The task of improving marketing and sales alignment is never-ending. Organizations that are able to master it, thrive, and the ones who struggle with achieving it, don’t. One aspect of the marketing and sales relationship that has historically been misaligned is event marketing, primarily due to the rigidness of event schedules. In the past, event teams were mostly focused on their annual conference and exhibits at tradeshows. Both of these, while necessary, are seasonal in nature and don’t allow flexibility to support the sales teams when they require it most. This mindset no longer applies.
There has been a dramatic shift in recent years that has driven alignment between event marketing and sales teams in an unprecedented way. And who do we have to thank? The pandemic.
In our third installment of “The New Era of Event Marketing”, we explore the year-round event cycle that has given way to unlimited possibilities and harmonized sales and event teams like never before.
During the pandemic marketers didn’t just become proficient at virtual events, they mastered them. Marketers implemented the technology and team to make remotely engaging with their audience elegant and effective. As the pandemic began to wind down, society started warming up to in-person engagements again. Initially, with a lot of limitations around group size and space. This became the time to shine for small regional events. This event format made it possible for companies to accelerate relationships and revenue within the confines of the time by targeting cities with their top customers and prospects and hosting them in intimate gatherings.
The combination of virtual and regional events allowed marketing teams to continue performing amidst so much uncertainty in the macro-environment and because of that, they’re here to stay. The beauty of these events is that they take less bandwidth, budget, and lead time to execute, allowing the timing of when they occur to be much more flexible - giving companies a way to connect with their target audiences more frequently. And best of all, they perform.
Now, this doesn’t mean we need to abandon the idea that annual conferences take place around the same time every year. Predictability in planning is critical to success. But, what it does mean is that event marketing’s agility to support the demands of the business has increased exponentially. Finally having the ability to mirror strategies to the annual sales cycle has drastically improved marketing’s alignment with revenue, not just pipeline.
So how should marketing teams adapt their event plans with the annual sales cycle in mind? Below is a framework on how to design a year-round event strategy that maximizes alignment and revenue.
Q1 - Focus on Top of Funnel
With the turn of a new fiscal year, it is important to acquire as many leads as possible. Casting a wide net with a minimal budget is key here. Think educational webinars, role-based meetups, product releases, and tradeshow booths. Maximizing interest and reach during Q1 is imperative to the success of the year.
Q2 - Focus on Quantity -> Quality
Teams have spent Q1 identifying new interests, now is the time to act. Seek to stand out by hosting hands-on workshops and regional events. The goal during this quarter is to convert the wide net of elusive interests into a smaller set of defined interests. Building validity and trust will be key so, Q2 is the time to involve current customers in your events. Happy customers are the best salespeople!
Q3 - Customer Conference / User Conference
Q3 is the perfect time to host your annual conference - whether it is a customer conference, a user conference, or a combination of the two. The beauty of this type of event is that it is a jack of all trades. It identifies new interests, cultivates current interests, and progresses the late-stage pipeline to the final closing steps. Q3 is the perfect time for a conference because it will set the current year up for a strong finish and also, build pipeline to kickstart the next year.
Q4 - Closing Events
Q4 is closing time. Period. If marketing is trying to host any other type of event during this quarter, it will undoubtedly fail. Sales is squarely focused on closing business during this time, as they should be. Marketing teams should make the most of this phase by hosting high-end, more personable events, like Michelin Star dinners and wine-tasting experiences, for decision-makers. This allows marketing to align with sales and meet the business where it matters most, ultimately closing more revenue.
The challenge of perfectly aligning marketing and sales will probably always be a topic of discussion however, as the event industry moves forward, synchronizing the strategy and format of events to the needs of sales will greatly improve the relationship between the two departments. By looking at the various types of events and mapping them thoughtfully to the path of revenue, marketing teams will maximize their impact and be major contributors of revenue, not just pipeline.
In addition to creating an annual event strategy that is in lockstep with sales, the most successful marketing teams have revolutionized how they are leveraging data to expand success. In our fourth installment of, “The New Era of Marketing”, we will explore how the best teams are using data to plan, prepare, follow up, and analyze the success of their events. Stay tuned!
