I have been talking to a lot of tradeshow producers since our November newsletter. It’s nice to see the level of interest in our new EventMingle Community Platform. One key issue that has come up in my discussions is the confusion around social media applications as they apply to the tradeshow industry and how EventMingle Community Platform can work in conjunction with those sites to attract, retain and inform your community of attendees, exhibitors, and speakers year around. I thought I would use this newsletter to share some of my thoughts with you on how to make your event a year around resource using EventMingle and other social networking sites.
Is Facebook, LinkedIn, MySpace and Twitter your best social media strategy?
Many of you are busy creating Facebook fan pages, LinkedIn groups and have set up a Twitter account for people to follow. These are all good and necessary actions if your attendees, exhibitors and speakers are using these social media tools. Each of our tradeshow clients are seeing an uptick of participation on these sites, as it relates to their event, but the numbers aren’t earth shattering. Is it worth your time to have a presence and be active on these social media sites? Absolutely! For a couple of reasons:
1. Each of these sites has thousands of potential participants for your tradeshow. Anything you can do to gain new attendees, exhibitors and speakers in this economy is a must. Approach each of these sites as a source for more attendance at your event.
2. Customer loyalty. You need to go where your customers are. They’re on these sites and will want to see you participate on them.
3. There will be a percentage of people attending your event who will want to network and participate with other people attending your event. So, if someone uses Facebook and they attend your tradeshow, they will have a place to meet other attendees who have found your fan page on Facebook.
While these sites are very good sites for potential attendees to learn more about your conference, they do not go far enough to engage and retain your customer base year around or to provide a platform for members of various regional shows to interact with each other and to provide a single source of information.
How does our EventMingle Community Platform fit in the overall social media strategy?
We created our social media community for tradeshow producers who desire to build a social networking community around their specific brand. By the virtue of their events, they have the ability to create a useful, relevant community of buyers (attendees), sellers (exhibitors) and industry experts (speakers and media) all interested in a specific industry.
If you host multiple events, regardless if their time based (Spring/Fall) or Regional (East/West Coast) or a combination thereof, it even gets more compelling to host a year-round community where people can interact across boundaries. Attendees of the fall show want to be able to network with exhibitors of the spring event. Exhibitors want to be able to get their new product announcements out to your event attendees year-round. By expanding your tradeshow brand to a year-round, industry focused social networking community, you’re actually creating a reason for attendees to attend more of your events and for companies to exhibit more often. Even if an attendee only attends one event in one region, while a supplier might attend a different event in another region, both the attendee and supplier will have access to the full community, thus creating more value for both parties.
Once your EventMingle Community Platform is up and running and participants start participating, the site takes off with user generated content. Some of the content includes:
· Companies add their products, services, press releases, whitepapers and brochures.
· Attendees update their profiles, comment on products, and participate in the message forums and online polls. Attendees can blog about topics of interest to them.
· Speakers will also blog and collect information to update their presentations.
As the user created content begins to get loaded, Google, Yahoo and Bing will begin to index all of the content making your custom social network a rich destination for information seekers. This content will attract new attendees, speakers and exhibitors who should be attending your events. As people meet other community members, your events will give them an opportunity to actually meet in person. Since people and companies can join your EventMingle community through our open enrollment system, you’ll have another way to attract new attendees and exhibitors. Unlike a static web presence, your EventMingle community engages these new participants with other event participants making them a member of your community. The next logical step is for them to attend or exhibit at your event.
As a tradeshow producer you invest a substantial sum to bring together buyers, sellers and experts for your event. Once the event is over, they scatter only to let some re-connect on social media sites like Facebook’s fan pages or LinkedIn groups. Why? Your event becomes a small community, why not extend those to the web where your brand can remain center stage? Your event participants remain engaged between events and you generate revenue between events. You want to use other social networking sites to help attract new exhibitors and attendees, but EventMingle is the perfect site to help retain, educate and exchange ideas year around, keeping your tradeshow in their mind all year long.
How EventMingle generates you additional revenue.
· Vendor Listings – Companies want to reach your buyers year-round. Your community includes attendees who invest in traveling to your events. There is no better qualified list for companies to prospect. Each of your exhibitors receives a free Basic listing on your community that they can upgrade to a Premium listing. Premium listings last a year and give companies these additional features:
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· Company Logo
· Detailed Description
· Staff Directory
· Sales Leads
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· Press Releases Distribution
· Whitepapers
· Product Brochures
· Sales Prospecting
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· Product Directory
· Featured Vendor Placement
· Featured Product Placement
· Searchable Database
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· HTML Email Marketing – EventMingle has several features that makes it ideal for matching buyers with sellers. First, it has its own built-in email management system which means we can allow companies to market directly to members without giving out any private information. Next, members can opt-out to receive information and can also hide their profiles from vendors if they choose. Members can indicate which product categories they’re interested in, so vendor communications can be extremely targeted and relevant to the member’s interests. Since the majority of these members invest time and money to attend events, it is the preferred audience for most vendors and makes it an ideal place for vendors to target their HTML email campaigns.
· Banner Ads – EventMingle supports several banner ad placements on each page. Ads can target specific demographics like current attendees for a specific show or companies who plan to exhibit at a show. Several banner ad packages make it easy and affordable for companies to advertise on your community.
These possible revenue sources easily pay for your investment to get your EventMingle site up and running and will yield a return on investment over and over again. How much money your site can generate depends on your events, industry, and your ability to market your EventMingle community. Let’s look at a sample model that you can adjust based on the size of your tradeshow community:
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Item
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Assumption
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Price
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Total Annual Revenue
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Premium Vendor Upgrades
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750 Exhibitors - 60% Opt-in
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$1000
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$450,000
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HTML Email Marketing
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10 Campaigns per month
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$750
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$90,000
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Banner Ads
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20 annual banner contracts
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$1,200
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$24,000
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In addition to this revenue, your EventMingle community will also add additional attendees and exhibitors for each of your events which will add more revenue not included in this model. Feel free to adjust this model with assumptions you feel more comfortable with, or call me and we can build a custom model together.
Remember, each custom EventMingle community built is managed 100% by us. All the professional services, development, customer support is handled by us. All you do is build a couple internal processes to send us registration and event content. And unlike our competitors, you always own the content, not us. EventMingle Community Platform can provide you with an additional revenue stream and complement your tradeshow all year long by providing value to both the exhibitors and attendees.
If you would like to see our new platform online, check out My.Interop.com. If you would like additional information, please visit our EventMingle Community Platform website.
To learn more and receive a custom quote, please call Jim Harrer at (949) 607-0980 or email me at jharrer@specialtymatch.com