Why FOMO Is an Event Marketer's Secret Weapon by Angela Giacchetti
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Angela Giacchetti of Eventbrite presents Why FOMO Is an Event Marketer's Secret Weapon during the Event Innovation Forum at BizBash Live: The Expo New York on October 28, 2014 at the Jacob K. Javits Convention Center.
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Why FOMO Is an Event Marketer's Secret Weapon by Angela Giacchetti
- 1. Why FOMO is an Event Marketer’s Secret Weapon! Angela Giacchetti! NYC Metro Marketing Manager | Eventbrite! @BizBashLive #BizBashNY @briteNYC!
- 2. THE EXPERIENCE GENERATION @BizBashLive #BizBashNY @briteNYC!
- 5. Building Buzz! @BizBashLive #BizBashNY @briteNYC!
- 6. @BizBashLive #BizBashNY @briteNYC! Cross promos and partnerships!
- 7. @BizBashLive #BizBashNY @briteNYC! Cross promos and partnerships!
- 9. Analyzing Buzz! @BizBashLive #BizBashNY @briteNYC!
- 11. Track sales from social activity! @BizBashLive #BizBashNY @briteNYC!
- 12. Use promo codes to track performance @BizBashLive #BizBashNY @briteNYC! !
- 13. Optimizing Buzz! @BizBashLive #BizBashNY @briteNYC!
- 14. Conversion! @BizBashLive #BizBashNY @briteNYC!
- 15. @BizBashLive #BizBashNY @briteNYC! Number of Tickets Sold Number of Page Views % Conversion Rate =
- 16. Why Conversion Matters Example: $10,000 of marketing @BizBashLive #BizBashNY @briteNYC! = 5,000 Page Views 150 Tickets Sold 3% average eCommerce conversion X 150 Tickets Sold X $100 Ticket Price = $15,000
- 17. Why Conversion Matters Example: $10,000 of marketing @BizBashLive #BizBashNY @briteNYC! = 5,000 Page Views 150 Tickets Sold 3% average eCommerce conversion X 150 Tickets Sold X $100 Ticket Price = $15,000 6% conversion 300 300 $30,000
- 18. Track performance through to conversion @BizBashLive #BizBashNY @briteNYC! !
- 19. 25% Mobile: today’s platform! of our event page traffic comes from mobile devices 336% growth in gross ticket sales from 2012 to 2013 @BizBashLive #BizBashNY @briteNYC!
- 20. Beat the timing game! @BizBashLive #BizBashNY @briteNYC!
- 21. Average lifecycle of a fundraiser! @BizBashLive #BizBashNY @briteNYC!
- 22. At what point has an event sold 1/2 of its tickets?! @BizBashLive #BizBashNY @briteNYC!
- 23. People procrastinate! @BizBashLive #BizBashNY @briteNYC!
- 24. Promos fuel FOMO! @BizBashLive #BizBashNY @briteNYC! ! Giveaways! ! Discounts! ! Experiences!
- 26. Buzz at the event: content! • Imagine headlines that you want and work to achieve them! • Create productive work environment for the media! • Consider green room interviews! • Issue press release / hold press conference! • Hire a house photographer! @BizBashLive #BizBashNY @briteNYC!
- 27. Content: fuel for the after-buzz! @BizBashLive #BizBashNY @briteNYC!
- 28. Encourage sharing on the spot! • Live tweeting, Qs, blog! • Encourage engagement with app or hashtag! • Build a content bank! @BizBashLive #BizBashNY @briteNYC!
- 29. In conclusion! 1. Before is where the buzz happens! @BizBashLive #BizBashNY @briteNYC! 2. Drive page views! 3. Use data to optimize conversion! 4. Incentivize to buy early! 5. Use the event experience to generate content & drive FOMO for future events!
- 30. www.eventbrite.com! angela@eventbrite.com! @BizBashLive #BizBashNY @briteNYC! Thank you!
Editor's Notes
- Interesting to zoom in on millennials (folks born between 1980-2000) because they are the ones coming into their spending prime. When it comes to money, ‘experiences’ trump ‘things’
- More than 3 in 4 millennials (78%) would choose to spend money on a desirable experience or event over buying something desirable. Millennials can’t get enough. 72% say they would like to increase their spending on experiences rather than physical things in the next year, pointing to a move away from materialism and a growing demand for real-life experiences.
- FOMO drives millennials’ experiential appetite: Nearly 7 in 10 (69%) millennials experience FOMO. In a world where live experiences are broadcasted across social media, the fear of missing out drives millennials to show up, share and engage. So, what’s an event marketer to do?
- We’re going to re-imagine the marketing lifecycle to optimize for building and maintaining social buzz and word-of-mouth marketing for your event.
- It all starts with driving page views. Utilize partnerships with media outlets, sponsors, speakers, and other talent to help spread the word.
- Encourage social sharing and track activity
- Clearly define value proposition. Add value by providing a discount to partner communities and organizations.
- Find out what’s working for you. Who you biggest advocates are, and where their chatting about your event.
- Dollars Per per share is on the rise – and Facebook drives more revenue from ticket sales than any other platform. Every time someone shares an event, it drives, on average, $3.23 in additional revenue back to you—the organizer. To make the most of social sharing, you need to find out what platforms are working hardest for you.
- With Eventbrite, you can track sales from social activity, better understanding how, and where, your audience is buzzing about you.
- People will procrastinate, so it’s all about driving the awareness early, getting people to your event page to check it out, and then making sure you get them back later to convert. Know where your other traffic sources are coming from—what partners or channels are working to drive event page visits.
- Page view aren’t enough.
- You have to consider mobile when thinking about conversion. There are more smart phones in use today than all the PCs ever made (verify). In today’s world you have to be mobile optimized. You will lose conversions if you aren't. Over 25% of our traffic comes through mobile devices, if a quarter of your traffic comes from mobile, think about all the conversions you are losing if you don’t have an experience that allows people to easily buy tickets through their phones.
- We get calls into customer support center from fundraisers, when it’s a few weeks before their event, but they haven’t sold many tickets. They get worried. The fact is, fundraiser tickets on average go on sale 4-6 weeks before the event, And ¾ of events see the majority of sales just in the last week or two before their event.
- Furthermore, attendees often wait until the very very last moment, like the week before. 33% of events sold half the tickets just one week before the event And 38% haven’t even reached half of sales until they were a few days away from their event. It’s difficult to plan, there is a fear of a poorly-attended sparse event with no social momentum, and ultimately, putting in the expenses into an event and not getting all the benefit from revenues to cover funding for programs and operations of your organization.
- People will still procrastinate, so it’s all about driving the awareness early, and THEN INCENTING THEM TO CONVERT EARLY
- Ramp up social sharing with great presentation
- Distribute Media advisory to invite media to attend Only host a press conference if there’s hard news (a report, an announcement, a first-of-its-kind)
- • Drive Thought Leadership Live tweet with content --> Have 'pre-loaded' content ready for sharing for each topic/presenter (Fundraising, new technologies, etc.) that you can drop quotes into from each presenter + publish blog posts the day of, Top ten learnings recap at end of day • Drive Engagement: Encourage engagement via the Double Dutch app (there's a leaderboard for usage + you can post straight to your FB/Twitter through the app) by posting questions/polls, etc. • Showcase Your Brand's Voice and Personality Interview speakers on Instagram video during the day with fun questions (what's the last app you used, what technology cant you live without, the last great event you planned/went to) that will be pushed out through social channels