Outbound and Event Marketing Masterclass
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Marketing to the customer is just as important as marketing to a stranger To reduce the average digital event drop out (avg 30%) - create connection with your audience Track meaningful conversations at live-events, don't just limit ROI to booth scans Segment your follow-ups to events, VIP prospects should get 1:1 follow ups, even if they didn't show. Formalise a follow-up plan and hold people accountable for their leads At Tradeshows make sure your teams are using the event networking apps such as Brello, to lock in meetings before the day
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Outbound and Event Marketing Masterclass
- 1. & In This Together Series “Outbound and Event Marketing: Tactics to securing ROI on digital and in-person events.” Stefano Iacono - Head of Demand Generation at Modulr hello@salesimpactacademy.co.uk Marketing Teams Webinar will be live at 4pm UK Time presents
- 3. Why is this topic still relevant? In the B2B setting, events help generate the most leads. 54% of marketers expect to increase the number of events they run per year Forty-five percent of B2B buyers find event materials, including presentations, keynotes, and booth materials to be the second most important source of content. B2B marketers consider events as a top-three demand generation tactic in consideration, loyalty and advocacy stages. 83% of B2B marketers are heavily invested in events. Events occupy 14% of budgets, which is the largest share of B2B marketers’ budgets. Sources: • Forrester • Forbes • American Express 2020 Global Meetings Forecast • Marketing Charts • Sensible Marketing
- 4. Today’s session Events and the marketing funnel Types of events and success metrics Digital events – tactics for success Tradeshows – tactics for success Reporting on ROI
- 6. Evolution of marketing and the marketing funnel Awareness Consideration Conversion Decision Top of Funnel Middle of Funnel Bottom of Funnel Awareness Interest Decision Action
- 7. Events and the marketing funnel Awareness Consideration Conversion Loyalty/Advocacy
- 9. What types of events do you have in your marketing mix?
- 10. Tradeshows (Exhibiting) Tradeshows (Attending) Brand Summits Hosted Dinners/Small Events Hosted Rewards / Entertainment Hosted Small Webinar Hosted Large Webinar Types of events and success metrics Awareness ConversionConsideration Loyalty/Advocacy Booth Scans Meaningful Convo’s Pipeline Sourced Pipeline Influence Meaningful Convo’s Pipeline Sourced Registrations Drop Out Rate Meaningful Convo’s Pipeline Sourced Pipeline Influence Speed to Close Customer Attendees Pipeline Influence Reg/Drop Out Pipeline Sourced Pipeline Influence Speed to close Pipeline Influence Speed to Close Renewals / Referrals Pipeline Influence Reg/Drop Out Pipeline Sourced Pipeline Influenced Speed to close Customer Attendees Pipeline Influence Customer Attendees Pipeline Influence Impact on Inbound Registrations/Drop Pipeline Sourced Pipeline Influence
- 11. Tactics for event success Digital events
- 12. Digital Events : Picking the right format Hosted Small Webinar Hosted Large Webinar ConversionConsideration Loyalty/AdvocacyAwareness Reg/Drop Out Pipeline Sourced Pipeline Influenced Speed to close Customer Attendees Pipeline Influence Impact on Inbound Registrations/Drop Pipeline Sourced Pipeline Influence Know what you’re trying to achieve, before you start planning
- 13. Digital Events : Registrations Hosted Small Webinar Hosted Large Webinar ConversionConsideration Loyalty/AdvocacyAwareness Reg/Drop Out Pipeline Sourced Pipeline Influenced Speed to close Customer Attendees Pipeline Influence Impact on Inbound Registrations/Drop Pipeline Sourced Pipeline Influence Small Webinar • Landing page for personal 1:1 sends • Campaign in a box for : Large Webinar • Akin to an inbound campaign with Landing Page and advertising / social • Seek partnerships both for speakers and for sharing the registration URL, trade bodies, non-competitors • Prepare a campaign-in-a-box for sales teams • Sales pipeline (open deals) • VIP prospects (new deals) • Customers (won deals)
- 14. Digital Events : Securing attendance Hosted Small Webinar Hosted Large Webinar ConversionConsideration Loyalty/AdvocacyAwareness Reg/Drop Out Pipeline Sourced Pipeline Influenced Speed to close Customer Attendees Pipeline Influence Impact on Inbound Registrations/Drop Pipeline Sourced Pipeline Influence Quick tactics you can deploy • Scarcity – don’t confirm straight away with auto-responders. Let them know it’s popular • Send calendar invites, resend them if they don’t get accepted • Non-accepted calendar invites from VIP attendees can be forwarded to sales to nurture delicately Creating a connection to the event • Call VIP attendees, ask them what they want to get out of the event • Personal email nurturing from sales/inside sales • Balanced marketing nurtures (be aware of 1:1 activity)
