Events have been vital to us - we hold monthly parties on the coast, they are sold out within 48 hours of going on sale and are attended by around 130 people ... the benefits are huge
i) We are now a community not just a site
ii) You have to be a member of the site to attend the party - word of mouth on the quality of the parties means our site is in demand
iii) It gives you good leverage (no pun intended) with business partners if you can be seen to have activities/presence off-line.
iv) PR from the events to promote the site
v) We get sponsorship for our events and this in turns raises the profile of the site/event
vi) Events help reinforce the brand
vii) It gives a focal point on the site- there is always a buzz on the site "pre" party and also lots of 'buzz" after a party.
The parties are really hard work - they take a lot of organising in the run up and "hosting" from 9.00pm - 4.00am is tough ... but they are good fun and a great success ... plus it gives Mrs. Scallywags an excuse for a new outfit every month - lol ...
I know it is not possible for all sites to hold / organise events - but a quarterly - or even annual event would be a great focal point.
