Digital/social media as an audience marketing tool to promote corporate events

Digital/Social Media as an Audience Marketing Tool to Promote Corporate Events by Corie Rand Dr. Tyra Hilliard, Ph.D., J.D., CMP, Committee Chair Part-time Graduate Faculty University of Nevada, Las Vegas Master of Hospitality Administration The purpose of this professional paper, a case study, is to determine the benefits of using digital/social media as an additional audience-marketing tool in promoting and increasing registration for business-to-business (B2B) corporate in-person events. This case study researches the state of the B2B publishing/media industry, and the media company, Reed Business Information (RBI) is the focus of this study. This paper will address RBI's business need to invest in additional revenue streams, and the potential of applying researched marketing tools that could help to promote and drive registration for events. The impact of applying digital/social media, as a marketing tool, on an October, 2009 RBI event is analyzed over a 4-week period, prior to the event, to determine whether the integration of these marketing tools will increase awareness and registration. The findings from this case study will show that the use of digital/social media can increase registration, but will also reveal that these marketing tools are not being used to their full capacity. A proposal will be executed for future integration and use of digital/social media for events. Digital/social Media iv TABLE OF FIGURES Figure 1. Event marketing is now being included more often with other marketing. . 13 Figure 2. The proportion of the marketing budget dedicated to event marketing. ...... 14 Figure 3. BDMs do find industry-specific events an effective tool. 15 Figure 4. Digital/social media is being integrated and used as a viable event marketing tool. 18 Figure 5. The integration of digital media is playing a significant role in the marketing mix. 19 Figure 6. The role of digital marketing is a vital component of event marketing plans . 20 Figure 7. Purchasing magazine’s Twitter site used to update Followers. 22 Figure 8. Purchasing magazine’s search results for “purchasing managers in Chicago”. 23 Figure 9. Result Tweets for the Smart Sourcing Summit 29 Figure 10. Query results Dr. Dobbs Events for Facebook Grader. 30 Figure 11. How marketers’ participate and spend on social technology applications. . 31 Figure 12. The Smart Sourcing Summit’s micro-site 38 Figure 13. Top of page ad placement for the Smart Sourcing Summit on Purchasing . 39 Figure 14. Side of page ad placement for the Smart Sourcing Summit on Purchasing magazine’s website. 40 Figure 15. An example of an online peel-back advertisement similar to what Purchasing ran on their website for the Smart Sourcing Summit. 41 Figure 16. Percentage of ReTweet occurring by adding links to Tweets 43 Figure 17. Purchasing magazine’s Facebook Wall Page. 45 Figure 18. A sample promotional email blast sent out for the Smart Sourcing Summit 47 Figure 19. Purchasing magazine’s sample Splitweet account page. 49 Digital/social Media 5 PART ONE Introduction Social media networks like Twitter and Facebook are no longer just “social” sites that post what was recently eaten for lunch. These days event marketing managers may send a “Tweet” letting followers know there is an early bird reduced conference rate or a keynote speaker has been added to a conference agenda. The popularity of digital/social media outlets like Twitter, a micro-blogging site, is growing, and is being added to the traditional marketing and event marketing mix. It is becoming a beneficial tool with both Business-to-Consumer (B2C), (early adopters), and the Business-to-Business (B2B), (laggards), audiences. As a publisher/media company, Reed Business Information (RBI) is an example of a B2B company trying to integrate digital/social media into its marketing mix, including to market events. RBI has had four vertical market events. RBI has broken even on three of the events and recognized a profit on the fourth. One difference that the fourth event had was the use of online vehicles. Prior to the fourth event, blogs and social networks such as Facebook and Twitter were seldom utilized for events. Registration trends were not closely followed so a true analysis, explaining how attendance increased, cannot be realized. To better understand registration trends for RBI’s vertical market events, a case study will be developed to determine the benefits of using digital/social media for an event taking place in October, 2009. For the purpose of the case study, the event will be monitored for a 4-week period, May 28 to June 28, 2009. A proposal will also be executed to establish a best-practices scenario to increase registration for events. Digital/social Media 6