Hybrid Marketing: Intuitive, Relevant and ChallengingIn recent years, seismic shifts in technology and economics, has resulted in sweeping changes acrossthe socio-political spectrum as well. Unpredictability of this sort has been unprecedented; for thesedays, paradigms shift at an accelerated speed. The business and marketing worlds have been acutelysensitive to these shifts and beating the curve has never been more vital, particularly, in the sphereof customer behavior. A specific strand of marketing has gained ground in the current environment,which helps new-age marketers retool their strategy to befit our complex times and the ‘hybrid’infotainment consumption trends of customers today. Hybrid Marketing is a thriving marketingstrategy that takes into account online, offline, and various spectrums that intersect between thetwo.A small instance of how reaching out to consumers should be adapted to their changing behavior isthe way books are accessed. A 2012 survey demonstrated that people, who regularly bought 10 ormore books each year, intended to buy a mix of digital e-books and printed books. The survey alsorevealed that regular book buyers across various demographic segments were not limiting theirpurchase choices to either print or e-books but were actively exploring purchase options acrossmedia. Given the micro scale of trend-shifts, as compared to the earlier macro scale, where typicalconsumer behavior trends shifted in the span of months and years, marketers are tracking this hybridconsumption trend closely, for within a matter of days consumption patterns could alter. Indeed thenature of change in today’s world is fleeting and rapid. This is a technology-inspired trend where therapid innovation in technology is creating a world where ‘trends’ have an incredibly small window ofopportunity to thrive. Even consumers have shown a rather great appetite for this scale of change.Dollars spends are also an indication of the growing influence of Hybrid Marketing. For better or forworse, the floundering of the print industry in the West shows how advertising spends have declined,not only due to the economic crisis, but also because consumers have transitioned to reading online.Ad dollars are now spread across the internet and perhaps advertising using digital media willdominate in the years to come. The major driving force for the shift in spends onto Web 2.0 camewith the revolution of social media. People were not just reading or listening to music or playinggames in the virtual world but also began to live there – in a sense – thanks to Social Media. Thisbecame a differentiator between Web 1.0 and Web 2.0, where static consumption has led to a user-driven and interacted-led experience. Users are generating and distributing content, just as much ascontent-creators do. This requires marketers to remain on their toes, watch out for trends not just inone or two forms of media like before, but across several media and sub-media. For instance, onlinemarketing could involve ads on search engines as much they could involve creating buzz-worthy user-apps on social media. In fact, this multi-dimensional marketing style defines Hybrid Marketing.Another online trend that forms a component of Hybrid Marketing is ‘crowdsourcing’ that is usingmass collaboration – a defining aspect on Web 2.0 – to realize business goals. This is not just a trendthat marketers tap into but an unavoidable strategic need, for in many, multi-layer ways, consumersdrive business goals today. They have to be included in creating strategies that will eventually bemarketed to them, for without this inclusion, their unpredictable ‘mix and match’ style consumptionbecomes hard to keep track. It is not just consumption trends across media that reflect this ‘pick,choose and customize’ pattern, like the book buyer example mentioned earlier, but within media aswell. An example of this is how users customize their TV-viewing needs with the help of Direct-to-Home services.Even research shows the direction in which Hybrid Marketing, as far as TV consumption is concerned,is defining marketers’ hybrid strategy. A consumer behavior study of South Korean TV users unveileda hybrid viewing trend, which included a combination of DTH and IPTV (Internet-driven television).
This mixed-style of TV-viewing is taking over most developed and developing countries. Taking intoaccount the fluid consumption trends these days is a must among marketers, as they find that ahybrid marketing strategy has to be adopted across market segments. In fact, the merging of themarket segments is another aspect of hybrid marketing. This transcends the consumption of mediaand into the product space. An example is Toyota’s Hybrid cars, each car caters to dual segments,reflective of the consumer that wants a bit of the Hatchback and the Sedan, a bit of this and that.Hybrid Marketing has emerged in a substantial way and crowd-sourcing is poised to take on greatermomentum. The ‘wisdom of the crowds’ is set to have an impact on the global market, as masscollaboration seems a real possibility, this too will revolutionize marketing strategies. Traditionalperception of pricing, place and promotion will weaken and in its place will emerge an ‘anywherelocation’ concept, fuelled by a seamless internet and user-driven social media. This will beaccompanied by the trend of quality, invariably trumping price.While in terms of business strategies the emergence of Hybrid Marketing makes an exciting casestudy, it poses a challenge for those who have to carefully tailor this strategy to reach consumersacross media and in sub-spaces within specific media. Consumer segments blur as wealth is createdin unprecedented ways and means, with hidden connections and dynamism, the kind of wealth-creation that’s revolutionary and surprises traditional strategists and economistshttp://www.designdamage.com/the-emerging-trend-of-hybrid-marketing-model/Event MarketingThe activity of designing or developing a themed activity, occasion, display, or exhibit (such as asporting event, music festival, fair, or concert) to promote a product, cause, or organization. Alsocalled event creation.Read more: http://www.businessdictionary.com/definition/event-marketing.html#ixzz1tB06sKzqEvent management is the application of project management to the creation and development offestivals, events and conferences.Event managementInvolves studying the intricacies of