- 15. Digital Events : Post-event Hosted Small Webinar Hosted Large Webinar ConversionConsideration Loyalty/AdvocacyAwareness Reg/Drop Out Pipeline Sourced Pipeline Influenced Speed to close Customer Attendees Pipeline Influence Impact on Inbound Registrations/Drop Pipeline Sourced Pipeline Influence Sales expectations • Rate your leads and agree who owns the follow-ups • Run a 4-week wash-up clinic to ensure this is being done • Ensure any new opportunities are properly tagged for reporting Marketing • For larger events you could create a bespoke lead nurture email track • Personal follow-ups to VIPs from sales/inside sales • “Feedback calls” can be a good tactic for event ROI and genuinely helpful • Provide follow-up templates
- 17. Tradeshows (Exhibiting) Trade-shows : Pre-event & on-the-day tactics ConversionConsideration Loyalty/Advocacy Booth Scans Meaningful Convo’s Pipeline Sourced Pipeline Influence Driving booth traffic • Friendly and approachable • Ensure booth hosts informed • Have an offer, preferably something unique • Who to expect (potential personas) • What is expected of them (scans/meaningful convos) Awareness Pre-booking meetings • Secure your sources of data • Website for exhibitors • Apps for attendees • Lists from event organisers • Social media • Approach • Inside Sales or Appointment Setting • Ask for referrals • Email
- 18. Tradeshows (Exhibiting) Trade-shows : Pre-event outbound tactics ConversionConsideration Loyalty/Advocacy Booth Scans Meaningful Convo’s Pipeline Sourced Pipeline Influence Awareness Pre-booking meetings • Sources of data • Website for event • Apps for attendees • Lists from event organisers • Social media • Approach • Inside Sales or Appointment Setting • Email • Ask for referrals • Nurturing
- 19. Tradeshows (Exhibiting) Trade-shows : Being booth ready ConversionConsideration Loyalty/Advocacy Booth Scans Meaningful Convo’s Pipeline Sourced Pipeline Influence Driving booth traffic • Ensure booth hosts informed • Have an offer, preferably something unique, that makes you stand out • Have the best swag, everyone has pens! • Who to expect (potential personas) • What is expected of them (scans/meaningful convos) • Being friendly and approachable Awareness
- 20. Tradeshows (Exhibiting) Trade-shows : On the day, recording conversations ConversionConsideration Loyalty/Advocacy Booth Scans Meaningful Convo’s Pipeline Sourced Pipeline Influence Meaningful Conversations Conversations held with people on the day. • By anyone • Rated by business impact and next step • Qualify out (no follow up) • Potential early stage prospect (marketing nurture) • Prospect in buying cycle (1:1 follow up) • VIP conversation (VIP follow up) • Existing prospect conversation (sales follow up?) • Existing customer conversation (CS follow up?) • Pre-booked meeting (follow up by meeting holder) Awareness
- 21. Tradeshows (Exhibiting) Trade-shows : Post-event follow ups ConversionConsideration Loyalty/Advocacy Booth Scans Meaningful Convo’s Pipeline Sourced Pipeline Influence Awareness Follow-ups • VIP Leads should be followed up 1:1 • All booth scans (except qualify outs) should be sent a thank you email • Point prospects towards newsletter-sign ups or relevant content. • Aim is to earn consent to contact
- 22. Tradeshows (Exhibiting) Trade-shows : Post-event follow ups ConversionConsideration Loyalty/Advocacy Booth Scans Meaningful Convo’s Pipeline Sourced Pipeline Influence Awareness Meaningful Conversations These will become your focus for follow-ups and allow you to segment responsibilities. Run a weekly catch up on the status of these for 4 week. Over 80% of Tradeshow leads don’t get followed up effectively. 60% don’t get followed up at all! [ Ask ] || [Chase] || [Follow Up] • Qualify out (no follow up) • Potential early stage prospect (marketing nurture) • Prospect in buying cycle (1:1 follow up) • VIP conversation (VIP follow up) • Existing prospect conversation (sales follow up?) • Existing customer conversation (CS follow up?) • Pre-booked meeting (follow up by meeting holder)
- 23. Reporting on ROI Sourced and Influenced Pipeline
- 24. All events : Reporting on revenue Sourced Pipeline / Revenue Influenced Pipeline / Revenue • Measures opportunities uncovered AT or BECAUSE OF an event • Most recent conversion touch point • Measured using CRM • Measures influence across entire pipeline • Includes Sourced Pipeline / Revenue • Includes existing/future opportunities • Measured using CRM • Custom properties • Salesforce • Naming conventions • Custom lists • Salesforce • Manually – CRM exports
