What is Event Marketing and Why is it Important?

For a company like GWC Valves, event marketing is something that is very important for them since it describes the process if developing themed exhibits, presentations or displays to promote a new product launch, a service, a cause or an organization that is leveraging an in-person engagement. Event marketing is important since today’s world, which is buyer-empowered; marketers need to service every opportunity so that they can build new relationships, generate goodwill to others and to earn the trust of prospective customers and buyers. Nowadays, when a buyer or customer is interested in a purchase, they want more than a pitch when evaluating solutions or being able to make their purchase decision and this is another reason why event marketing is of importance today. When it comes to events, these are unique opportunities for businesses to interact with other businesses and consumers in order to be able to interact with different brands and get a sense of who the company is and what their products are all about.

Companies need to be sure that they use event marketing as much as possible and that they use it offline and online meaning online events are just as important as physical events. There is actually a huge impact for companies when it comes to event marketing, it is important that these events are memorable in order to actually make an impact. If the event is well thought through, you as a company has the power to create a lasting and powerful impression of what your company can deliver to consumers or other businesses. The percentage of the marketing budget allocated to events varies through industries. In other areas like PR, MI, AR, marketing support and sales tools along with collateral, it makes up 33.5%, for digital marketing it makes up of 29.2%, for physical and online events 20.5% is allocated to this, traditional advertising it is 9.9% and finally for direct marketing and email it makes up of 6.9% of a companies marketing budget.