Results

Banzai International Inc.

19/08/2024 | News release | Distributed by Public on 19/08/2024 22:36

Why In-Person Events Need to Be Part of Your Event Strategy

Virtual events have surged in popularity in the past few years, leading many to view in-person events as outdated tactics.

However, this perception is increasingly seeing pushback: As people struggle with Zoom fatigue and the limitations of virtual interactions, the demand for fresh, meaningful connections is on the rise.

In-person events are making a strong comeback, proving to be indispensable components of an effective marketing strategy.

In this piece, you'll learn:

  1. Why in-person events are regaining popularity
  2. How they enhance attendee experiences
  3. The impact of in-person events on business growth

Let's get started.

Top 3 Reasons to Integrate In-Person Events Into Your Overall Event Strategy

Here are three reasons why you need to include in-person events in your overall marketing strategy.

  1. In-Person Events Are Rebounding

After a period of virtual event dominance, in-person events are making a strong comeback as the preferred format for attendees and organizers alike.

The irreplaceable value of face-to-face interactions has become starkly evident, as they foster deeper, more meaningful connections between attendees, speakers, and exhibitors. That power is one of the main factors driving the resurgence of in-person gatherings.

Their personal touch and direct communication facilitate relationship-building in a way that virtual events can't replicate. This desire to create genuine human connections in a lively, yet relaxed setting is precisely what Peep Laja had in mind for his annual SaaS marketing conference, Spryng by Wynter. The conference takes place at an Austin, Texas brewery over two days, and only about 200 people can attend. That creates a high-quality, close-knit experience with the goal to build authentic connections.

As one attendee raved, the event space was "hosted indoors & outdoors at a brewery (Not a stuffy hotel conference room)[, and the audience was made up of a] high caliber of people/marketers … for [a] more intimate experience." As a result, the attendees were able "to form genuine connections with some really cool people."

Rather than back-to-back generic presentations, Spryng facilitated curated roundtable discussions. Marketers openly talked about their challenges and brainstormed solutions together. This led to a lively sharing of ideas without endless sales pitches.

The feeling of being part of a community is another major reason in-person events are coming back. When people attend a physical event, it creates a shared experience, which fosters connections among attendees. In turn, that sense of community can strengthen brand loyalty and attendee engagement, with 84% of attendees feeling more inclined towards a brand after attending an in-person event.

Further, about 77% of attendees consider networking to be the primary reason for attending in-person events.

  1. In-Person Events Enrich the Attendee Experience

In-person events provide a multi-faceted experience that virtual events have a hard time replicating. That's evident given how 44% and 35% of virtual event attendees respectively find it hard to network and build relationships compared to in-person events. They also offer attendees greater involvement and engagement.

The energy and dynamics of a live setting create an atmosphere that encourages active participation and fosters interactive discussions, which increases the value for attendees. Moreover, live events enable hands-on product demonstrations and interactive exhibits so attendees can experience products and services firsthand. That, in turn, cultivates a deeper understanding and connection with the offerings and the associated brand.

  1. In-Person Events Drive Business Growth

Beyond enhancing the attendee experience, in-person events play a pivotal role in supporting tangible business growth and achieving strategic objectives for organizations. For instance, a key advantage of this tactic is they generate high-quality leads and accelerate sales cycles.

As Shiv Chibber of ConvertKit notes, "Users find other users they can partner with to grow their audience through the collaboration tools we offer in our product. [This] point makes these networking events uniquely tied back to revenue because our pricing is tied to creators growing their audience. We grow when our creators grow. [Our in-person Mastermind] events inherently help them grow."

Beyond cultivating relationships between attendees, a physical setting provides a unique opportunity for brands to connect with potential customers and boost brand awareness. It strengthens engagement and deepens the company's understanding of their prospects' needs. That personal interaction can yield higher-quality leads and shorten sales cycles.

And, again, in-person events allow companies to showcase their products and services hands-on, which creates lasting impressions, as Chibber found: "Can I connect the registration emails of users to my networking event back to an account in the software? If yes, can I create a system to track the contraction, expansion, and churn of those who attend networking events vs. those who don't? I bet you'll find a positive trend among attendees."

Thanks to the strong connection with attendees, it's easier for them to understand a brand's value proposition.

Measure the Impact and ROI to Justify In-Person Events

While in-person events provide immense value, proving their return on investment (ROI) can be challenging for marketers. However, by focusing on the right metrics and leveraging data integration, you can accurately quantify their impact.

Start by clearly defining your ideal customer profile (ICP) and segmenting attendees into tiers based on how closely they match your defined ICP. Then, track the QAR (qualified attendee rate) for each group to uncover your ROI at every stage of the sales cycle.

To calculate QAR, divide the number of qualified attendees by the total attendance for each tier.

The Eyeball to Demo rate (EDR) is another crucial metric that reveals your ability to convert attendees into sales opportunities.

Go a step further by comparing the pipeline value between narrowly targeted events and broader ones.

For example, let's say you hosted a cybersecurity event of 500 attendees specifically targeting CISOs and IT security leaders at enterprises (your tier 1 ICP). After six months of nurturing and follow-up, the event generated a total pipeline value of $5 million through 20 qualified opportunities.

