Finding your feet in the B2B events industry: 5 tips to get started
There’s no better time to get involved in the production and execution of business to business (B2B) events and conferences. A dynamic and fast-growing sector, the B2B events industry has come to play a crucial role in the global economy and holds an even more promising future. Despite the COVID pandemic delivering a hefty blow to the industry, research has found that spending on international conferences and business events in the UK is predicted to grow by 43% from pre-pandemic levels. Yet, while growth in the B2B events sector is set to accelerate, the path to success in this industry field requires a unique approach that combines business know-how with creativity and innovation.
To help organisations and professionals succeed in this industry, we’ve come up with five key tips to help you thrive in the world of B2B events and conferences.
1. Define your unique selling point and find your niche
To tap into the potential of B2B events sales, it’s important to consider who you are trying to reach, and the approach and products that appeal to this niche. Networking events; awards nights; Workshops; Conferences – there are so many types of B2B events, and they each come with their own unique characteristics depending on the industry they cater for. Clearly defining these aspects of your business is a powerful first step regardless of whether you’re in a sales, marketing or operational role in the B2B events industry.
If you’re running an up-and-coming B2B events organisation, it’s important to find the right balance between appealing to a large consumer base, while not casting such a wide net that your own brand is indistinguishable. By selecting some key industries that suit your brand and expertise and focussing on these target markets, you’ll start building events that are tailored to the needs and interests of your target audience and stakeholders.
2. Identify potential venues and build valuable partnerships
Once you’ve defined your target markets and established your unique selling point, it’s time to think about which venues will suit your needs and partnerships that might help boost sales and attendance. Events begin with a location, and its easy to overlook important specifics when considering where to host your events. Some basic considerations are size, location, amenities, as well as availability and cost. You’ll quickly find that different venues are more effective for different types of events. Networking events and conferences, for example, will have distinct requirements to suit their goals. Before choosing your venue, it will be useful to develop a budget so that you can account for the venue cost alongside your other expenses.
At this stage of the planning process, there’s a range of benefits in building partnerships with other reputable organisations and brands. Each partnership you build will bring in new expertise and a larger and more diverse audience. It will also make your events more cost effective and increase the perceived legitimacy of your organisation and its events.
3. Develop a solid marketing plan
Since B2B events is an industry that deals with people above all else, it’s crucial to develop an effective marketing plan. Consider the best mediums to reach your target audiences such as traditional advertising, social media, email marketing or cold calling. In today’s B2B events industry, everything has transitioned online. It’s therefore useful to get a solid grasp of digital marketing to help develop best practices in social media and deliver SEO driven results. By developing a strong understanding of your product and presenting its benefit in a persuasive and effective way, you’ll drive sales and help to get your events off the ground.
Another great way to market your event and add credibility is to source great speakers.
4. Assemble the right team for the job
There are many moving parts in the planning and execution of B2B events, and each stage of the process requires a specialised skillet and enthusiastic team members. Carefully selecting the right team will be crucial to both planning and executing successful B2B events. Your team should have a solid grasp of the businesses they’re working with – including their products and services, personality and target markets. You’ll also need sellers who can confidently close deals and build solid connections, marketing and social media specialists, and a flexible, proactive management and planning team. Assembling a reliable and motivated team will help you build long lasting relationships and successfully break in to the B2B events space. It will also ensure that everything runs smoothly on the day and, while there can always be minor hiccups, that no major challenges will arise out of the blue.
5. Reflect and improve
If you ask veterans in the B2B events industry, they’re likely to tell you that it wasn’t easy or straight forward to find their feet and reach success in their field. Even when it seems like all the pieces are in place, it still takes time and effort to grow. That’s where perhaps the most important aspect of the B2B events industry comes into play: constant reflection, refinement and improvement. After the event is over, don’t treat it as ancient history and move on straight away. Instead, take some time to evaluate how the event went, what you and your team did well, and areas of improvement for future events. Engaging with your attendees and partners to ask for feedback will give you an outside and perhaps more objective view of how the event went. It will also show your audience and partners that you’re dedicated to improving your practices, and encourage them to engage with your events in the future.
There’s no secret to success in the B2B events industry. Finding your feet and making a splash in this space requires creative marketing, meaningful stakeholder engagement, careful planning, building quality teams and constant improvement. While this might seem like a lot of work, those who will succeed in the B2B events industry will find satisfaction and reward from rising to these challenges and working constructively on refining each part of this process.
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