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With the sudden shutdown of the US economy, the event and conference industry is hit hard. As a ripple effect, the companies who were planning to attend those events to network and drive leads/revenue are also taking hits. With a large majority of B2B organizations spending over 21% of their marketing budgets on events, the question is, “Where do we spend our event budget now?”
Many are immediately dumping this surplus of cash into digital channels. However, strategic organizations also look to sales resources that can connect them with target audiences.
Tools rising to the top: Sales intelligence platforms
- Strategic new business professionals are using sales intelligence platforms. They’re honing in on targeted audiences and identifying the decision-makers who own the budgets and contextual insights.
- For example, were you planning to attend Social Media Week in New York this May? Winmo can pull targeted prospect lists investing in digital media, their agencies, social spend, and audience demographics.
- Have a list of companies that you were supposed to meet with at an event? No problem. Upload a list of companies in Winmo and quickly append contact information so you can reach them immediately.
Comparing costs and ROI
Events are typically an expensive channel for B2B companies. Reports show that the median spend to sponsor an event is $20,000. And that’s not even assuming the fully-loaded costs of planning and production.
If you’re looking for a total event investment for most companies for March – July, it’s safe to assume there’s about $80,000 (at least four events) sitting around. While some companies absorbed those resources to remain fiscally responsible, most leadership teams are looking for smart ways to grow revenue. On the other hand, the average cost for an annual license for a sales intelligence platform can range from $6,000 – $15,000.
Cost benefits
We attend events to capture a prospect’s attention face to face. The beauty of sales intelligence platforms is that, with key account background and decision-maker insights, you can gather the information you need to make an impression. And you can do it at a greater scale.
Here’s how sales intelligence can help:
- Digital ad spend: First, do you need to know where a digital advertiser is spending? Leveraging Adbeat technology, get closer to digital dollars with an in-depth view of your prospects’ creative, including where it’s appeared (and how often).
- Media spend by channel: Want to know which channels brands are spending in, and when? Leverage our media spend insights to drill into areas like print or broadcast to see quarterly or annual spend allocation.
- Social demographic insights: Leveraging integrated StatSocial technology, Winmo users can quickly discover an advertisers’ unique audience composition. Then, discover insights across segments like gender, household income, influencers, interests, and more.
- Direct to consumer data: Finally, want to know about brands’ investment in direct-to-consumer TV ads right now? With integrated DRTV insights from Media Analytics, users can find brands spending on DRTV campaigns and those predicted to launch new ones.
Sales intelligence platforms connect the dots for strategic sales professionals. It’s not just finding who to contact, it’s understanding pain points and honing in high probability buyers. When reallocating your event budget, look to sales tools that can connect you with your audience at a higher scale and lower cost.