Event Strategy Success
How to define objectives and identify your target audience
Event Strategy Success
How to define objectives and identify your target audience
Let’s set the strategy!
As an event planner, you know that creating a successful event requires a strong event strategy framework. You need to be able to have an idea of what your event should look like, and what its purpose is, along with many other components of event management. This might seem a bit daunting at first but this article aims to help you kickstart the planning process for your event. This guide will cover the crucial steps involved in defining your objectives and identifying your target audience which will strengthen your event planning strategy. We will also provide you with valuable tips and best practices so you can put together a successful event strategy whether you are planning one or multiple events.
What event are you organising?
Whether you are organising a trade show, conference or exhibition, we’ll provide you with an example throughout the article to show you how to put these steps into practice when planning your event. This can give you a better idea of how to identify your objectives and target audience. We will be focusing on in-person events, although virtual or hybrid events would follow a similar pattern. Since there is an event for pretty much everything these days, which highlights the importance of ensuring there is enough demand for your event and that your event stands out in your industry, we decided to pick an event that doesn’t actually exist to use as our example… The Unicorn Show!
Finding and researching your target audience
Figuring out the target audience for your event is the first critical step in creating an effective event strategy. Your target audience is essentially the group of people who will get the most out of your event and are most likely to be interested in what you’re event is offering. This is why it is so important to find the ideal attendee as they could make all the difference between an average event and a successful one.
Market Research and Surveys
Thorough market research is one of the best ways to effectively determine your potential visitors. This involves analysing demographics such as age, gender, location, job title, company details, and income level as well as relevant personality traits, interests, and values. These demographics are just an example; the demographics you use will be determined by whether you are creating a business-to-business (B2B) or business-to-consumer (B2C) event (or a mixture of the two).
If you are planning on organising a B2B event, you will typically need to focus on making your event as professional, educational, and efficient as possible. A B2C event, however, would generally be more focused on making the event enticing and interactive. By knowing all there is to know about your potential attendees, you can figure out what interests them the most about your potential event and then tailor your event strategy to meet those needs. This can ultimately result in happier and more engaged attendees on the day of your event, which is exactly what you want. You can also conduct this type of event research through a survey, which can let you ask specific questions that will help you understand your potential visitors and give your event strategy something to work with.
Data Analysis from Previous Events
Another effective way to get to know your potential visitors for your event strategy is by analysing data and key metrics from previous events. If you have experience organising similar events in the past, using event data and looking at attendance rates as well as feedback and engagement metrics can be hugely beneficial for understanding your potential attendees’ preferences and behaviours. Not only can this help you narrow down your visitor list for your event strategy even more, but it can also attract past attendees and increase their interest in your new event. Having returning attendees is a real bonus for event planners because you can start to develop a relationship and a sense of community with them. Using the power of data for your event planning can give you a head start on creating event success as it can lead to higher attendance and increased engagement.
A Step-by-step guide to finding your target audience
Example: I am planning to host an event called The Unicorn Show, which is a consumer show with a trading day for unicorn owners in the UK. To find out who would be interested in attending this event, I did some research on unicorn owner statistics in the UK… well, sort of!
I used information found on Google, various pet associations and government data that included up-to-date statistics.
The information I found was:
The pet industry generates roughly £4.7 billion a year
Approximately 374,000 households own unicorns
The average age of unicorn owners is 13 years old, with financial support coming from parents, who need upwards of £6,000 a year to afford a unicorn
74% of unicorn owners are female
There are no competitive unicorn sports, so unicorns are kept as pets only
Summary
From the information gathered, the event would need to be catered to families with young daughters with a focus on non-competitive unicorn products and services. With nearly 400,000 unicorn-owning households, this is a large target audience which could have an interest in attending our event.
Finding and researching your target exhibitors
Just as you need to carefully select the right visitors for your event, you must also do the same with potential exhibitors. Trade show, public event, conference, or corporate – the right exhibitors can make all the difference in your event’s success. You’ll need to see how many exhibitors are in your industry to help you work out where you should be hosting your event. To find the right exhibitors, you’ll need to consider your event’s theme, objectives, and list of potential visitors so that they mesh well with each other.
Finding common ground
Whether you are organising a trade show, conference or exhibition, we’ll provide you with an example throughout the article to show you how to put these steps into practice when planning your event. This can give you a better idea of how to identify your objectives and target audience. We will be focusing on in-person events, although virtual or hybrid events would follow a similar pattern. Since there is an event for pretty much everything these days, which highlights the importance of ensuring there is enough demand for your event and that your event stands out in your industry, we decided to pick an event that doesn’t actually exist to use as our example… The Unicorn Show!
