can validate a partnering or purchase decision. Define a theme, outline appropriate content, explain the dos and don’ts of hashtags, make sure to run messaging by legal advisors, and then start with a test of “safe” content, adjusting policies if necessary, she advises. See https://www.marketingprofs.com/articles/2019/41608/seven-ways-b2bs-can-use-social-media-to-boost-conversion-rates-and-generate-leads?adref=nlt080619

Digital Data Feed Publishers’ Subscription Growth

AccuList helps business periodicals grow audience via direct marketing, and, as always, good customer and prospect data is at the root of marketing success. Consider a case study from The Economist, named one of the eight best business magazines of 2019 by The Balance reviewers. It isn’t only content that makes The Economist stand out. It’s a data-based audience-building strategy that has quadrupled subscription revenue over the last three years.

Customer Data and Predictive Analytics

Facing challenges in growing subscriber and advertising revenue, The Economist contracted with a customer data platform, Lytics, to shift from a print-focused to a digital subscription strategy based on customer data management, per a recent What’s New in Publishing (WNIP) post. For example, the publisher used data analytics to create content hubs, or individual pages that display digital content based on a reader’s interest for particular news topics. Tactics also included displaying offers based on the reader’s subscription status and predictive engagement score, meaning their likelihood to subscribe, derived from other readers with behaviors like theirs. And the online Economist gave readers featured content based not just on topic interest but also on behavioral scoring so readers got the type of content they wanted in the way they wanted to read it. Yet another example was a campaign for a free “Back to School Megatech” eBook, that produced a 9% click-through rate for targeted audiences.

Payoffs in Acquisition and Retention

In addition to a 4X bump in The Economist‘s subscriber revenue, the data-centric effort decreased cost per acquisition by 80%, tripled digital subscriptions, and increased time-on-site and engagement measures, per the WNIP case study post. The development of ongoing and adaptive customer profiles using machine learning went beyond simple demographics to allow for individually tailored and timed advertising and engagement strategies, such as predicting when a reader is more receptive to certain kinds of advertising or content. Retention strategies also were improved by predicting when subscribers were likely to stop visiting or subscribing.

Leveraging Data and Content for Growth

The Economist is not alone in embracing a digital subscription and data-management publishing model. The New York Times used similar strategies to boost digital subscriptions and revenues last year, even creating nytDEMO (DEMO stands for data, engineering, measurement, and optimization) as a collaboration among members of The Times data, product & design, technology, and advertising groups. The nytDEMO team offers brand marketers AI-based data tools such as “Project Feels” predicting emotional response to content and “Readerscope” identifying reader/interest audience segments. While other print and digital news operations were cutting back in 2018, The New York Times Co. used data-driven strategies to generate more than $709 million in digital revenue, with online subscription revenue up nearly 18% from 2017 and digital advertising up 8.6%. Out of its 4.3 million paid subscriptions for digital and print in 2018, more than 3.3 million people paid for its digital products, a 27% jump from 2017. Those results prompted executives to set a new target of more than 10 million subscriptions by 2025. And since NYT execs believe successful data marketing relies on quality content marketing, the revenue gains will be plowed back into content development via increased investment in newsroom and opinion operations.

 

E-mail, Social Lead Nonprofit Event Marketing

AccuList’s direct marketing services support both event marketers and nonprofit marketers, and, of course, there’s an overlap since many nonprofits use events for fundraising. So we try to keep up with what works in not-for-profit show business, and a recent survey of 500 nonprofits by Eventbrite, a leading event management and ticketing services provider, offers some interesting benchmarks.

No One-Size-Fits-All for Nonprofit Events

The “2019 Eventbrite Pulse Report” found that since nonprofits have multiple purposes, they host multiple event formats besides those geared exclusively to fundraising; in fact, just 32% reported hosting galas and fundraisers aimed at tapping donors. Instead, events for cause, community and educational promotion were cited by 78%, networking events by 37%, training and workshops by 33%, food and drink events by 31%, and arts and entertainment events at the tail end with 22%. Of course, revenue production was still seen as a key to success regardless of event goal.

