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8 Things You Need to Know About Life Event Marketing

As people progress through life, they experience certain events which stand out as being extremely important, like marriage, graduation, retirement, or the birth of a child. For a business or an event company, these life events offer an opportunity to aim marketing efforts at a specific group of people, based on what they are going through.

Today, life event marketing is widely used and studies show that it can be a powerful and effective technique. Yet, there are certain 'best practices' for marketers and other elements that should be avoided completely. Here, we provide an overview of 8 things you need to know about life event marketing.

1. There is a direct link between life events and purchasing power

Life events are responsible for a significant amount of consumer spending. People changing jobs buy new suits, while couples having a baby buy new cars. According to Forrester Research, consumers are 43 percent more likely to buy a financial product around a life event. This highlights why life events are considered a huge marketing opportunity.
Event Marketing
2. Life events are almost always emotional experiences

With important life events like having a child or graduating from university, emotion is an important factor. In fact, a report produced by Networked Insights states that between 25 and 35 percent of all discussion surrounding life events is based around emotion, with more than 70 percent of that being positive discussion.

3. But marketers need to be aware that events produce different emotions

While positive emotions are most common, different life events result in different emotions. For instance, graduation centres on feelings of desire and hope, while divorce produces much more negative emotions. Marketers need to be aware of this, be sensitive to how particular events make people feel, and know when to keep quiet.

4. People talk about their life events on social media

In the modern age, it is almost second nature for people to turn to social media websites like Facebook, Twitter and Instagram when they reach a major milestone in their life. With Twitter in particular, this information is often public and available to be viewed by anyone.

5. This makes them easy for marketers to approach

From a business' point of view, one of the great things about social media sites is the ability to search posts or Tweets. A business selling formal wear can easily find people discussing an upcoming wedding, while an exhibition company promoting business electronics can easily identify people who are about to start a new job.

6. Marketing works best when businesses provide solutions to problems

Despite the public nature of social media websites, many people still value their privacy, so it is important that marketers don't poke their nose in where it isn't wanted. The best way to avoid this is to look to provide solutions to problems. This can be achieved by targeting those who are asking questions or seeking advice. 7. Life event marketing is measurable

Businesses involved in life event marketing should track the number of outreach messages they send to people experiencing particular life events, and the number of clicks and conversions they generate. This allows future marketing to be tailored towards events that produce success. "To track which outreach messages generated leads and sales for you, enable Google Analytics conversion tracking into your key page," advises Vernon Niven, the CEO of NeedTagger.

8. And it can form lasting relationships between consumers and businesses

One of the defining traits of a major life event is that it is memorable. This provides a unique opportunity for businesses, because it allows them to become involved in an important memory for a consumer. For this reason, life event marketing has the power to form a lasting bond between a consumer and a business.

Author Bio :

Reno is a Director of a leading exhibition and event company Enigma Visual Solutions, specialising in event branding , retail designs, interiors, graphic productions, signage systems, event planning, office interior design and much more. He specialises in experiential marketing and event productions. He enjoys sharing his thoughts on upcoming marketing ideas and design trends. You can follow him on Twitter.

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Any facts, figures or references stated here are made by the author & don't reflect the endorsement of iU at all times unless otherwise drafted by official staff at iU. This article was first published here on 1st March 2016.
Reno Macri
Reno Macri is a contributing writer at Inspiration Unlimited eMagazine.

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