••• By Britta Biron
When the economy is weakening and high expenditure is looming around the climate crisis and digitalization, it seems sensible to cut costs elsewhere, such as canceling events and roadshows. In an interview with medianet, Marcus Wild, owner of the agency Ideal Live Marketing, explains why this is counterproductive.
medianet: In terms of work and costs, events are one of the most expensive forms of advertising. What are the arguments in favor of spending money on celebrations, especially in times of economic weakness? Marcus Wild: Of course, in economically challenging times, resources must be used precisely and efficiently, but that is precisely what live marketing can do. We may have the highest CPM in marketing, but at the same time we also have the highest and most lasting impact. After all, events are much more than just a ‘party’. Let’s take employer branding as an example, a central theme of the modern working world. With live marketing activities, you can not only charge the brand or the company with content, but also emotionally bind employees to the company. Live marketing is face to face – the advertising discipline in which the focus is on the person themselves. Celebrations and events increase loyalty, emotion and morale. An event and its quality show employees how important they really are to you. Satisfied employees are more productive and loyal, which in the long term reduces the costs of fluctuation and new hires.
medianet: What are other areas in which events literally pay off?
Wild: Events offer the opportunity to strengthen the brand and improve the company image. This leads to a higher loyalty of existing customers and improves the chances of success in acquiring new customers. Events offer a platform for networking and building relationships, both internally and externally. This can lead to new business opportunities and partnerships, with the organizer remaining positively anchored in the mindset of those involved. In addition, the direct analog interaction between people at an event promotes creativity and innovation. Another point is that digital and hybrid events free live marketing from the corset of those actually present on site and thus keep an important cost driver – the number of guests – well under control.
medianet: Are these effects sustainable?
Wild: Live marketing doesn’t just mean the event itself, but the entire customer journey – from saving the date to the after-show – and also includes the PR and social media coverage generated in the process. Every guest is a multiplier, an ambassador. And that means that even the highest CPM in the industry can sometimes be the lowest. At Ideal Live Marketing, we have planned, implemented and – through calculations – had this confirmed many times over the last 22 years.
medianet: What are the main advantages of live marketing compared to traditional marketing?
Wild: Real-time interaction, such as polls or Q&A sessions, enables direct feedback – so strategies and content can be quickly adapted and optimized … Live events often seem more authentic and personal than pre-recorded content, which builds trust and loyalty. By using social media and other online platforms, live events can reach a wide audience, regardless of geographic restrictions. Live events can also create a sense of exclusivity and urgency and increase interest in a product or topic.
medianet: What live marketing projects are you currently working on in your agency?
Wild: The 20th anniversary of the MediaAwards, whose award show we have been organizing for four years, is the first highlight of the autumn season; then we support RBI at the Marketing Day, organize the CEE Convent for Pontes Legal, organize a congress and gala event for UiH in Hamburg, are already working on a convention in Spain, are running a number of promotions and then the iab.webAd Award Show is just around the corner.