Ticket Sales Swing Between Big and Bust

And when it comes to event revenue, ticket sales, sponsorships and grants/donations were the top sources reported. However, while ticket sales were seen as a key revenue driver by most (75%), the portion of revenue delivered by ticketing varied widely—from 80%-100% of event revenue for just 15% to less than 20% of revenue for a larger quarter of those surveyed. This underscores the need for both diverse revenue sources and more effective marketing to deliver attendance.

E-mail and Social Media Lead Marketing Efforts

Nonprofit event organizers told Eventbrite that their most effective marketing tactics were e-mail (34%); word-of-mouth and referrals (24%); and social media marketing (22%). In the social media arena, nonprofits relied most on organic posts (23%), paid Facebook ads, and video (9%). Among the tactics deemed less effective in the survey were third-party listings, search engine optimization (SEO), and display ads.

Audience Building Is a Top 2019 Challenge

The perennial “insufficient budget” was seen as a 2019 issue by 45% of nonprofit event planners and securing sponsorships as a problem by 46%, but the top 2019 challenge, cited by 73%, was reaching new attendees. And that is the kind of targeted marketing issue that AccuList can help address! For more benchmark data, see the post on the Eventbrite report.

Scarcity, Targeting, Value Woo Performing Arts Audiences

Performing arts marketers face many challenges in competing for attention and share of wallet in a noisy multi-channel marketplace. AccuList USA recently found some good basic advice on winning audience response in a blog post by Dave Wakeman of the Wakeman Consulting Group. .

Create a Feeling of Demand and Scarcity

Wakeman noted that creating a sense of scarcity is key to performing arts marketing–even lacking a hot-demand show like the current musical “Hamilton.” Nothing attracts a crowd like a crowd! Offering all tickets prior to marketing-generated demand undermines that desired sense of urgency, but marketers can still use the secondary ticket market, such as StubHub or TicketsNow, to produce a feeling of scarcity, he advises.

Define the Target Audience and Value Message

Performing arts marketers need to define the audience target of a show/event and then tailor a value message that appeals specifically to that audience. Targeting and creative messaging will be very different for a family show, a political commentary, a well-known classic, or a one-off by a famous author. New attendees will need a different approach than members and donors. Certainly, many shows don’t have the time for the sort of traditional agency advertising that waits for reviews to come out and then creates ads around positive lines from those reviews. Plus, that kind of reactive, critic-centered promotion can miss a more persuasive value message to win over the target audience.

Create Multiple Forms of Value

Wakeman notes that in today’s market, people often aren’t just going to “see a show.” They are likely looking to make a night of it and are attracted to events with multiple value offers. He lauds the successful audience-building efforts of the Chattanooga Symphony & Orchestra, which promotes multiple ways to engage even for those without a dedication to the symphony. Pairing a wine tasting, art show or discussion group/lecture with a performing arts event may be just what it takes to attract a new audience or convince an existing audience to try a new entertainment option. “If we don’t make it easy for people to see themselves in our seats, we are missing out,” he argues.

 

 

 

Many Business Publications Fail to Fully Mine Audience Data

Business periodical marketers come to AccuList USA for help with audience building via multi-channel campaigns. But as data experts, we’d like to remind them that their audience data offers other revenue streams worth mining. Most publishers know that targeted audience data is key to competing for ad dollars; for improved subscriber response via personalization; and for better targeted content marketing, but a recent Adweek article by Jason Downie suggests several other ways to monetize audience data.