the brand, identifying the target audience, devising the eventconcept, planning the logistics and coordinating the technical aspects before actually executing themodalities of the proposed event. Post-event analysis and ensuring a return on investment havebecome significant drivers for the event industry.The recent growth of festivals and events as an industry around the world means that themanagement can no longer be ad hoc. Events and festivals, such as the Asian Games, have a largeimpact on their communities and, in some cases, the whole country.The industry now includes events of all sizes from the Olympics down to a breakfast meeting for tenbusiness people. Many industries, charitable organizations, and interest groups will hold events ofsome size in order to market themselves, build business relationships, raise money or celebrate.Marketing toolEvent management is considered one of the strategic marketing and communication tools bycompanies of all sizes. From product launches to press conferences, companies create promotionalevents to help them communicate with clients and potential clients. They might target their audience
by using the news media, hoping to generate media coverage which will reach thousands or millionsof people. They can also invite their audience to their events and reach them at the actual event.ServicesEvent management companies and organizations service a variety of areas including corporateevents (product launches, press conferences, corporate meetings and conferences), marketingprograms (road shows, grand opening events), and special corporate hospitality events like concerts,award ceremonies, film premieres, launch/release parties, fashion shows, commercial events, private(personal) events such as weddings and bar mitzvahs.Clients hire event management companies to handle a specific scope of services for the given event,which at its maximum may include all creative, technical and logistical elements of the event. (Or justa subset of these, depending on the clients needs, expertise and budget).Event managerThe event manager is the person who plans and executes the event. Event managers and their teamsare often behind-the-scenes running the event. Event managers may also be involved in more thanjust the planning and execution of the event, but also brand building, marketing and communicationstrategy. The event manager is an expert at the creative, technical and logistical elements that helpan event succeed. This includes event design, audio-visual production, scriptwriting, logistics,budgeting, negotiation and, of course, client service. It is a multi-dimensional profession.An event architect is an event manager that becomes involved at the early initiation stages of theevent. Specially for larger public events, at the initiation stage, the event architect needs to makecrucial choices and decisions related to the creative concept and design of the event. In depthtechnical design knowledge and full understanding of how to communicate a company´s messageacross a public are needed in order to make the event effective.If the event manager has budget responsibilities at this early stage they may be termed an event orproduction executive. The early event development stages include: Site surveying Client Service Brief clarification Budget drafting Cash flow management Supply chain identification Procurement Scheduling Site design Technical design Health & Safety Environmental and ecological management Risk managementAn event manager who becomes involved closer to the event will often have a more limited brief.The key disciplines closer to the event are: Health & Safety including crowd management Logistics and vehicle selection Rigging Sound Light Video Detailed scheduling and agenda planning Security
SustainabilitySustainable event management (also known as event greening) is the process used to produce anevent with particular concern for environmental, economic and social issues. Sustainability in eventmanagement incorporates socially and environmentally responsible decision making into theplanning, organisation and implementation of, and participation in, an event. It involves includingsustainable development principles and practices in all levels of event organisation, and aims toensure that an event is hosted responsibly. It represents the total package of interventions at anevent, and needs to be done in an integrated manner. Event greening should start at the inception ofthe project, and should involve all the key role players, such as clients, organisers, venues, sub-contractors and suppliers.TechnologyEvent management software companies provide event planners with software tools to handle manycommon activities such as delegate registration, hotel booking, travel booking or allocation ofexhibition floorspace.EducationThere are an increasing number of universitieswhich offer courses in event management, includingdiplomas and graduate degrees. In addition to these academic courses, there are many associationsand societies that provide courses on the various aspects of the industry. Study includesorganizational skills, technical knowledge, P.R., marketing, advertising, catering, logistics, decor,glamor identity, human relations, study of law and licenses, risk management, budgeting, study ofallied industries like television, other media and several other areas. Certification can be acquiredfrom various sources to obtain designations such as Certified Trade Show Marketer (CTSM), CertifiedManager of Exhibits (CME), Certified in Exhibition Management (CEM), Global Certification inMeeting Management (CMM), Certified Meeting Professional (CMP) and the Certified Special EventProfessional (CSEP). Career opportunities are in the following Industries : 1. Event Management 2. Event Management Consultancy 3. Hotel, travel and hospitality Industries 4. Advertising Agencies 5. Public Relations Firms 6. Corporations 7. News Media 8. Non-profit organization 9. Integrated Marketing & Communications 10. Event Budgeting and AccountingCategories of EventsEvents can be classified into four broad categories based on their purpose and objective: 1. Leisure events e.g. leisure sport, music, recreation. 2. Cultural events e.g. ceremonial, religious, art, heritage, and folklore. 3. Personal events e.g. weddings, birthdays, anniversaries. 4. Organizational events e.g. commercial, political, charitable, sales, product launch,expo.