Top 10 Reasons Events Are the Best B2B Marketing Channel in the World
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Marketers spend a lot on events... sometimes as much as 50% of the B2B marketing budget is allocated to live events (sponsored and produced). Events impact every aspect of marketing and they can be the ultimate content distribution engine. See why events really are the best B2B marketing channel in the world!
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Top 10 Reasons Events Are the Best B2B Marketing Channel in the World
- 1. #eventprofsB2B Events: The Best B2B Channel In The World Event Marketing Resources Presenters Jen Hawkins Director of Marketing @jenhawkn Justin Gonzalez MarComs Manager @justinSF DoubleDutch @doubledutch
- 2. #eventprofsB2B We’ll Cover… Marketers Spend a LOT on Events Events Impact Every Aspect of Marketing How to Measure Event Success Events: The Best B2B Channel In The World
- 4. #eventprofsB2B Event Marketing 21% Digital Advertising 13% Content Marketing 12% Website 8% Agency Fees 7% Customer Marketing 6% Traditional Advertising 6% PR 5% Other 22% EVENTS ARE THE LARGEST SPEND Source: Forrester Research, 2014
- 5. #eventprofsB2B 59% of marketers have no way to measure or track the ROI of their events. — HubSpot & Eventbrite State of Event Marketing, 2014
- 7. #eventprofsB2B EVERYTHING THE LIGHT TOUCHES… Marketing Sales Customer Experience Product / Services HR / Recruiting EVENTS
- 8. #eventprofsB2B We’ll Cover… Marketers Spend a LOT on Events Events Impact Every Aspect of Marketing How to Measure Event Success Events: The Best B2B Channel In The World
- 9. #eventprofsB2B EVENTS IMPACT ON MARKETING Branding & Awareness Content & Education Influencer Marketing Lead Generation
- 10. #eventprofsB2B WHY BRAND MATTERS Create a connected brand experience so that each dollar spent halos across all channels. — Forrester, 2014
- 11. #eventprofsB2B CREATE A COHESIVE BRAND EXPERIENCE • Event name • Logos • Collateral • Hashtags • Presentation Templates • Food / Beverage • Sounds / Music • Signage • Lighting • Venue
- 14. #eventprofsB2B EVENTS IMPACT ON MARKETING Branding & Awareness Content & Education Influencer Marketing Lead Generation
- 15. #eventprofsB2B CONTENT IMPACTS THE BUYING CYCLE Buyer’s go through about 57% of the purchasing process before ever talking to sales. — executiveboard.com
- 16. #eventprofsB2B CONTENT IMPACTS PURCHASE DECISIONS 70% of buyers prefer getting to know a company via articles rather than ads. — ContentPlus
- 17. #eventprofsB2B CONTENT IMPACTS SITE TRAFFIC YoY growth in unique site traffic is 7.8x higher for content marketing leaders compared to followers. — Kapost
- 18. #eventprofsB2B CONTENT IMPACTS YOUR BUSINESS Inbound marketing delivers 54% more leads into the funnel than traditional outbound marketing. — Hubspot
- 19. #eventprofsB2B CONTENT IMPACTS ON YOUR BUSINESS YoY growth in marketing’s contribution to revenue is more than 6x higher for those who innovate on content. — Kapost
- 20. #eventprofsB2B PINPOINT THE PERFECT CONTENT Public Votes 30% Advisory Board 40% Staff 30% ex. SXSW Panel Picker
- 21. #eventprofsB2B EVENTS IMPACT ON MARKETING Branding & Awareness Content & Education Influencer Marketing Lead Generation
- 22. #eventprofsB2B THE POWER OF ADVOCACY Brand advocates spend 2x as much and recommend or share 2-4x your typical customer. — IBM
- 23. #eventprofsB2B THE POWER OF ADVOCACY Brand advocates are 50% more likely to create content that influences a purchase. — University of Rhode Island
- 24. #eventprofsB2B TURN CUSTOMERS INTO ADVOCATES Brand Advocates Customers Leads / Prospects
- 25. #eventprofsB2B EVENTS IMPACT ON MARKETING Branding & Awareness Content & Education Influencer Marketing Lead Generation
- 26. #eventprofsB2B LEAD NURTURING IMPACTS SUCCESS Nurtured leads produce, on average, a 20% increase in sales opportunities. — DemandGen Report
- 27. #eventprofsB2B AUTOMATION REDUCES EFFORT Automation drives a 14.5% increase in sales productivity, and a 12.2% reduction in marketing overhead. — Nucleus Research
- 28. #eventprofsB2B PERSONALIZATION DRIVES REVENUE Relevant emails delivered through marketing automation drive 18x more revenue than blasts. — Jupiter Research
- 29. #eventprofsB2B SCORE LEADS BASED ON ACTIVITY
- 30. #eventprofsB2B THINK OUTSIDE OF YOUR WEBSITE
- 31. #eventprofsB2B TELL A STORY WITH DATA
- 34. #eventprofsB2B Engagement Data Personalized Experience Event Success THE ULTIMATE B2B MARKETING CHANNEL
- 35. #eventprofsB2B EVERYTHING THE LIGHT TOUCHES… Marketing Sales Customer Experience Product / Services HR / Recruiting Generate Business Close Business Happy Customers Innovation & Feedback Talent Brand
- 36. #eventprofsB2B Events: The Best B2B Channel In The World Event Marketing Resources Presenters Jen Hawkins Director of Marketing @jenhawkn Justin Gonzalez MarComs Manager @justinSF DoubleDutch @doubledutch
Editor's Notes
- We know that marketers have a lot of expenses. What category of spend do you think marketers spend the MOST money on? Take the poll now! We will reveal the correct answer, based on industry standards in a minute.