Editor's Notes
- Me – Head of Demand Generation at Modulr. Modulr is a B2B business that provides the payments technology behind some of the UKs most recognisable brands. We’re an alternative to traditional banks and help businesses automate and simplify their payments infrastructure. As a B2B business event marketing is a core tenant of our marketing mix. Personally I have been in-or-around event marketing for the last 6 years. Initially I came into marketing from a sales background so my lens on ROI and revenue tends to be focused on the metrics which indicate effective handovers from marketing to sales. The bulk of my experience is in the mid-market – to enterprise space.
- Events have always been part of our marketing culture, from B2C to B2B we’ve been running, attending, and creating meaningful relationships at events since before the word “event marketing” even existed. Very popular, and in the B2B space especially has proven time and time again to be one of the top marketing channels. Much like international air-travel, event marketing has taken a hit. But in the same way that people will need to fly again at some point in the future, events are so intrinsically woven into our buying cycles that they’re unlikely to disappear. Not just for marketers, but for buyers also.
- Generally we’re going to start at the strategic level, what is the marketing funnel and where do events sit in it Then we’ll drop down a layer to understand the types of metrics we should be looking at for effective reporting of ROI And finally we’ll get down into the tactics of how to secure those metrics, pre post and during an event. I’m hoping from today you’ll leave with three things: 1 – How to impress different stakeholders with the most relevant data that’s interesting for them 2 – How to integrate events into your marketing funnel 3 -
- 1 – Traditional model which takes unknown individuals from the top of the funnel all the way through several stages and turns them into customers. What names have people heard these stages of the funnel called? CLICK to reveal potential names for funnel At this stage I also wanted to mention the evolution of marketing. Traditionally marketing was only really called upon to generate awareness at the top-of-the-funnel, over time however marketing matured as an industry = now expected (rightly so) to provide value across the entire buying cycle. The “marketing funnel” expanding to include up to point of sale. As business models continued to evolve || subscription models became more prevalent || a new funnel emerged – as popularised by the book “sales as a science”. Anyone have an idea on what this might be? CLICK TWICE to reveal bowtie That’s right the Bowtie Funnel – for most businesses customer satisfaction has always been an agenda item but with the advent of recurring revenues the role of the customer, and in turn marketing TO the customer became more relevant than ever. So – to conclude. It’s very confusing. There are many models, many variants on the same funnel, with different names and different imagery CLICK TO reveal multiple types of funnel [quickly mention hubspot and meltwater] Despite the lack of agreement on which is the best way to describe the funnel, one thing remains true: Marketing must now consider everyone from the stranger who is unaware they have a problem and has never heard of the brand, through to the customer who is considering renewing their contract. CLICK to move to slide
- Despite the saturation in images of the funnel, I personally find it useful to have a funnel diagram to help understand how events fit into this mix. What all the previous models have in common is that they represent a journey for both customers and prospects, anyone can go in the top as a complete stranger to the brand and come out of the bottom as a customer This illustration splits the funnel into 2 Inbound = self-identification as a lead, typically content/SEO Outbound = Interruption marketing where we put ourselves in front of potential customers As you can see, Events sit mostly under outbound marketing but have a definite link into inbound marketing which shouldn’t be ignored. The other thing to note: Events dive right through the funnel from generating awareness through to creating loyalty and advocacy within the customer base. - There ARE other types of marketing disciplines that dive through the funnel, e.g. content marketing, email marketing, but it’s especially important to draw this distinction for events because often the SAME event will be used for different purposes across the funnel. Understanding these nuances is important when preparing for success.
