In the last 18 months, event marketing faced major changes. The complete shutdown of trade shows and events (a staple of B2B marketing budgets) left companies scrambling to find new methods in order to drive awareness and connect with clients.
Luckily, utilizing a virtual event strategy can produce a number of unexpected benefits. Even though virtual events are more convenient and accessible, marketers believe there are lessons to share from these new experiences. Here’s how forward-thinking marketers reaped the benefits of virtual events that will follow them for years to come.
Building Online Communities
In-person events, such as trade shows, have been a consistent method of connecting with customers directly. Throughout the pandemic, virtual events provided a much needed opportunity to continue live interactions with potential clients, and allowed them to build a community.
During the isolation we encountered last year, creating a sense of community was one of the most important things a brand could do. The sense of connection helps build stronger relationships and creates true advocates for the brand. It is imperative to build a voice and stay connected with your clients, especially in a time of change.
Allison Kavanaugh, former VP of marketing at EHR provider Azalea Health and a B2B marketing professional, found success in peer-to-peer webinars where clients lead the session. This method provided valuable insight for marketing strategies and material for ongoing campaigns. Kavanaugh claimed these webinar events delivered some of the most unanticipated value and lasting returns.
The Benefits of Virtual Conferences
Trade shows have always been an important part of B2B marketing. In 2017, 40% of B2B marketing budgets went to exhibiting at trade shows. In the beginning of the pandemic, it was unclear if virtual events would provide the same value as an in-person trade show, but after a year of cancelled events, some companies believed virtual events were more effective than traditional ones.
When it comes to online events, most companies are experiencing large attendance and engagement rates, and the best part is, these events are one-tenth the cost and take six months fewer to plan.
Another benefit of online events include their impact on smaller companies. Startups and small companies found these conferences not only saved time and money but leveled the playing field with more established competition. During in-person events, it is very easy to see how your company compares to competitors around you, but online your company can blend right in with the Googles of the world.
The Future of In-Person Events
As the pandemic is winding down, in-person trade shows are slowly coming back, but many marketers are reconsidering their attendance.
Many companies have questioned whether events are still worth the investment. The pandemic forced companies to focus on social media and search marketing, and some do not believe it is worth the time or money to attend in-person events anymore.
Other companies argue that leads generated at trade shows are higher quality than ones generated through paid advertising. These companies suggest only participating in events that will provide real meaning and benefit for your company. Others suggest there is no substitute for in-person networking, and after the isolation we faced last year, people are ready to get back to business as usual.
Despite these opinions, virtual events are here to stay. While live events will always have their place in B2B marketing, it is important to make the choices that are right for your company’s future.