Published June 15, 2021
5 Reasons to Invest in B2B events
Before the pandemic, 76% of B2B marketers reported that events were their most successful engagement tactic when it came to finding new business. Although physical events have been put on hold, many marketers have reported how virtual events have stepped up and helped them execute their event marketing strategy with great success. With the evolution of B2B events the past year, post pandemic, the popularity and success of this marketing strategy is likely to continue and grow with the rise of virtual events paired with desire of physical and hybrid events to return.
However, if you’re part of a marketing team you know how hard it can be to justify a budget when it comes to growth, advertising and lead sourcing. So, if you’re organising a B2B event you need to know where your investment is going. Here are 5 reasons why you and your business should invest in B2B events.
You can pick an event model that suits you
Every business is going to have different goals and with that comes different approaches to getting the customers or deals you want. Gone are the days of a one size fits all approach to hosting events. There are now a multitude of event models to choose from to generate the results that you want. Whether it be a targeted industry conference, an intimate luxury networking dinner or a Virtual Roundtable you’re guaranteed to find the right format for your business goals.
Hosting a B2B event can provide you with a multitude of leads that you wouldn’t get otherwise. 68% of marketers utilise B2B events for lead generation initiatives, which in turn can give a fantastic ROI. While B2B Events can provide you with these leads it’s important to know what to do with them. Understanding your target audience, engaging with attendees and having a follow up plan are all vital in ensuring your leads turn into deals, but with the target audience at your fingertips you can be confident that your efforts are targeted and more likely to get you results.
Putting your brand, product or service in front of the right people
Many B2B events will be targeted at a specific audience or industry meaning you can theoretically create a room or audience filled with your target customers or clients. No brainer, right? The fact is, a conference, dinner or Virtual Roundtable can be tailored to your desired audience and people simply won’t attend events that they’re not interested in. This means that you can curate an audience that will be warm to your area of expertise, your product or your service.
They boost your brand’s PR presence
It has been reported that professionals who attend events hosted or sponsored by a brand ultimately favour them over their competitors. It’s amazing what this kind of exposure can do. B2B events are also a great way to create content for your broader marketing strategy. Whether that be social media posts, videos or podcasts of speaker workshops, interviews with attendees, all of these can contribute to strong content for your business throughout the year. You can also encourage your attendees to share their experiences on social media, use specific hashtags and connect with other attendees on LinkedIn. If your brand or business is seen on social media hosting an exciting event with interesting people this will attract even more people to your events and in turn your business itself.
A more personal approach
With email becoming a preferred and, sometimes, more convenient communication method for a lot of people it can be easy to fall into the trap of disregarding face to face meetings. However, face to face conversations with your prospective clients and customers are still so powerful and often can be the difference between landing a deal and losing an opportunity- and B2B events are a perfect way to make those meetings happen. Elaine Meyers, Managing Director of J.P Morgan, stated that despite all the advancements of technology CEOs and business leaders still rely on face to face conversations to make deals happen.
B2B events allow you to build relationships with people far quicker than digital channels as you can skip the first few stages of the early marketing funnel. The ability to be in front of your target accounts, whether this be at a physical event or at a Virtual Roundtable, gives you an advantage and makes you more memorable.
So, if these reasons align with your marketing strategy, get in touch with Inspired Business Media today to see how we can help you create the B2B event that’s right for your business and your goals.