- Now it’s time to consider the various types of events, because ”success” varies depends on the type of event that you’re running. CLICK
- At this stage I’d like to open up to see what types of events people in the audience have in their marketing mix – both now and in non-covid times. If you could “raise a hand“ or enter into the chat. Also if you know (or can hazard a guess) please also let us know at the number of events you participate in or host.
- We heard a few of these mentioned, and there are obviously many more which aren’t on this list, but I find that these are amongst the most common. Here you see them mapped out across the funnel, from awareness through to loyalty/advocacy. One of the most common mistakes I see when reporting on events is a lack of understanding/context for the metrics being used. You will notice that for each stage of the funnel the metrics we consider change, it’s important to understand this because different stakeholders in the business may have different lenses. A marketing director might want to know how many people attended/dropped out, the Sales Director could be very interested in the amount of pipeline an event created, and the sales manager might want to understand how which individual on their team had the most meaningful conversations on the day.
- Digital events are more in the spotlight now than ever. Recently we’ve all seen physical events literally wiped out, at Modulr we pivoted our marketing program to focus on two types of digital events, a larger webinar format and a smaller roundtable style format. Early signs have been very strong with over 300 people registering for our first webinar in less than 3 weeks. Obviously self-isolation may have played a part in this but there were certain tactics we employed to ensure it was a success, both before and after.
- Identify what you’re looking for, is it a big brand event which you’re hoping to use to net multiple leads into your inbound funnel? Are you hoping to create new opportunities? If so, do you have a narrow target list which you’d like to build relationships with or a broad pool of possible customers? Do you want to accelerate the winning of existing opportunities? If so could a digital event help position you as trustworthy brand or foster relationships with the sales team somehow? There’s lots to think about, and I’m not going to dive into each of these individually but what I wanted call out a few points. + Various formats Q&A, with multiple panellists and an anonymous audience Roundtable style, with everyone discussing in a smaller group Presentations, with thought leaders and key takeaways Be creative with your branding – try to pull on hooks that exist in the real world: + a breakfast seminar where you send vouchers for a food app + cocktail drinks where you send everyone a cocktail shaker from amazon + speed networking, where you split everyone into breakout rooms for 5 minutes at a time using functionality in the software
- In terms of driving registrations, the larger webinars are more akin to inbound marketing campaigns. The events we ran were in the top/middle of the funnel, so we were looking to include both brand new prospects and existing early-stage conversations. Paid advertising Organic social media Partnerships for distribution of the registration URL Also help mobilise your internal teams by giving them a campaign in a box. Invite emails, linkedin messages, phone scripts Small webinars are much more personal. The ultimate goal for us with these is to speed up deal cycles and improve win rates, we hope to achieve this in two ways: 1 - showcase Modulr as the expert in the space and a facilitator for the industry 2 – create personal relationships for the sales team Here it is very much about sales enablement and managing the invitations through sales. You should draw up a wish list of people you would like in attendance and run a 4 week program with check-ins to ensure people are being invited.
- Digital events are easy to ignore, they have the highest drop-out rate of all events, lurking near 50% at times. Run through slide. One of the most common omissions is to forget the calendar invitation N.B. delicate nurture of “at-risk” attendees doesn’t need to be “I saw you didn’t accept – it can be more nuanced. Perhaps you ask them why they registered in the first place as we want to ensure the content is well curated. Make them feel part of it”
- Run through slide. A lot of these tactics can be applied to live events too, especially the tagging of event leads for reporting. I’ll go into reporting in more detail later.
- As I’m sure you’re all aware, a successful event starts months before an event is held. Aside from the heavy logistical efforts required, it involves a team of people and can pull on elements of brand marketing, content marketing, outbound marketing, customer marketing and a host of others. It’s important to work with the end in mind. Know which metrics you want to track and then think of the ways in which you’re going to deliver on them.
- There is a huge amount of work that goes into event planning and execution, exhibiting at a trade-show is one of the most logistically challenging projects an event marketer will undertake. Today I want to focus specifically on two aspects which play a significant role in delivering on a tradeshow’s ROI but can sometimes feel like they’re outside our influence as marketers. 1 ) Pre-booking meetings – this can be used whether you’re exhibiting or merely attending 2) Driving booth traffic on the day – this requires some pre-planning How many people here try to pre-book tradeshow meetings? How?
