One thing is for sure. The strategic marketing of a product or service is necessary for its growth and sustainability long-term. But let’s talk about event marketing and is relation with B2B.
Going to events is an interesting alternative to traditional or digital marketing techniques and campaigns. They make perfect, logical sense. You are attending a hub of business, as closely related to people who are interested in your services (ideal customer profile) as possible, and have a platform to engage, discuss, educate and learn. It really is a huge opportunity to take your business into a new direction through contacts, funding, lead generation, sign ups, brand awareness. There is massive scope to attach some serious positive connotations to your business, if you do it correctly.
Yes, there are a lot of things to consider. The logistics, the preparation, the organization, the resources and time. But if you can find the right balance then there is a genuine chance that by going to an event you will leave with a positive impact.
Return on event investment is also a crucial factor when considering your attendance and approach. Are you going to have the potential to draw enough business from the event which not only covers the costs of going, but gives a profitable route going forward? And the value of an event can’t be quantified by the activity on the day. It is about the process before, during and very much so, after the event. The traffic, the follow up and the conversions. How are you going to track this to show that it was the right business decision?
Because not every business, as attractive as events seem, is the most ideal solution to be doing, depending on the circumstances and tools you have available.
First, it is important to know how B2B businesses work:
Nature of B2B Businesses
B2B stands for business – business dealings. As one business is trying to get into good graces of another business, in order to get a deal, the other business needs to make sure it is dealing with the right party.
Unlike B2C, where you are dealing with public as client, you need to present a collection of rational arguments, as to why the other party should deal with you. The B2B dealings are more likely to get weightage upon your past experiences, achievements, sales and your nature of growth. So you might considering playing your emotional card a little low.
We are not saying it is completely neglected, but it won’t have as much effect as that of factual based event marketing.
What Makes Event Marketing Valuable?
Although, it is important how much experience and capital a company has accumulated over the course of time but ultimately, it is the vision which becomes the primary factor of growth of a company.
To know a company’s vision, people need to know the brain and working force of an operation.
- How does a company work?
- How is the company sustaining itself?
- What does a company bring to the table?
The thing is that people can copy grade ‘A’ vocabulary off the internet and make websites using already available theme designs but they can never copy someone’s personality and a company’s think tank.
This makes event marketing important in terms of introducing parties and creating a hype in front of the world, which gives rise to mutual interests between potential business parties.
Event marketing concerns about the events, which offers direct contact with representatives of a brand. One of the practical applications of event marketing is hitting digital marketing and going live on various social media channels. Hype is proportional to people talking about your company and that happens when successful event marketing takes place.
Consider this, the more hype you create, the more your company will get notice. In the end, B2B companies are run by people and people have emotions. Who knows, you might appeal to a CEO of a multinational empire, who happens to casually surf the internet, founds the live video of your event and calls you in for product demonstration.
A good businessman knows that every opportunity can be converted to make money. Through event marketing, more and more people will come to know about the two companies. If they take a good impression, they will start following you on social media and aiding you in sales by making purchases of your products.
If you have a plan to later launch in a specific category, your existing live event can become an excellent source of lead generation, in terms of list building and email acquisition.