3 Ways Field Marketing Events Increase B2B Sales
Field marketing 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. Here are three ways field marketing events increase B2B sales from the B2B event experts at Banzai.
Build lasting relationships
Arguably the most important reason to host or take part in field marketing events is to build lasting relationships with prospects or existing customers. B2B sales cycles can take weeks or even months to nurture, so every touch-point is crucial during the cycle. When it comes to 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 in-person events organized by a company rank among the highest ROI of any B2B marketing activity. Start with your desired result, and work backwards to decide the best strategy for each event. Plan diligently and test everything.
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 because you’ll create a feedback loop with which to improve your products and services. By attending and hosting live 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.
Increase likelihood of follow-up conversation
Almost 4 out of 5 people don’t implement a proper strategy when it comes to following-up with prospects or existing customers during the post-event phase. Make sure to follow up! 75% of leads are never followed-up with after an exhibition. 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 of reaching out via LinkedIn, email, Twitter, or even Snapchat or Instagram. 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 nurturing B2B prospects or retaining existing customers.