The New Medium for B2B Marketing Has Been Unearthed
Marketing is a huge challenge for all businesses. That challenge becomes steeper and narrower when we differentiate between consumer and business-to-business (B2B) marketing. The B2B marketing and business development challenge has also become isolated with Covid thrown in for good measure. B2B marketing can be constricted, niche and segmented meaning marketing, commercial and business development teams have less instruments and channels when it comes to converting their business models, solutions and products into direct revenue.
Digital marketing has provided great leverage to B2B strategies which has naturally accelerated, evolved and adapted in response to the pandemic. However, there is one area that digital marketing is unable to replace in its entirety. A substantial element of the business world relies on events. Business events in all formats provide information, networking opportunities and marketing platforms amongst other benefits. The fact events exist within every aspect of business could suggest B2B marketing has boundaries and events provide a crucial expansion of outreach.
The events industry has adapted and taken advantage of existing technology making their products digital. We are seeing exact replicas of events delivered on a virtual basis in a range of formats on a host of platforms. Virtual events have allowed us to remain informed and connected whilst being more accessible, time-efficient and economical. However, from a digital sponsorship and virtual exhibition perspective, how effective are they?
A new industry buzz word seems to be “hybrid” events, meaning events in the future will simply be streamed and delegates can decide to attend physically or virtually or both. This is hardly a new concept, but the term has been coined arguably to describe the offering to potential participants. However, is this “hybrid” events definition doing justice to the full capabilities that virtual events can offer?
There has been an assumption that simply replicating a physical event into a virtual counterpart will have the same impact. From an information sharing perspective, it could have a bigger impact but from digital “sponsorship” or virtual “exhibition” perspective the effects can be diluted. The successful physical events model of big spaces, multiple sponsors and a plethora of exhibitions becomes clustered in the virtual world.
In order to take full advantage of the virtual event market and opportunity its essential we are taking a progressive and open-minded approach to ensure we are providing the best solution for our clients. There is no replacement for in person interaction but utilising the adequate tools available, virtual events can be more reflective, targeted and cost-effective. This is achieved by taking a truly hybrid approach merging an events perspective with digital marketing concepts.
At Foresight, we have shifted the paradigm to harness digital and content marketing techniques in tandem with virtual events. We are taking advantage of the medium of a webinar by utilising it as the central element of a marketing campaign. We don’t replicate physical events but forge focused concepts around our clients and translate them into a webinar episode, marketing campaign and outreach programme supporting their narrative, capabilities, target audiences and key preferences. Our Webinar Marketing and Outreach Solutions provide our clients with exposure, alignment and effective outreach. Webinar Marketing will not replace physical events but it’s an effective, targeting and flexible new tool within an already limited toolbox.