In contrast, examine the pipeline generated from a broader cybersecurity event you hosted open to all company sizes and roles. Despite having 1,000 attendees, the total pipeline value after six months was only $2 million across 40 opportunities. Many of these were smaller deals from companies outside your core ICP.

Integrating event data into your marketing automation and CRM is important as well, since it automatically updates lead records and triggers nurture campaigns based on captured interests and behaviors.

Measure your post-event lead-nurturing efforts by tracking time to conversion, the number of touch points required, and, ultimately, closed revenue for each ICP tier. Benchmark these metrics across events to optimize your strategies continuously.

While quantitative metrics are critical, also assess qualitative factors like event mentions, online discussions, and attendee feedback through surveys to learn the impact of these in-person meetups on brand awareness and advocacy.

Achieve Higher Marketing Results With In-Person Events

Virtual events have become indispensable for their ability to attract large global audiences cost-effectively. However, they lack the depth of engagement and human connection of physical interactions.

In-person events allow for richer networking opportunities, hands-on product demos, and more immersive branding experiences - all of which can accelerate lead nurturing and conversion.

Combining these formats empowers you to meet prospects where they are in their buyer's journey. Run virtual sessions for initial awareness and education at the top of the funnel, then complement them with in-person gatherings for more personalized interactions as prospects progress towards their purchase decisions.

For example, start with a webinar or virtual conference to share thought leadership content and capture broad interest. Then, invite the most engaged leads to an exclusive in-person event where they can experience products firsthand and network with subject matter experts. This nurturing approach optimizes resources while providing touch points tailored to each prospect's level of interest.

When executing this unified strategy, leverage an event management platform like Reach to streamline promotion, registration, engagement tracking, and data integration across both virtual and in-person events. This solution offers a unified data repository that'll help you maintain a seamless attendee experience and understand cross-channel patterns of interaction.

For in-person event logistics, secure specialized venues with live-streaming capabilities to simulcast keynotes and sessions to your virtual audiences as well. Post-event, analyze attendee data to identify the warmest prospects from both channels. Score leads based on their engagement levels, session attendance, and behaviors like downloads or booth visits. Then, trigger automated nurture campaigns through your marketing automation platform tailored to each lead's determined interests and vendor preferences.

Virtual event engagement data may indicate early-stage prospects require more nurturing content, while highly engaged in-person attendees could be fast-tracked for sales conversations and demos based on their readiness signals.

Best Practices for Incorporating In-Person Events Into Your Broader Strategy

To maximize the impact of your in-person events, you need to adopt a strategic approach that aligns them with your broader business objectives and leverages data-driven insights.

Here are some key best practices to adhere to.

  • Define Clear Objectives

Before planning any event, establish clear, measurable objectives tied to your overall marketing and business goals.

Are you aiming to generate leads, nurture existing prospects, showcase products, or drive partner engagement? This North Star will dictate every other decision.

For example, if your objective is lead generation, optimize the event experience for capturing contact information through gamification, surveys, or session check-ins using an event app like Demio. If product launches are the focus though, incorporate demos and private product viewing rooms.

  • Leverage Data and Technology

Capitalize on your existing marketing, CRM, and business data to prioritize your target audiences and personas based on how well they fit your ICP and their propensity to convert. Support this stratification with intent signals like website interactions, job postings, and technographics.

That data serves as an excellent guide for your event promotion strategy, running targeted account-based marketing campaigns through platforms like Reach to attract your ideal attendees with precision. On-site, employ attendee tracking technologies like RFID badges or beacons to capture individual journeys.

  • Create a Cohesive Experience

While in-person and virtual events require separate logistics and strategies, the attendee experience should be cohesive between the two. Feature the same event branding, creative themes, and messaging across all channels and touchpoints, and adopt multi channel streaming tools like Demio to simulcast keynotes and content. If incorporating a virtual component, allow remote audience members to participate in the live Q&A, gamification, and networking through immersive environments.

After your events, integrate all engagement data into your marketing automation and CRM systems, like Marketo or HubSpot. This allows you to trigger tailored nurture campaigns based on each attendee's interests and behaviors across physical and virtual channels.

  • Continuous Optimization

Establish a cadence of formalized testing across your event portfolio. Analyze performance metrics like attendance sources, lead quality, opportunities generated, and influenced revenue to identify your events with the highest and lowest performances.

For your top scorers, invest in further customization, advanced targeting, more robust promotion, and enhanced experiences. For underperformers, reevaluate the audience, format, venues, and whether you need to make some adjustments or any consolidation. Tools like full-cycle marketing analytics platforms from companies such as Bizible or Metadata.io can close the loop on event attribution.

Embrace an iterative process of soliciting audience feedback, monitoring trends, testing new technologies, and continuously optimizing your event strategy based on what's driving measurable business impact.

The Bottom Line

In-person events are an essential component of a well-rounded event strategy. They provide unique opportunities for fostering genuine human connections, enhancing the attendee experience, and driving tangible business growth.

By integrating these events, you can leverage the irreplaceable value of face-to-face interactions that virtual formats often fail to replicate to build stronger relationships, create a sense of community, and offer immersive, multi-sensory experiences.