Business to Business (B2B) marketing strategies are perceived as the best, intensely powerful, and advantageous to global businesses. It is because B2B marketing considers crucial the demands & interests of the enterprise purchases. The focus gets intense when the enterprises become the customer themselves, to understand their point of view and need. To design a successful B2B marketing strategy, the teams must focus on the three factors.
- Customer interest/demand awareness.
- Research customer search interests.
- Decision making – when a customer finalises a purchase.
Other niche factors also influence customer decision making. And they are
- What is the return on investment on a particular product?
- Does the product serve for the long term?
- How well they cover the after-sales and service responsibilities?
B2B enterprises must meet a large group of diverse clienteles every day to keep their businesses going on a smooth note. Connecting with them personally can become time-consuming and expensive. One way they can meet, ideate and collaborate with clients & investors is through events. In events, large groups of audiences, share a common private space to explore new opportunities, build strategies and make crucial business decisions. Events help businesses or markets to fast track their sales and expedite brand growth. Event marketing for b2b enterprises happens in 3 ways.
Let us check them all in detail.
B2B Live Events:
B2B live events can be exhibitions, trade shows, conferences, musical nights, food expos and roadshows. Research states that when in-person events were high in 2019, 95% of b2b firms were interested in these live events.
So, let us learn what makes these live events so popular way back in 2019.
- Private one-on-one meetings.
- Build trust.
- Face-to-face meetings led to enhanced sales and well-qualified lead generation.
- Better conversion rates.
- Improved brand awareness, growth and ROI.
Like every pro has a con, live events also have their cons. Let us check them in detail.
- Highly expensive.
- Limited reach
Despite their limitations and cons, they are considered most effective and responsive.
B2B Virtual Events:
Advanced technologies have enabled experts to design highly immersive spaces that perfectly replicates live events. And they are virtual events. Since the pandemic, virtual events have come in extremely handy and convincing for b2b and b2c businesses globally. Virtual events can be custom-designed to serve numerous purposes.E.g., webinars, conferences, breakout rooms, fireside chats, trade shows, demos, and many more hosting’s are helping businesses connect, collaborate and grow their businesses globally. The connectivity and flexibility that was missing for years got cleared just as a mist with virtual events.
Now let us look into the pros and cons of virtual events.
Virtual events are
- Highly cost-effective
- Support global connectivity
- Support multiple integrations.
- Can stay open 24*7*365 along with essential support and maintenance.
Understanding the cons is as essential as learning about the pros.
- Technological dependency is at a high.
- Need better strategies for networking.
- Lengthy events can create engagement issues. Shorter events are best for engagement and business growth.
Initially, it was a ‘not so sure’ scenario for businesses to adapt to virtual events. As they were decisive about in-person events. But overtime, exhibitors have understood the importance of content, integrations and strategies and how to keep the audience engaged throughout the virtual events. That gave some hype and attention to virtual events, virtual events service providers and virtual events planners.
B2B Hybrid Events:
Around the last quarter of 2020, businesses demanded a customized, fusion-like experience of both in-person and virtual, known as hybrid events. Industry leaders and experts believe that hybrid events are the next generation solution for hosting in-person and virtual events together. The thought is to maintain the audience engagement at all costs and not to let go of the traditional model that is live events which people have got used to for since long.
Why Organisers Must Choose Hybrid Events Software for their Business?
So, if we begin to vote for event models, then we must say, the first vote goes to hybrid events.
Let us check with some of the advantages of choosing a hybrid events software.
- Reach out to in-person and virtual events clients at the same time.
- Better interaction with customers.
- Better data analytics and insights.
- High return on investment.
- Live video streaming and content on-demand.
The challenging part in hybrid events is the content needs to be exclusive for both online and offline audience. As much as the efforts are, the results will be massive and highly satisfactory in return on investment and branding. So, hybrid events are sure to set the trend in 2021 and ahead. Hence, we suggest the enterprises adopt the hybrid events model for events &hybrid fairs model for exhibitions into their business plan.
B2B marketing can be successful only if it can create continuous engagement, networking, trust and impact. The fusion of live and virtual events that is a hybrid events software is popular in creating the desired engagement and impact on the audience irrespective of their location & language barriers. So, making hybrid events a part of your marketing strategy is sure to win you big. HexaFair is a hybrid events software complete with innovative features, engaging strategies, integration & support. With HexaFair hybrid events software, you can launch your hybrid events in a swish and also ask for exclusive on-demand features for your event.