Live events offer an unrivalled “depth of contact” that are not found in any other kind of marketing media.
These were the words of Alex Reeve, Microsoft’s director of mobile business, who spoke at the Grass Roots Meetings Industry Forum 2011.
Even if typical costs for live events may be traditionally higher, Reeve argues that the benefits of live interaction far outweigh those of other communication methods.
Cited in a Meetpie.com report, Reeve said: “Cost per contact is massively higher than other mediums. But the depth of contact gives great value for money.
“It’s the upside down version of TV – which has a high entry cost, low cost per contact and low depth of contact.”
Reeve went on to reveal that Microsoft – the world’s biggest software company – has a marketing budget of around £24 million. Of this, the majority (£16 million) went into television advertising and retail marketing.
Around £400,000 is spent by the tech-giant on the booking of function venues and other live staging costs that come hand-in-hand with hosting events.
According to CITMagazine.com, he added that the “one-to-one” contact made events “way better than everything else” in terms of marketing investment. Reeve also said that businesses can expect a higher return on investment through relationships forged at live events.
However, he warned that “content is still king”, adding that “you need to get that right once everyone is there.”