Should Event Producers Mimic Luxury Retailers?

Luxury retail is dog-eat-dog. Unlike event producers, players in the business must stay ahead of audiences to survive. That's why they're hyper-focused on consumer trends.

Sabre identifies five of those trends in a new report, The Future of Luxury.

To survive in luxury retail, the report says, you must satisfy "individualized and transformative forms of luxury consumption" that deliver a cosmopolitan and existentialist jolt.

"More consumers are becoming aware of the isolating effect of social media ‘echo chambers.'" the report says. "This is accompanied by a growing desire to not only broaden personal horizons, but to find purpose and cultivate empathy for others while doing so."

Consumers' craving for self-actualization manifests itself in these five trends—five trends event producers would do well to acknowledge:

The Quintessential Self. Luxury brands that abet self-discovery are hot. For just $3,500, Maverick Helicopter’s Yoga in the Desert will whirl you by helicopter from Las Vegas to Valley of Fire State Park for a 75-minute yoga class.

No-Frills Chic. Luxury brands that shout "simple" are hot. For just $140,000, Airstream will sell you a camper trailer you can haul into the woods.

Premium Redeemed. Luxury brands that better the planet are hot. For just $2,125, you can stay a night in Nekupe, a posh resort in Nicaragua’s countryside that helps local farmers earn a living without the slash-and-burn technique.

Extravagance on Demand. Luxury brands that harness phones are hot. For just $3, Recharge lets you book a high-end hotel room in New York City by the minute.

Customized. Luxury brands that are personalized are hot. For just $169, DNA Unwrapped lets you plan vacation trips based on your chromosomes.

Which Content's King among Executives?

Which B2B content rules among corporate leaders?

Content agency Grist asked 200 of them.

The answer: leaders want to read 800-word articles about customers' experiences.

The executives' detailed responses about the content they value are eye-opening:

Whose viewpoints do you want to hear?

• 57% said clients'
• 53% said industry experts'
• 44% said consultants'
• 42% said the public's
• 36% said peers'
• 36% said motivational speakers'
• 32% said government officials'

Which formats do you prefer?

• 63% said 800-word articles
• 57% said 500-word blog posts
• 45% said 1,200-word articles
• 31% said slides shows
• 28% said white papers
• 28% said e-books
• 26% said videos
• 25% said podcasts
• 20% said infographics

Sponsors Want Spillover

Rigid thinking causes most trade show organizers to continue peddling sponsorships like they were ads, when today's sponsors want something much more valuable.

Sponsors want spillover.

Spillover results when attendees transfer their good feelings about an event to its sponsors―an effect no ad can produce.

While today's marketers believe awareness―the outcome of advertising―is hard to measure and cost-justify, they don't feel that way about engagement―the outcome of sponsorship.

Today's marketers will sponsor an event to engage people within communities; to build relationships and demonstrate market leadership, customer care, and social responsibility. 

They'll even do it merely to block a competitor from doing it.

But they won't sponsor an event for awareness.

Can You Overpost?

Is it possible to post on social media too often?

The answer is: yes, if your content screams, "Buy from me" (a single post like that is one too many); no, otherwise.

Remember: only a fraction of a fraction of a fraction of your audience ever sees your posts.

How to Ignite More Attendees

Why are marketers pouring money into influencer marketing?

Dwell time.

Customers spend on average 19 seconds looking at a digital ad, 128 seconds looking at an influencer's content.

That's seven times the dwell time—a duration likely to rise soon with the increase in ad-blocking in the coming months.

So how can you use influencer marketing to promote your event? 

Experiential agency Legacy Marketing suggests these 10 ways:

Find the right influencers. To find thought leaders in your category, surf on social platforms using hashtags and trending topics relevant to your event.

Set reasonable expectations. Understand both the positives and negatives of the influencer's preferred social network when you establish goals.

Chill out. Let influencers do what they do. You can mention guardrails they should keep within, but don't dictate their posts.

Build a relationship. Don't treat the influencer like another vendor. Make her part of your family.

Strive for quality. Quality trumps quantity. You're better served finding an avid "micro-influencer" with 1,000 followers than a haughty generalist with 1 million.

Run contests. Engage the influencer in helping you promote contests.

Minimize brand-speak. Give the influencer talking points, but let her do the talking.

Track. Ask the influencer to use tracking tags when possible, so you can measure her efforts. Be sure she also includes a link to your website!

Be patient. Influencer marketing takes time.

Be authentic. Influencer marketing works because it’s a way to leverage a trusted voice. Don’t compromise that trust by inserting marketing messages where they're not welcome.