Proprietary Events Heat Up: Spending on proprietary events on the rise
Event departments around the world are expected to double their financial commitments to the red-hot proprietary event trend in 2013. Proprietary events, the ownable, single-brand produced events that so many Fortune 1000 companies are rolling out, evolving, tweaking and expanding, are generating some of the event industry’s fastest and most impressive ROI numbers.
With good reason. In a world of constant stimulation and instant information, it only gets harder to keep the eyes of your customers on your brand, product or service. Whether it’s online or on a trade show floor, the landscape is crowded. It’s no wonder spending on proprietary events is skyrocketing: “At a proprietary event, you’re not in a competitive landscape,” says Lucy Bassert, Vice President-Strategic Accounts at leading experiential marketing agency Sparks. “You have full control over the experience your audience receives everything from the event environment to the way content gets delivered.”
A proprietary event is an ownable event focused on one brand: yours. And it provides a platform for delivering multiple layers of content in a way that no trade show or meeting can. “It allows for a lot more scope in delivering content in an appropriate way, whether it’s aspirational content, one-on-one demonstrations or networking,” says Mike Ellery, VP-Creative at Sparks.
These are not one-off events. They build momentum year over year, accelerating the sales cycle and boosting leads. Event marketers are leveraging proprietary events across many channels and using them to enhance the bottom line. “People are getting smarter about how they do these things and what the function of a proprietary even really is,” says Bassert. “They’ve gone from being more marketing- focused to being more of a sales or bottom line-driven event.” Smart marketers are measuring how far people come through the sales cycle where they were before the event and where they are after.
Proprietary events are more business driven, sophisticated and have a global reach. Additional audiences can be engaged using a live webcast, posing social media questions and other elements. Social media and microsites play a role as well, expanding the reach of the event beyond a few days.
Brands are using their proprietary events to get customers and prospects in one place, and benefiting from it both onsite and online. It’s no wonder proprietary events continue to grow. They deliver on every front.
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