What is B2B Event Marketing?
To speed up the lead generation pipeline and sales cycle short, B2B event marketing is considered as the proven method to excel in business networking and build relationships.
The offline marketing channel facilitates the physical interactions that result in relationship building, leading the way to B2B lead generation sales pipeline acceleration and acceleration of customer retention and brand awareness.
The B2B companies organize events to launch their new products/services where they aim to share knowledge to get valuable clients for sales. Vendors, media persons, leaders, etc are the attendees of such conferences who are curious to learn about what’s new in the market and also play the role of a critique to acknowledge brands and their services.
Event marketing can be of different types and for different purposes. Sometimes it can be hosting to build relationships with prospects and customers, for example, Anniversary events calling the regular customers for the event. Or as an exhibition introducing your visitors to your company’s offerings of products and services.
B2B Event Marketing Importance
No matter what era we will live in, how to advance our technology would be, event marketing and trade shows are growing still strongly. As per the statistics reports, 92% of attendees attend events to find out a new product, and 77% of attendees found at least one new supplier from the last event they attended. These stats show the power of event promotions. Event marketing is claimed to be the single most effective marketing channel by 31% of marketers
5 reasons highlighting the importance of B2B event marketing:
Organizing an event can make things hectic and fast-paced as the prospective leads attendees needs to be impressed within a limited time while getting their contact details and a detailed overview of your product.
To do all this, marketers need speed and technological advancement to get things done for the long term. For instance, business card scanning apps can be used that would make your work of getting details quite easy.
- Constructing personal connection
Lots of businesses and clients have different choices that need to get attention and for that events are a great way to get face time with prospects showcasing your products. These events could provide prospective buyers with the available offerings of the organizer company influencing their decision instantly. This would develop an intimate business relationship with the brand that could run long with mutual benefits.
- Extracting feedbacks
Getting real-time feedback has unique and precious insights that other methods may never provide. For any company, feedback is pretty much important given by the customers as it assists the brand in identifying how effectively the product is serving the clients, in what ways it is adding value and what are the limitations, and what improvements are needed to achieve maximum. The feedback from the event attendees makes you understand the change in the strategy and reassessing your position from a market point of view makes you get better and better at what you do.
- Improves brand visibility
The businesses of every industry always say to inform and to stand out, building a lasting brand impression on buyers and spending millions on marketing. Through events, marketing companies can represent themselves to the buyers.
- Understanding competition
The business events are like a platform that gives you access to look at your competitors, what they are up to, what are their pros and cons. How different are their services or products for you etc, etc?
B2B Event Marketing Types
Two types of event marketing for B2B enterprises are :
- Online Events
- Live streamlining of events
The events that focus on streaming events live for the prospective consumers aim to reach the consumers who, though interested in an event but were unable to attend the event physically.
- Webinars
The seminars that are delivered via the web are called miners that can be held in real-time or on-demand that can include discussions, workshops, presentations, or demos related to the products or services offered by the organized firm.
- Virtual events
The virtual events allow the prospective buyers to be a part of a virtual setting, giving the offline event vibe.
- Offline Events
- Exhibition
The exhibitions allow B2B owners to provide hands-on face-to-face demonstrations of their products and services to the prospective buyers, taking feedback along with getting valuable insights into their reactions, Companies taking advantage of opportunities to originate outstanding and interested who are interested in their products and services.
- VIP Dinners
Customer loves attention or individual treatments and warming up your prospective leads through hosting VIP dinners would move them through the sales funnel faster. Doing this stuff like that ensures an intimate experience of having business conversations in a relaxed environment with food and drinks.
- Trade Shows
It is a kind of trade fair or exhibition that brings members together belonging to a particular industry permitting them to display, demonstrate, discuss and promote their exclusive latest products and services. The trade shows give:
- Exhibit space
- Workshops or presentations
- Opportunities to interact with the media
- Networking events
- Private exhibitor events
This type of trade fair potential customers to connect with the respective marketers, reinforcing relationships influencing the networking market.
- Roadshows
The Roadshow events are held on-site in multiple cities with the goals of retaining existing customers, drawing attention, penetrating brand messages, and accessing potential customers in different locations. In simple words, roadshows bring events to the customers rather than making people travel to attend your events. It is like launching events of a music album. For music album launch, the producer actors go to different cities to promote their album so that the viewers who are eventually their customers could know about their new products, the same goes in the B2B marketing.
- Conferences
This happens when the company has become a known brand or achieved a certain level of growth of a larger customer base. Only then an organizing a conference makes sense. This requires big working standards and a big budget as the bigger the event bigger thee that thee the opportunities with bigger gains. The conferences have an excellent source of leads influencing the increment of customer lifetime that indirectly generates more sales.
The characters of conferences that are seen frequently
- Paid events: The attendees have to buy tickets for such conferences.
- Lots of audiences: The conference has hundreds or even thousands of attendees.
- Detailed program schedules: These types of events do not end within 1 or 2 hours it runs for a few days and the detailed itinerary is shared before the events start
The conference marketing is a beneficial investment considering both time and money but if planned carefully, it could be the best move to expand the exposure to the events boosting the registration and sponsorship sales.
Conclusion
The face-to-face business marketing with your customers is always good but in the time when things are not in control and pandemic has brought digital in our routes of marketing then adjusting your strategies as per the requirement is better than waiting for the things to come back to normal.
The b2b event marketing has been considered as an opportunity for interpersonal communication as events are an intensive resource but only be worthwhile if it has crystalized event marketing strategy.
Event marketing is indispensable but companies still get in trouble and for that our company guides what to do and what should be your first concern. Our company First Connect Digital is an experienced company in organizing the events for our valuable clients confirming to drive most of it from the single event.