- There are many ways people do this but generally speaking you need to know who you want to reach out to and how you’re going to do it. For the who: lot’s of sources Website – exhibitors, speakers, attendees Use freelancer networks like Upwork or Fiverr to find cheap support in scraping website for this sort of infomration Apps – huge one, if there’s an app you should 100% be setting minimum number of meetings expected to be pre-booked. If you have the choice between two events, one with an app and one without – and there are no other mitigating circumstances - I would always choose the one with the app. Ask the organisers – sometimes get randomised lists but will at least have companies on there Explore previous hashtags and socials. For the how: Team who can do this? Someone in the marketing team or even a speciailised unit like inside sales? If not, could you send an email from your sales team have them follow up? Typically – can be easier to identify company names rather than attendees. So messaging for emails should be more akin to asking for referrals to attendees rather than making assumptions Nurturing – importance of reminder emails (have the salespeople they’re meeting send calendar invites – it’s surprising how often this is forgotten) The same tactics as for digital event. As an aside – you can run this same tactic for trade-shows your attending but not exhibiting. You could provide assistance and budgetary support to sales on the condition they prospect and record meetings.
- Pre-event and on the day huddle Everyone needs to know what’s expected of them and who to expect What are the various personas we might see, whats the pitch? Your offer could be anything, a competition, give-away, swag bag. Make it unique, and make it draw attention. The best ones draw traffic and generate genuine opportunities for conversation. Promote through social media, if you have winners ask them to share the post, generate a buzz around your stand that is sure to drive an audience.
- Booth scans are typically the indicator used to show reach at events, unfortunately they can be impacted by many things such as booth location and audience quality. At one extreme you may end up in a poorly trafficked corner with little footfall. On the other you may end up near the front door of a free to attend tradeshow nextdoor to a business university. There can be a conundrum – do you scan every lead, even the poor quality ones? If so, how do you follow up? Personally I think it’s fine to scan every lead, as long as you segment them afterwards. As this can be quite tricky to do in practice, it can sometimes be easier to limit your scans to decent prospects. So, due to the potential issues with lead quality from the booth-scanner, I believe there should be another mechanism to collate information on all important discussions being held at events. Typically it is these discussions that hold the real value. These conversations could be: Informal chats at the booth, A pre-booked meeting which led to an in depth conversation about a new product A discussion between your CEO and a new prospect in the VIP area, Perhaps the sales team walked the floor, did they get referrals to specific individuals at target businesses? Did a customer pop by and say hello, what did they say? Most businesses have no way of tracking these at events. I believe therefore it’s useful to have a separate way of record these. CLICK TO REVEAL I would recommend setting up a form on something like Microsoft Forms, or Google Forms, or whatever other lead capture device you have. It need only be a simple form something like, “prospect name and company”, “name of the person submitting”, “notes and next steps” and “rating”. You can use the rating system shown here to make follow-ups super simple and clear, you may also be able to tie some of these to your wider marketing metrics. For example, a prospect in a buying cycle could be classified as an MQL. In advance of the day, and on the day, and throughout the day, send the link to your team so they can access the form on their mobiles from wherever they are at the event. I also find it’s useful to incentivise these – if you have a sales development team you can create sales competitions for them. For example, if we get 30 meaningful conversations today you get a spot bonus. Encourage them to hunt down each stakeholder from your business, taking their notes down for them. Or failing this, you could do it yourself by organising an hour at the end of the day where everyone inputs their notes. I’ve often found myself at events chasing down senior leadership to extract this data from them whilst its fresh. You can also use the outputs as a metric for success – discussing whether you had “more or less meaningful conversations than last year?” is much more commercially impactful than discussing booth scans only. C:LICK – to discuss marketing follow ups
