With the sudden shutdown of the US economy, those working in the event and conference industry are being hit hard. As a ripple effect, the companies who were planning to attend those events to network and drive leads/revenue are also taking a revenue hit.
With a large majority of B2B organizations spending over 21% of their marketing budgets on events, this now opens up the question of “where do we spend those dollars now?”
As many are immediately dumping this surplus of cash into digital channels, strategic organizations are also looking towards sales resources that can connect them with the target audiences they were intending to connect with at events.
Tools Rising to the Top – Sales Intelligence Platforms
Strategic new business professionals are using sales intelligence platforms to hone in on targeted audiences and identify the decision-makers who own the budgets as well as the contextual insights to close the deal.
For example, were you planning to attend Social Media Week this in New York this May? A tool like Winmo can pull targeted prospect lists of brands investing in digital media, their agencies, social spend, and the demographics of their audiences. Use this intel coupled with personality insights or to craft a hyper-targeted email message that gets a response.
Have a list of companies who were supposed to be at the event you were planning to set up meetings with? No problem. Winmo allows you to upload a list of companies and quickly append contact information so you can begin outreach immediately.
Comparing Costs & 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 associated with the time to plan and manage on the backend.
If you’re looking for a total event investment for most companies for March – July, I think it’s safe to assume there’s about $80,000 (at least 4 events that were planned) sitting around. While some companies have had to absorb those resources to remain fiscally responsible, most leadership teams are looking for smart ways to grow revenue, and tools or channels that can help them.
On the other hand, the average cost for an annual license for a sales intelligence platform can range from $6,000 – $15,000.
The primary advantage of attending an event is breaking through the clutter 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 get a response – and you can do it at greater scale than an in-person event.
How sales intelligence can help you show a prospect you’ve done your homework:
Personality Insights – leveraging Crystal Knows technology, you’re able hone in on a decision-maker and identify their personality traits and even their communication preferences. When finding strategic ways to stand out from all the noise right now, this type of intel is helping customers get higher response rates.
Digital Ad Spend – need to know where an advertiser is spending digitally right now? Leveraging Adbeat technology, you’re able to get closer to digital dollars with an in-depth view of your prospects’ creative, including info on where it’s appeared and how often – even the percentage of media running native, direct or programmatic.
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 and find insights across segments like gender, household income, influencers, interests and more.
Direct to Consumer Data – 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 currently spending on DRTV campaigns, and even those predicted to launch new ones.
As you can see sales intelligence platforms are connecting the dots for strategic sales professionals. It’s not just finding who to contact – it’s so much more in today’s selling environment – it’s understanding pain points and honing in high probability buyers, those most closely aligned with what you’re selling.
So as many of you look to adjust your sales and marketing budgets through Q2 and beyond, don’t forget to look at the sales tools that can still connect you with your target audience (at a much higher scale)….and usually at a much lower cost!
Want to take Winmo for a spin? Check it out for yourself and request a trial today.