Building Valuable Off-the-Shelf Audience Segments

Downie urges publishers to build “off-the-shelf” audience segments that can be sold directly to advertisers, for example. Consider how a seminar promoter could use a business magazine’s data if the publication built an audience of people interested specifically in his topics or proven seminar buyers; the advertiser would be able to enjoy the benefits of tapping not just a business-engaged audience but a strategically targeted set of potential buyers more likely to convert. By creating off-the-shelf audience segments, the publication offers more options for ad clients and more targeted impressions from high-value users. Audience segments can also offer insights that can be further monetized. For example, analytics could show that seminar attendees are four times more likely to share content online. That makes them online influencers, and since influencers are extremely valuable, the publisher can demand a higher CPM. Additionally, an audience segment can open the door to new advertisers and marketers, including non-endemic spending. A business publisher’s analytics may show a subscriber segment visits golf sites as well as the magazine site, for example. The publisher can now woo clients looking to target “golfers.”

Using Data to Win RFPs

Another way publishers can take advantage of data is in the RFP process, according to the Adweek article, noting that the average publisher spends up to 1,600 hours per month, or 18% of revenue, responding to advertiser RFPs. Publishers can develop a customized response to an advertiser RFP, starting with first-party data to build out the RFP-requested audience and then enriching that database with third-party data appending. Digital campaigns can expand targeting by adding lookalikes. Author Downie advises running a portion of an ad campaign without audience or contextual targeting to identify additional audiences, interests, actions and behaviors of those who respond well to the campaign but were not included in the initial targeting.

Turning Data Into New Revenue Streams

Another option for publishers with high-quality audience data is to sell it as “second-party data.”  The data can be sold either directly to another company through a second-party data exchange or through a programmatic data exchange. Second-party exchanges are popular because they are private marketplaces one-to-one with another company, versus an open environment. And, of course, subscriber lists can be monetized as “third-party data,” earning regular rental revenue on the open market and via data brokers. For more detail, see the full article.

Use Direct Mail to Push Trade Show Attendance Ahead of the Pack

After many years of supporting the marketing of trade show and conference managers and exhibitors, AccuList USA can attest to the continued power of direct mail in building audience. While exhibitors who do a pre-show campaign 1-2 months before a show can increase attendance by up to 50%, according to the Center for Exhibition Industry Research, a post by the NextPage agency recently explained how direct mail will push those pre-event promotional efforts several steps ahead of competitors.

Make Direct Mail an Engaging, Personalized Invitation

Show marketers looking for an edge with multi-channel audiences will embrace direct mail’s higher response rates and retention rates, urges NextPage, leveraging the deliverability of a tactile and visual attention-getter in an era of crowded digital mailboxes and websites. By combining variable printing with segmented list targeting, savvy marketers can create a pre-event mailing that is highly personalized. Custom shapes and dimensional options, textured paper, intriguing folds, eye-catching graphics and taglines, and more will then help mailings stand out and engage.

Include Incentives That Spur Booth Visits

NextPage also advises including an incentive in the mailer to spur booth visits, such as a raffle ticket or product sample. Creativity pays off, and the blog cites some incentive success stories. For example, trade show expert Marlys Arnold uses scavenger hunts in pre-show campaigns, with a direct mail piece that lists five questions and gives a web address where attendees can print off an answer sheet to fill out and bring to the show. She reports earning satisfying lines at her booths compared with more passive giveaways. In another example, independent copywriter named Mark Johnson wanted to target subscription newsletter marketers at a Las Vegas Conference and created a special website with case studies and a free offer that he touted in a postcard. The free offer was an exclusive 30-minute consultation with Johnson to review current marketing campaigns. Johnson rented the conference association’s membership list and mailed the card only to qualified leads five weeks before the show. Out of 400 pieces mailed, 406 people visited his site, and he generated five solid leads!

Use Targeted Lists of Qualified Prospects

Yet the real key to success with a direct mail campaign is targeting of qualified leads, starting with a list of current clients and prospects and moving on to lists of registered attendees, association members, subscribers to relevant trade publications and newsletters, multi-channel buyers of relevant products, etc.  Marketers can then segment and tailor messaging by geography, industry, product interest, title, firm-ographic data (such as number of employees) to increase response.

For more direct mail advice, see the blog post.