- Post event is crucial. I mentioned the connection between events and inbound marketing, typically it’s much easier to spot for digital or hosted events but if done correctly, it’s at the follow-up stage that your tradeshow leads have the opportunity to enter your inbound lead funnel. Because of GDPR you’re not permitted to automatically add event leads into your lead nurturing funnels, newsletter lists or other long term marketing contact. Generally speaking however it is often permissible to send a thank you email (but please check with your legal teams first). Use this opportunity to push all the lead scans toward a lead-magnet. This should be a hyper relevant content asset or offer with a form. Or at the very least to sign up to your newsletter if you have one. Depending on the volume of leads you could event segment your thank-you emails and have multiple offers for different personas. [[PAUSE]] So you’ve done the initial marketing follow-up, sales have the list of meaningful conversations, and you’re done and on to the next one right? Wrong! The fun has only just begun. CLICK
- According to Forbes over 80% of tradeshow leads don’t get followed up effectively, forrester even forecasts that 60% don’t get followed up at all! And that’s your ever-so important ROI being left on the table. As you can probably tell, on event day I’m an advocate for being explicit about meaningful conversations, including the senior leadership and on-the-floor salespeople. Three step approach: 1 – Ask them. In the briefings leading up to the event, during the event-day huddle, let them know why this is important 2 - Chase them throughout the day. Remind them this is what the event is measured on. 3 – Follow-up – export all the data from your forms, have a wash up within a day of the event to collate any other names/conversations that were missed. During this follow up meeting agree the next steps and who owns them. This should be simple if you used the rating system previously mentioned. Repeat this meeting every week for 4 weeks until every contact has been followed up . If done properly this should become the norm – if you go to an event you submit meaningful conversations and there’s an expectation you will follow up. This can be done for events which you’re not even exhibiting at – you could task salespeople with recording a minimum number of conversations if they want to attend expensive events. TALK ABOUT ATTENDINg TRADESHOWS Why is it so important everyone follows up? Well for most businesses it’s the revenue number that counts – you could meet 100 perfect buyers but if no one follows up - the conversion rate is likely to be dismal. So what happens after this? You’re at the end of your 4 weeks follow-up period and it’s time to report back on ROI. This can be quite tricky to discuss : Give example of different conversations happening at an event 2 conversations with brand new prospects previously unknown to the brand 1 conversation with the CFO from a company who has already received a proposal and is attending at the invite of a salesperson How do you measure each of these beyond a meaningful conversation?
- This is where reporting comes in. The companies I’ve worked for in the SaaS space have tracked the metrics of “sourced”, And “influenced” revenue – an of course the assumption here is that you are tracking your sales pipeline in a CRM. Let’s revisit my previous example, let’s say the 2 new leads turn into opportunities for the business, each being worth £20,000, that’s £40,000 in potential new business. That’s what we refer to as “sourced pipeline”. Let’s say one of them becomes a customer, and will be worth £20,000 in their first year. That’s what we refer to as “sourced revenue.” In this scenario we would have £40,000 in sourced pipeline and £20,000 in sourced revenue. You can track “event source” quite easily – directly through the CRM (for example I know Salesforce can do it out of the box), add custom properties (like we do at my company, and we use Hubspot), or (if don’t want to get too sophisticated) event name in brackets when creating opportunities in the system. Influence works slightly differently, it measures the impact of ALL conversations that you had at event. Again, let’s revisit that example, we would automatically include the sourced pipeline and revenue numbers, but you would those opportunities which were influenced by the event. So in our example, we recorded a meaningful conversation with the CFO from a company who had already received a proposal. It’s unfair to attribute the source as being the event, but you can still include the value of this opportunity in your influenced number. [[[[[if the proposal was for an opportunity worth £40,000 the influenced pipeline number would be £80,000. If the CFO subsequently became a customer and the company won that £40,000 in new business the influenced revenue number would be £60,000.]]]] This all sounds quite confusing but a lot of software is out there which can help: Again, salesforce has this built in out-of-the-box I believe You can customise other CRMs (like we’ve done with Hubspot) Manually cross-check but not recommended.
- Thanks for listening. Before we move into the Q&A portion of the event I wanted to say that although I’ve run through a couple of different event types there, and there’s been a lot of content, but if you take three things away from today please remember: 1 – Firstly, just a reminder that events don’t operate in a vacuum, ensure you’re integrating into your inbound and outbound marketing efforts. 2 - Know what you are trying to achieve from your events before you plan them. This will help you with creating content but also with articulating the importance of events to your team through relevant metrics. 3 – Hold yourself and your team accountable for follow-ups, there are many ways of making this easier for yourself. By planning ahead you can take the pain out of the post-event follow-ups.