This article was updated in July 2022.
B2B events are a great way to build lasting relationships, increase customer retention, and increase the likelihood of follow-up conversations with your net-new prospects and existing customers.
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3 Ways to Increase B2B Sales with Event Marketing
1. Build lasting relationships
Arguably the most important reason to plan or take part in B2B events is to build lasting relationships with prospects or existing customers. B2B sales strategy can take weeks or even months to nurture, so every touch-point is crucial.
When it comes to successful lead generation and building relationships, getting face-to-face with net-new prospects and existing customers is the most effective marketing tactic. Despite the growth of online channels and technologies, nothing triumphs over personal contact. With proven effectiveness, highly targeted B2B events organized rank among the highest ROI of any B2B marketing activity. Start with your desired result, and work backwards to decide the best B2B sales strategy for each event. Plan diligently and test everything.
2. Increase customer retention
Field marketing events increase the likelihood that your customers will re-purchase your products. According to an Eventrack study, 84% of consumers repurchase the product promoted at the event, after their first purchase. In addition, you’ll retain more customers by creating a feedback loop that improves your products and services. By attending and hosting B2B events, you have the chance to gather valuable insight into how prospects and customers alike view and use your business.
58% of marketers believe that events and conferences are important ways to improve customer experiences of their services or products. By improving your feedback loops and ultimately your business offerings, you’ll retain more customers and drive more revenue for the company.
3. Increase likelihood of follow-up conversations
Almost 4 out of 5 people don’t implement a proper B2B sales strategy when it comes to following-up with prospects or existing customers during the post-event phase.
According to Salesforce, 80% of trade show exhibitors don’t follow up with their show leads. Once you’ve met your target audience in person, exchanged business cards and words of value, make sure you exchange profiles across the web. Don’t be afraid to reach out via LinkedIn, email, Twitter, or whatever social channel makes sense for your business. Use technology to augment relationships you foster, you’ll increase the likelihood of furthering the conversation. Following up post-event is as important as any step you’ll take when it comes to B2B sales lead generation or retaining existing customers.