By all counts (with the exception the Chicago Tribune), the recent Elton John / Billy Joel concert in Chicago was a huge success.  It was a sellout at Wrigley Field, the “boomer” place to be and the crowd left satisfied, yet wanting more.  It was everything you would hope your next marketing event could be– great program, great audience, and great sales.  Speaking of sales, this week the AP rated EJ/BJ Face 2 Face the Top Concert Tour with gross ticket sales per city of over $2.7 million and an average ticket price over $125.

This concert was successful because it followed the magical marketing formula that starts with knowing the audience and their interests.  EJ and BJ weren’t playing for the music critics.  If they had been, I’m sure they would have created a different playlist.  They also got the three “hots” right, hot program, hot talent, and a hot place.  If you do this with a long enough lead time to effectively plan, you’ll have nearly always have a great event.  And if you stop talking (or singing) when you should, you’ll have mastered the first rule of follow up.

I wonder how many people were driving home to the suburbs listening to Captain Fantastic and The Stranger…  You can get each album at Amazon for under $8.  Wasn’t that about what the record cost?

When the subject line said “Announcements Concerning EMC World 2009”, I became curious. Is EMC cancelling their user conference?   After all, AIG and Bank of America took a tremendous amount of heat for their sales meetings.   The profitable Northern Trust was recently roasted for its sponsorship of a golf tournament, causing the bank to initiate the return its billion-dollar TARP handout. 

So, is EMC cancelling its event?  No.  It was just a poorly written subject line.  EMC is blasting forward with a welcome reception featuring the Gin Blossoms and a customer event at Universal Studios. 

There are mixed messages about event-related spending circulating in the market place.  As a marketer what are you supposed to do?   Here are a few suggestions.

·         Assess the annual event calendar and rank each event, using current business objective criteria.  Ask practice and sales leaders to participate in this activity.

·         Review contracts and note which can be cancelled, modified or entered into at a later date.  Use your leverage as a participant/sponsor to gain the utmost exposure.  If you plan to participate at a tradeshow, be clear about what will happen to your deposit should the event be cancelled for lack of participation.

·         Check budgets and trim the fat.  Send a lean team, reduce the amount of printed materials and limit internal T&E. 

·         Get the absolute most for your money.  Negotiate hard for extras—speaking opportunities, ads, online exposure.  Create a no-fail, iron-clad plan to manage every aspect of the activity—including follow up.  Maximize every minute you have in front of prospects, partners, customers and the press.     

·         Consider hosting a virtual event.  Virtual events are gaining momentum and acceptance.  Companies are hosting virtual and blended live/online events with terrific results.  For some inspiration, check out the recent Best of Web Virtual Trade Show or Event award winners.

Taking a proactive and inclusive approach to managing marketing events will eliminate surprises and keep the marketing team from being burned.  Events are highly visible activities, and still offer wonderful opportunities for the marketing team to shine.