Revenue Marketing and Digital Events this 2020

Revenue Marketing and Digital Events this 2020 | Why is it beneficial?

Posted November 3, 2020

It is more than a half year when we had mass gatherings when we went outside freely without fear and needed to wear a facemask. Everything is far from what we used to do.

Looking at the scenario, by looking at what happened in the world, remembering those difficulties and fears we overcome. Perhaps this year is not as good as the previous years.

But what we can do now is to just adopt the new norms and try to be at ease with it. And now, a few months later, everybody gets to use it and now found a new way to communicate, interact, and even greet each other.

Instead of being upset why not take this opportunity as an advantage to use our time wisely and enjoy exploring the powerful features of the digital world.

Digital events are now the new thing this year 2020. That's why marketing also took a step forward and adapted, especially their drive for revenue.

How Digital Events took over 2020?

Digital events took over 2020 when it started to aid the needs of every individual. Even companies and businesses still communicate and interact with their customers around the world.

Because of some safety protocols, people were forbidden to have mass gatherings to avoid physical contact, this leads people to practice digital events. But embracing this different kind of opportunity to do digital events can really be a great marketing strategy if it executes well.

Digital events offer many benefits and features that individuals and even businesses and companies can use. Businesses and companies are one of those people who need and should urgently turn into digital events as part of their new marketing strategies, and so they do not leave behind by the other competitors.

The digital world provides businesses and companies to give information to their users amidst this pandemic. It is also their new way to expand and reach more audiences than before, and more networking opportunities.

What are digital events?

What are digital events? From the word digital, it means not physical, and only appeared through a computer over a network.

Therefore, a digital event is a kind of event wherein people are gathering through only facing their computers or laptop. The users can join events, training, conferences, and meetings without the hassle of traveling, and spending money, they can attend in one click.

Digital events give us the opportunity to engage, interact, and communicate in digital wherever and whenever we are across the world. Digital events also provide us the chance to share some information about our products, raise brand awareness.

This will lead companies, businesses, and other entrepreneurs to build their brand’s authority and credibility, generate more leads, increase their expert experience in their field, and so on. Digital events also have different types:

Webinar
Webcast
Podcast
Online Conferences
Seminars
Social Parties
Twitter Chats
Twitter Parties
Facebook Parties
Google+ Hangouts

How does it benefit businesses and companies?

Digital events can benefit businesses and companies such as:

You can save time

Because it is digital, you can easily set up your event everywhere you are. All you must do is to create your registration page, do a technical check, promote your event, and so on. You do not have to worry about setting up all the venues of your event, your attendees can join your event without traveling for long hours, and so on.

You can save money

You can save time and money in digital events compared to physical events. Physical events require you to pay for booking hotel stays, venue, hall, foods, and travel. While digital events you do not have to spend money on all of that because your participants can join the event wherever they are around the world.

You can reach more audience

One of the best benefits you can gain in doing digital events is you can easily promote your event on social media channels and other websites. By promoting your events you can gain a larger scale of an audience with less hassle than before in the physical event.

You can easily interact with your audience

Since it is digital, it is easy now for you to interact and communicate with your audience and speaker.

What is Revenue Marketing?

Revenue marketing is a holistic approach used by companies and businesses to help them improve their ROMI, and create the best customer experience. It is also the term to describe the frontier of the marketing and sales industry.

This marketing and sales have a common goal by having constant feedback between marketing and sales. The revenue marketing journey has 4 stages namely: Traditional Marketing, the next stage is the Lead Generation, and then move to Demand Generation and the final stage is Revenue Marketing.

Why is it important this 2020?

Why is revenue marketing important this 2020? Well, here are some benefits that you can gain from it.

Benefits of revenue marketing

Revenue marketing can analyze what a customer wants, needs, and interests.
Build a stronger relationship with other company
Can optimize Revenue on Marketing Investments
The customer receives relevant and appropriate communication

Revenue Marketing Strategy

Revenue Marketing strategies have a 4-step process. Let us talk about it further.

Understand the buyer

The first step of your marketing strategy is to fully understand your buyer. Understanding your buyer requires you to determine their needs and wants. Also, it is important that you know your customers’ interest and their buying cycle.

For you to be able to understand your potential customer and client, you need to create some Job to be Done Framework. This framework is quite popular in the marketing industry because it can help you create a detailed persona of your ideal customer or any form that will help you determine the needs of your buyer.

This JTBD is a great digital marketing strategy to pursue you to imagine and think about the most important thing and detail you need to know about a single buyer. That’s what it called Job to be Done because the product or service you provide helps the buyer to get the job done.

Once you identify and understand your buyer, it is time now to know and evaluate their buying cycle. The buying cycle is the journey where your buyer goes through before they purchase or buy a product or service from you. The buying cycle has 5 stages:

Awareness -Recognizing that they have a problem

Consideration -Considering options to solve their problem

Intent -Earning the trust of your potential customer

Purchase -Making the purchase decision

Repurchase/Renewal -Assessing the result of the purchased product

It is also important that you identify and recognize a certain stage of how your buyer goes through the process of buying.

Align marketing and sales

This part is focused on aligning marketing and generating sales efforts. Sales enablement is one method you can use to align your marketing and sales.

This method helps you to provide and deliver a better buyer experience, make marketing teams more efficient and productive, and create an effective alignment of marketing and sales. Thinking, scratching down some helpful questions,s and focusing on what you must do will also help you to build alignment between your sales and your marketing.

Some questions might be:

Do marketing and salespeople work towards their desire and goal?
Are marketing and sales knowledge and align on their own Key Performance Indicator?
Are marketing and sales knowledgeable about each other’s KPIs?
Does data move easily and align between marketing and sales?

Aligning your marketing and sales requires you to consider important ideas and concepts, this is quite challenging, right?

Execute collateral and campaigns

Collateral and campaign are some of the effective strategies you can have in revenue marketing to reach more qualified and potential customers and clients. Collateral involves the use of media materials to promote a company’s product or service.

This collateral can be in the form of flyers, brochures, cards, catalogs, and so on. While the campaign is the act of promoting your products or service through various types of digital media, such as televisions, radio, and other online platforms that involves demonstrations, video, and other interactive and engaging techniques.

By executing both collateral and campaign, you are promoting your brand and product by advertising it on a large scale of customers. You also need to consider that you must have a comprehensive plan, clear messages, and competitive content for you to achieve a successful result.

Analyze and improve

And the last stage is to analyze and improve your marketing. All businesses and companies come up with this stage, wherein they are analyzing where the stage or process needs improvement and give it another try to test or evaluate.

The result of your marketing techniques will define which one works, and which one needs improvement until it works perfectly.

Conclusion

Digital events are far different from the physical event. Both have pros and cons.

That is why companies and businesses should think twice before making a move. They must have careful steps about what the scenario will be like during and after their digital events.

There are a lot of approaches around there, and why not try all those approaches to evaluate what is best for you. And that is the main goal, to find out what works better for you and for your prospects.

The result of your marketing techniques will define which one works, and which one needs improvement until it works perfectly.

Dianne Vimmel