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Published in Branding category on (11/07/2012)

What Is a Brand and Why Should Event Managers Care?

brandimage.jpgIn the ongoing quest to increase the business value of meetings and events, marketing teams and event organizers are converging on the same playing field. Rather than having a marketing department pass the baton to the event organizer and hope the brand will be accurately reflected, event organizers are embracing the “marketing mindset” when it comes to building brands and increasing market share.
The deeper reasons for this convergence become clear when you consider the meaning and value of a brand.
 
The Definition of a Brand

Marketing and branding thought leader, Seth Godin, defines a brand as “The set of expectations, memories, stories, and relationships that, taken together, account for a consumer’s decision to choose one product or service over another.”  Godin’s definition highlights the fact that branding goes well beyond a flashy logo or clever print ad.

 
The Value of a Brand

A brand is not established merely to look good – while one main job of a brand is to attract, it also serves to create preference. Aswath Damodaran, professor of finance at New York University’s Stern School of Business, says a brand’s value is derived from the extent to which it can sell its goods and services at a premium price. Godin supports this concept, saying, “If the consumer doesn’t pay a premium, make a selection, or spread the word, then no brand value exists for that consumer.”

Why Should You Care About Branding?

Events and meetings are always about selling something–an idea, product, or service–so the idea that a strong brand can enable us to charge a premium, influence a selection, or generate “buzz,” are compelling reasons to drive branding goals across the meetings and events organization. In today’s super-competitive world of events, it’s crucial to give your event a leg up by branding it well.

Branding across the Event Ecosystem

Marketers and organizers alike are turning to event management platforms that have a high degree of customization and flexibility, and a comprehensive set of brandable tools to maintain consistency across every touchpoint of an event.  From pre-event communication, to event registration, to the event website, mobile, social, communities… every piece should clearly and easily reflect the brand.  This is made possible with the right event management technology platform.

Learn more about branding for events by downloading your copy of The Event Professional’s Guide to Branding.

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