ASSESSMENT 3 HM302

$10.00

Category:

Description

ASSESSMENT 3 HM302

HM302

Special Events Management and Marketing

ASSESSMENT 3

Report

Virtual Event: iGrowth – Online E-commerce Business Webinar

Executive Summary

This report provides an overview of the planning and research process for organising a Virtual event. The report will be based upon the simulated iGrowth Event which is an online E-commerce Business conference event. The market research methods including survey techniques, data analysis and evaluation techniques will be explained. The integrated marketing strategies for the event will also be highlighted. The goals and objectives of the virtual event as well as the risk management strategies will also be outlined. Event logistics for the virtual event are described in the report.

A group critical reflection is also included in the end of the report, which summarises what the group believes was done well, which areas need improvement and the individual contributions to the events team.

Introduction

Due to the recent pandemic, virtual events have become an increasingly popular and appropriate option for organisations and event planners. Although the virtual events were considered as an inferior alternative to the traditional in-person conference style events, they have since proven to be just as effective and much cheaper to plan and implement. The overall cost of holding a virtual event will be greatly reduced, 75 percent less expensive on average. Event planners will save on staffing costs, venue hire, setup and takedown of equipment and decorations, attendee’s hotels costs, catering, travel expenses, and so much more, according to (Sadd, 2014). The only thing that the event planners must consider is the cost of the virtual conferencing platform. Because it is a virtual event, the event planner, staff and attendees can save a lot of time travelling, preparing and waiting for the event. Event planners are constantly striving to expand the scope of their events to acco...

ASSESSMENT 3 HM302
Last updated: Feb 2022

Page 1

mmodate more people. With virtual events, the event planners can promote the event by sharing links to their websites and other social media sites. People from all around the world can join without having to worry about traveling and the geographic location of the event. Hosting a virtual event also allows planners to add their desired hosts, no matter where they live.

Market Research

In terms of qualitative data, surveys and questionnaires are usually the most popular method for market research. Surveys and questionnaires allow marketers to target their questions toward the specific audience and also allow them to tailor the type of questions and responses that they are seeking. Data collection is also a quick and easy process, as each survey will only take a few minutes and can be completed by multiple people at the same time. The data collected from the surveys and questionnaires can also be easily compared to pre-determined organisational goals and whether they pass, matched or succeeded the goals initially set out.

Quantitative data can also be collected and provide valuable insight into the performance of virtual event marketing and promotional activities against plan objectives. This type of data comes from measuring a number of different indicators such as total market share of the event, total number of attendees, growth rate of attendees and rate of return attendees. These are all available from the booking records which should be able to track these figures based on attendance data. These are also easily comparable to predetermined event planning goals and objectives and provide a very intuitive monitoring technique.

According to Market research data from (Markletic Event Research, 2020), on average smaller virtual events can take between 3-6 weeks to promote and plan successfully, whilst larger virtual events take over 6 weeks. 63% of people say that the ideal length for a virtual event is between 60 and 90 minutes. 70% of event organizers say that good microphones are critical to a successful event and a good microphone is more essential than a camera in which marketers ranked at 60% importance.

60% of virtual event organizers use social media to drive significant registrations. 76% of marketers say that email is the single most effective way to drive registrations. 49% of marketers say that programmatic advertising is a large contributor to event registrations. 51% of B2B companies use their business partners (channel) to drive registrations. The average promotional period lasts 3.5 weeks.

The use of surveys and questionnaires can also help in predicting and analysing market sentiment regarding the Virtual Event. The introduction of traditional media should act as a continuation of product exposure to the public and must be relatively fresh in the minds of consumers. The launch of traditional media should however, refrain from overburdening or saturating the market with advertising which could lead to an undesired effect of overexposure.

Throughout the marketing and selling of the virtual event tickets, a substantial amount of data will be collected and analysed in order to track performance against specific targets. This data is collected through surveys and questionnaires completed by attendees, as well as the response of different sales measurements relative to the release of different marketing projects. Certain attendance trends and other information can be extracted from this data which…

...

ASSESSMENT 3 HM302
Last updated: Feb 2022

Page 2

You've reached the end of your free preview.

Want to read all pages?