Narrowing down exhibitors
Start by creating a list of potential exhibitors who fit your event’s theme, clear goals and objectives. You should have good knowledge of companies within your industry, but spend time researching companies by visiting their website and social media pages to gain a deep understanding of their brand, products/services, and if they would suit your attendees.
Lastly, reach out to your potential exhibitors. Having a conversation about their services and your event can give you an even clearer picture of whether they would be suitable or vice versa. Putting in the effort to get to know your target exhibitors can pay off as it ensures that each exhibitor will match your event’s brand, goals and values.
Step-by-step guide to finding your target exhibitors
Example: Now that I know the statistics and demographics for The Unicorn Show, I can start planning what kind of exhibitors I’d like at the event.
Since the dominant demographic of unicorn owners are young parent-accompanied females, the exhibitors should showcase products and services that are family-friendly and within the parent’s budget.
I began my research by looking at how many unicorn-related businesses there were in the UK. These included businesses that provided services in the following sectors:
Food
Grooming products
Tack/Gear
Transport/Livery
Accessories
Summary
Across all of these sectors, there were potentially 1,000 companies whose services and products would align well with my target attendees and event.
Defining Objectives
Now that you know who would be interested in coming to or showcasing their products at your event, the next step is to figure out what exactly it is you want to achieve. This means identifying and setting your objectives and event goals, which can then be used to tailor your event planning strategy. Some common objectives for events include industry leadership, revenue generation, and community building.
Whatever your objectives may be, it’s important to clearly define them so that you can create an event that aligns with your event goal and strategy.
Step-by-step guide to defining objectives for your event
For example: My objectives for the Unicorn Show are the following:
- Create the UK’s first Unicorn Show
- Offering the thousands of Unicorn owners the chance to attend an event where they can:
– View the latest products and product launches
– Speak and listen to experts - Help the Unicorn industry companies to sell their products directly to their target market
- Allow speakers and sponsors new opportunities to promote their brands
Establishing your goals and KPIs
Now that you have your objectives sorted, it’s important to ensure that you can keep tabs on your progress. This means establishing key performance indicators (KPIs) that will allow you to track your progress step-by-step and measure the success of your event strategy as it unfolds. Examples of KPIs for events can include attendance, revenue, and attendee satisfaction. This allows you to focus your efforts on the aspects of your event that will have the greatest impact on achieving your event goals. For example, if your event goal is to increase revenue growth, you can focus on pricing strategies or sponsorships that will generate the most income.
Example Unicorn Show KPI’s:
- I’d like for there to be a large turnout of attendees, based on a total population of nearly 400,000 unicorn owners, I’d want to be able to attract 1% of them in the first year – so 4,000 visitors.
- We should aim to sign up 100 exhibitors, covering 10% of our target market
- In the first year we want to break even financially
Encouraging Industry Thought Leadership
Another factor you may want to consider is how your event strategy will positively impact your brand and your thought leadership within your industry. Including this aspect in your strategic event planning process will take your event a step further in making it a success, especially in the long term.
As a successful event planner, your goal should be to create and manage an event that establishes your brand as a thought leader in your industry. This means positioning your event as a platform for industry experts to share their knowledge and expertise, and for attendees to learn from them. By doing this, you can set your event apart from others in your industry. Encouraging industry thought leadership successfully will also encourage a better reputation for you, your event and your business.
Explore trends, changes and growth in your industry
To achieve industry leadership through your event strategy, you must first find the key topics and issues that are most important to your industry. This could include emerging trends, new technologies, or important policy changes. Once you have identified these topics, you can begin to search for industry experts who can speak to them. This may involve reaching out to influencers or other thought leaders who could give your visitors and exhibitors a unique and thought-provoking experience throughout your event.
Discovering trends
Example: To get a better understanding of the trends within the Unicorn industry, I had a look at how it was presented on social media platforms like Twitter (X), TikTok and Instagram. I researched any trends using the keyword ‘unicorn’, ‘unicorn show’, ‘unicorn grooming’ etc. to see what came up. Seeing how the public reacted to unicorns as a theme gave me a good idea of what they would expect from an event like the Unicorn Show.
Conclusion
In conclusion, strategic event planning is essential to the success of any event, however, as you can probably tell, there are a lot of components to bear in mind. Defining objectives, identifying potential attendees, researching potential visitors and exhibitors, and establishing clear goals and measurable KPIs are all important steps in creating a targeted and effective event strategy. Remember, that it is always best to take your event strategy a step further by thinking about the long-term impact of excellent thought leadership your event could have within your industry as well as any trends that could make it even more popular.
Creating the event strategy is just the first part of planning out a successful event. There is a lot for you to work on, and we’ll cover other event management topics to help out as best we can. One area where we can go that step further is with event registration. Jonas Event Technology are the experts in event registration and can help you tick that important job off your to-do-list, leaving you to focus on… well, everything else!
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