- According to the latest research from Forrester, events make up ~20% of the average B2B marketer’s budget. An average marketer spends more on events than they do on digital, which is a common misconception. Content marketing, website costs, traditional ads, they all pale in comparison to what an avg B2B marketer spends on events.
- Despite that large bucket of spend, we have seen that “59% of marketers have no way to measure event ROI.” That is a surprising statistic and, if you are a marketing leader, you might have alarm bells sounding.
- That seems odd, especially given the technology stack that has arisen around other marketing channels. Companies like omniture, radian 6, eloqua, google adwords – have all developed platforms that help marketers execute, measure, and optimize their channels. We noticed that the world of events has very few technoloies that help that execute, measure, and optimize event campaigns. It is estimated that roughly $500B+ is spent per year on events worldwide (based on , Frost & Sullivan, 2013). We know that events make up the largest portion of a B2B marketer’s average budget at nearly 20% of their overall spending. “A Survey of Meeting and Event Planning Professionals and Hotel Operators”, Frost & Sullivan, 2013 “B2B Marketing Budgets Set to Rise 6% in 2014: Forrester”, AdAge, 2014
- Thinking about events as a discrete channel, is actually not the right way to look at them. We believe that when executed correctly, events can add value to everything the light touches. This was inspired by mufasa from the Lion King. But seriously, when you think of events through the lens of different departments, they look like this: a training ground for sales and an oppty to close more biz platform for customer experience to connect with customers, a petrie dish for product development and testing, and a perfect training ground for new employees or a highly competed for reward.
- they are an expression of your brand they are about creating high caliber content they strengthen customer relationships when done right, they are the most effective channel at generating revenue for your business.
- Your brand should be reflected in every element of your events. From registration pages, event signage, presentation templates, lighting and more should look, feel, taste, and sound like your brand. Remember, people are more likely to remember things when their senses are fully engaged.
- HubSpot Inbound “Club Inbound” = Exhibitor Area Lighting, Food, & Music Exhibitor pods were all the same, only differentiating piece was your logo, which helps to even out the exhibitors while still elevating HubSpot as the primary brand Other events were taking place in the convention, but you KNEW you were at a HubSpot event Dreamforce
- That event exemplifies brand. Marc benioff, ceo is actively involved in everything that happens there. Thought leadership opportunity PR, brand awareness, massive massive reach All the details were there and it leaves you with a feeling that SF is a bold brand with insane momentum behind it.
- Events are all about creating high-caliber content to educate and inform attendees (leads/prospects).
- In the last few years, we’ve seen a dramatic shift in the B2B buying persona. Today, content is more important to the customer journey than ever before. People don’t want to be pitched (did they ever?), they want to learn. We talk a lot in marketing about how consumers now research online, purchase offline. How can we ensure that we own the conversation when prospects are researching our products/services? By creating content. The greatest content strategies start with a data-driven approach. How can we find out what our target market is searching for on Google, on social media, or even on our website to create content that converts?
- Make sure your content is answering the questions they have. Drive the conversation that you want to have.
- Companies that can demonstrate this kind of value see better results across the board. When we can give them answers to their questions, we will drive site traffic that converts into leads.
- they are an expression of your brand they are about creating high caliber content they strengthen customer relationships when done right, they are the most effective channel at generating revenue for your business.
- It’s not just about highlighting customer success stories and testimonials, it’s an opportunity to enhance relationships with existing customers. Brand advocates spend 2x as much and recommend or share 2-4x your typical customer. via IBM Peer recommendations are the most trusted source. via Nielsen Brand advocates are 50% more likely to create content that influences a purchase. via University of Rhode Island’s College of Business Administration
- ex. get them onstage talking about their experiences with your product, give them different badge types, offer different session tracks, etc.
- they are an expression of your brand they are about creating high caliber content they strengthen customer relationships when done right, they are the most effective channel at generating revenue for your business.
- Once we get leads to register for the event, how do we continue to nurture them to ensure attendance, and then purchase? Nurture leads post registration, but prior to event (decreased attrition rates from reg to attend) Prime them for the sale onsite where your best sales reps are ready to close
- Marketing automation is the perfect tool for lead nurture.
- Think beyond lead scoring, and consider delivering relevant follow up emails. How do you follow-up with people who attended sessions around a particular topic, like email marketing, versus those who attended sessions on content marketing?
- How do you track existing customers differently than prospects/leads? ex. How do you monitor attendee activity like you do web activity? (lead score image here) Marketing Automation is great, but it falls short once attendees cross through the expo hall doors. Enter DoubleDutch.
- Now that we’ve covered how events can impact every part of the marketing team, let’s talk about how to measure that impact. If you’re going to spend money on events, you should be sure to invest in technology that helps you measure the success (like Google Analytics for your website). We build a mobile app for events and conferences designed purley for attendee engagement. We do this for 2 reasons.. first, attendees love it… second,.. It generates data
- All departments will have access to the data that is generated from your event deployment, if you have the right technology in place. This is something that shows everyone – from the CEO to the event marketing intern – how effective events are to the bottom line of the business.
- Helps all departments better understand the WHO of their business Customer Marketing by generating customer testimonials “X Product Launch will revolutionize the way we measure and convert our customers!” “X Product has helped us monitor anonymous web activity to convert more leads into sales.” Product – identify people that would be open to beta testing, or ones that are influential and therefore deserve a discount or their own referral code Marketing – target messages to those influential people
- Helps all teams better understand the WHAT that is compelling. Product, customer experience
- How do you track existing customers differently than prospects/leads? ex. How do you monitor attendee activity like you do web activity? (lead score image here) Marketing Automation is great, but it falls short once attendees cross through the expo hall doors. Enter DoubleDutch.
- Why events are great for marketers, and the organization as a whole