Growing revenue by acquiring new subscribers: here’s how the experts do it
Following the forced postponement of most events in the first half of 2020, we ran a webinar for conference and B2B tradeshow organisers on key marketing considerations needed in this unique period of time. Over 100 CEOs, MDs, department heads and marketers from across B2B media and events attended our two instalments of the virtual event.
Here are the 13 things we learned about marketing postponed events that we’d like to share with our community:
Ensuring success for your next event…
1. Collaboration is key
The events industry is moving into a new era. Close collaboration between all stakeholders will be vital in forming a winning strategy for the months and years ahead.
2. This is a great opportunity to build new digital formats
Digitally-enhanced and fully-virtual events started running successfully some years ago, but it is clear that the current crisis is a catalyst for a very rapid digital transformation of events businesses. Winning event brands will leverage tech to engage their communities year-round, not just at the events or in the immediate run up to an event.
3. Longer lead time is an opportunity
For all the doom and gloom of the situation, longer lead times and the opportunity to generate more digital engagement with their audiences presents a wonderful opportunity for marketers. New digital formats and creative approaches to comms will push some of our marketeers out of their comfort zones initially; but they will build up their knowledge and confidence in the right areas quickly – they will need to!
4. Engagement and lead generation must be the focus
In times of great uncertainty, events revenue is hugely challenged. Maintaining the interest of prospective delegates online and over a longer time period is essential in securing revenue over the long term. With this in mind…
5. Content marketing is now the magic ingredient
Knowledge banks, resource centres, speaker Q&As, podcasts, interviews, webinars, whitepapers – all of these will serve your community well in the coming weeks, keeping event stakeholders and audiences engaged and trusting in your brand
Read more >
6. Now is a good time to grow your audience and database
Having more time to engage with your audience presents a great opportunity to add more relevant names to your database. Whether you decide to invite them to your event or invite them to take out a subscription – having more of the right prospects’ details on your database can only help you! More downloadable content on your website will allow you to capture contact details of key contacts. Your marketers can also start engaging with more media partners to extend your reach further. And adding more contacts to your database via targeted research will really pay off.
7. You should aim to make your events even more valuable
Prospective delegates, speakers and sponsors will applaud if you use the extra time you have to enhance your product. Enhancements could include virtual event formats, digital add-ons, new speakers and the aforementioned content production.
8. Newsletters are likely to make a comeback
How do you communicate the evolving nature of your product (without pushing the ‘hard sell’) and get people to buy tickets when they’re not yet sure if they’ll be able to attend? A simple newsletter could be the best way to keep your audience informed, engaged and well served with useful product updates and content. And if the newsletter is valued by your community this could be the start of a new subscription product and a new way to generate revenue.
9. Monitoring results is more important than ever – ‘test & learn’ will be critical!
Where there is uncertainty, hard numbers and data are your guiding light. Keeping track of everything from website traffic to the channels driving revenue will enable informed decisions on how to approach your marketing – one week at a time. If your marketing team is going to be trying new things – you’ll need to know if they work.
Looking long term…
10. 2021 events may have a shorter cycle due to later 2020 events
Events organisers will need to think carefully about how they approach this challenge. Don’t underestimate the impact a short lead time will have on your content production timeline, as well as how your marketing and sales team will need to adjust their approach to generate required levels of revenue. Start working on your 2021 event before your postponed 2020 event to get ahead!
11. Will digital enable expansion?
Virtual events can be attended from anywhere in the world, meaning the reach of your event is now truly global. The size of your event is also no longer restricted by the size of the venue, and the increasing logistics and catering costs that come with scale are not an issue in the virtual world.
12. Will this spark more creativity in the sector?
Hardship breeds resourcefulness, ingenuity and innovation. The event organisers that respond well to this challenge by adapting fast, developing new models and ways of engaging with and serving their community will define the way we approach events for the coming decade.
13. What are the skills needed in 2021 and beyond?
As digital comes to the fore and businesses try to understand their new place in the world, agile and tech-savvy teams will be needed. The shift to year-round community engagement will require marketers who can think long-term, instead of focusing on short-term results. It will also mean that people who can learn quickly and move forward fast and confidently are likely to be the stars.
Find out more about how to win in the new world here.
To see more on what was discussed in our webinar series, you can watch the full webinar below.
The webinar slide deck is also available, including answers to questions on numerous challenges and issues highlighted in the webinar Q&A.
We will be running more webinars soon on the challenges event organisers are facing, as well as how B2B media and events brands can get stuck into building and engaging their communities better with digitally delivered content and virtual networking opportunities. If you would like to suggest a topic or issue for us to cover, or if you would like to contribute a case study, please get in touch.
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