In an increasingly digital world, face-to-face still matters. In-person events are ranked as one of the most effective marketing tactics and companies are spending the majority of their marketing budgets on them.
But for events to stay effective, strategies need to change. To follow in the footsteps of Account-based Marketing, B2B events have to shift focus away from broad lead generation toward targeted pipeline creation and acceleration.
Revenue Event Marketing is a new approach that focuses on helping businesses build and accelerate pipeline to drive revenue through in-person events.
2. Agenda
1. How we got here
2. Why events still matter
3. The Revenue Event Marketing movement
4. Join the conversation: #EventHacker
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3. Evolution of Sales: Hunting vs. Hunted
Inside sales growing 3X faster than outside
33% trust brands, 92% trust recommendations
>70% of the way through the sales process
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4. Evolution of Marketing: Art vs. Science
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88% of B2B Marketers measure and optimize
Data-driven insights increase performance 10-30%
Personalized experiences increase sales 19%
5. Adapting Events To A Data-Driven World
Find your targets Engage your targets
LOTS OF MORE EFFICIENT WAYS TO FIND LEADS…
7. Why Face-To-Face Matters
>50% of the average company’s
current customers encountered
them at an event during their
buying journey.
– Event Engagement: Accelerating the Customer
Lifecycle, Demand Metric 7
“The psychology of face-to-face
interactions are real drivers of
conversion. Telling stories actually
activates the parts of the brain
where we make buying decisions.”
– Gerard Zaltman, “How Customers Think: Essential
Insights into the Mind of the Market”
8. Events = Real Investment
• US Marketers spent over $100B on events in 2015—
the highest spend category in marketing*
• 64% of marketers spend over 20% of their budget on
events
8Source: Demand Metric
10. The Shift From Big To Small
Smaller, more intimate events
are more targeted and
personalized
10Source: CMO Council
40% shifting from
large sponsored events to
more targeted gatherings
44% are choosing to
host their own customer-
centric events
“Micro events” at conferences to
leverage the captive audience
11. Top 5 Tactics Used by Account-Based Marketers
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“As with so many aspects of ABM, sales and marketing must work together to draw up the list of
event invitees. The invitation itself then comes from whoever is best-placed to make that
approach. When a relationship is already there, it will be sales. When not, marketing.”
- Engagio, “The Clear & Complete Guide to Account Based Marketing”
13. The Definition
rev·e·nue e·vent mar·ket·ing ˈre-və-
ˌnü i-ˈvent ˈmär-kə-tiŋ noun A new
approach to events that empowers
businesses to accelerate pipeline and
drive more revenue through their events.
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14. The Three Pillars of REM
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In Revenue Event Marketing, the emphasis is on focusing your event investment to:
23. 23
Every team member should have a personal plan of action for the event
CUSTOMER OPP
PROSPECT CEO
LEAD
CPO
Engagement Mapping Plan
24. A Role For Advocacy
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When events leverage customer advocacy and references, they combine the three
most influential B2B marketing activities into one powerful touch-point
"Buyers want to see how their peers are
solving the same challenges they face.
That’s where your advocates come in.
Advocates provide much needed credibility
and social proof to strategic marketing
initiatives in a way that conference booths,
flyers and ads cannot, no matter how large
the budget."
- Mark Organ Founder and CEO of Influitive
25. 25
Capture The Conversation
Matt knows Fred Williams.
He wants to see a demo of the new mobile
app.
Out till Tuesday – Needs solution for first
customer event in 3 mos.
27. Timely, Contextual Follow-Up
Lead follow-up within 1 hour converts
7Xbetter than after 1 hour
>60X better than after 24 hours
27Source: Harvard Business Review Study, 2011
28. An Effective Follow-up Strategy
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General follow-up
• Marketing outreach to provide
highlights and recap the event
• Make the people who couldn’t
attend aware of what they missed
Personalized follow-up
• Sales follows up to continue the
conversation that started at the event
• Real-time sync with Salesforce allows
timely and contextual follow-up
31. Let’s Talk Again
We’d love to talk more about how Revenue Event Marketing can find a
home at your organization. We’re always here to help and you can
reach us in any way below that suits your style.
PHONE: 866 750 2673
EMAIL: hello@attend.com
TWITTER: @AttendInc
FACE-TO-FACE: 10 Post Office Square
31
http://www.insidesales.com/insider/sales-metrics/16-sales-statistics/
Businesses that personalize web experiences see an average 19% increase in sales. (MarketingProfs)
https://hbr.org/2013/03/advertising-analytics-20
http://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/measuring-marketing-mckinsey-global-survey-results
Identify cities with a high volume of target accounts, opportunities, and customers. Mix happy customers with prospects and executives with suspects.
1. Engaged lead to prospect
2. Active opportunity to customer
3. Current customer to advocate
Mind shift from siloed functions to “revenue team”
While Marketing’s primary job is to host the event, it’s really the Sales team’s job to drive people there and engage with attendees
We’ve all experienced this: the team has a ton of great conversations at an event, joins in on the celebration that night, and then wakes up the next morning with no recollection of what they talked about with attendees. When this happens, you may as well be starting from scratch. Context is king when it comes to having productive follow-up conversations.
While 50% of a company’s current customers encountered them at an event during their buying journey, only 8% of Marketing execs say their companies are highly proficient at developing relationships, closing deals, and acquiring customer insights at events.
Consider all of the context you have on your prospects and customers in your key business systems. That data took countless time, money, and resources to compile. With events being the biggest spend in your marketing budget, not giving your team an easy way to access that data onsite is a missed opportunity. Putting that information in the hands of your Sales team enables more productive and well-informed conversations at events. Insight into an attendee’s recent interactions, their stage in buying cycle, or their renewal date are all good examples. Having the right info on attendees can make or break your chance to leave a great impression.
Strategically planning introductions between attendees is another best practice that goes a long way. For example, connecting a customer advocate with a prospect is a great way to accelerate the sales cycle. Additionally, an introduction to a member of your executive team often gives people a higher level of confidence in your business or a the effort you put into getting people to your event, one missed conversation could result in a missed opportunity and, subsequently, missed revenue. A single missed conversation can have a meaningful impact on your business. Factor in a handful of missed opportunities per event multiplied by your entire event schedule and you’re ta in about a significant amount of business.
In general, B2B leads receive staggeringly slow responses from sales teams. Consider this: a Harvard Business Review lead response study of 2,241 US companies found that:
The average first response time of B2B companies to their leads was 42 hours
Only 37% of companies responded to their leads within an hour
16% of companies responded within one to 24 hours
24% of companies took more than 24 hours
23% of the companies never responded at all
This is both a sobering statistic of businesses failing to make lead response a priority, and also a brilliant opportunity for responsive sales teams willing to engage leads before their competition calls them back.
Firms that tried to contact potential customers within an hour of receiving a query were nearly seven times as likely to qualify the lead (which we defined as having a meaningful conversation with a key decision maker) as those that tried to contact the customer even an hour later—and more than 60 times as likely as companies that waited 24 hours or longer.
https://hbr.org/2011/03/the-short-life-of-online-sales-leads/ar/1
What does effective follow-up look like?
Marketing follow-up
Personalized Sales follow-up
Long-tail on event measurement
Campaign