What is Event Based Marketing?

Event-based marketing has gained significant traction among marketers in recent years, becoming an essential tool in the B2B lead generation and sales development landscape. This marketing strategy refers to tailoring prospect nurturing, sales efforts, and communication activities based on the specific situational needs of a customer or prospect. Rather than taking a traditional “one-size-fits-all” approach, event-based marketing encourages companies to dynamically adapt their efforts to reflect the unique changes happening within their clients' or prospects’ businesses. By aligning business development and demand generation strategies with these key shifts, companies can enhance customer engagement, increase lead conversions, and ultimately drive manufacturing revenue growth.

Defining an “Event”

Many people assume that event-based marketing refers to specific calendar dates, but this is a common misconception. In the context of event-based marketing, an "event" refers to any significant change, activity, or action within a customer’s or prospect’s business that could lead to new buying decisions or opportunities. These events serve as trigger points for companies to adjust their sales strategy and lead nurturing efforts to better suit the prospects' evolving needs.

An event could be highly noticeable or subtle, and recognizing these events is crucial for maximizing the impact of your marketing. Examples of common trigger events include:

• Funding announcements
• Mergers and acquisitions
• Facility expansion, relocation, or capital improvements
• Executive leadership changes
• Financial performance updates
• Hiring announcements
• Layoffs
• New product or service launches
• Legal or regulatory changes

Each of these events can drastically change the trajectory of a business, leading to a greater demand for appointment setting services or outsourced business development as the company reassesses its priorities. For example, an executive leadership change may result in the company seeking new vendors or solutions, providing a prime opportunity for industrial marketing services or industrial construction leads.

Following an event, sales teams can tailor their communication strategies, using appointment setters or prospecting to initiate contact with decision-makers at the optimal moment. This level of customization can significantly enhance the effectiveness of industrial sales and marketing services, allowing businesses to close deals faster by leveraging real-time changes in the prospect's business environment.

Proactive Event-Based Marketing

To successfully implement event-based marketing, companies must adopt a proactive approach. This means continuously monitoring your business opportunity leads and tracking changes throughout the customer lifecycle. Without identifying these key “events,” your sales and marketing efforts may fall short, as they won’t align with the immediate needs of your prospects or clients. Outsourcing lead generation or utilizing industrial market intelligence tools can help track these events, enabling more personalized and relevant communication.

By maintaining close communication between sales and marketing teams, especially in industries such as industrial construction or manufacturing lead generation, companies can effectively manage customer acquisition and engage leads at the right time. As business development hiring grows, more companies are employing outsourced sales development to ensure they are capturing and nurturing leads based on these business events.

Want to learn more about tracking new business opportunity leads? Click here!

Benefits of Event-Based Marketing

Benefits of Event-Based Marketing

There are numerous benefits to adopting an event-based marketing approach, and the results often speak for themselves. According to Eventricity, businesses using event-based marketing strategies can achieve up to a 30% or higher customer response rate. This was demonstrated in a case study involving National Australia Bank and ABM Amro Antonveneta, which saw an average customer response rate of 34% when employing event-based marketing. These impressive numbers show just how powerful this strategy can be when properly applied.

To put this in context, banks today typically see a 2-5% response rate for targeted marketing campaigns, and an abysmal less than 1% for mass marketing efforts. The significantly higher response rates from event-based marketing also translate into increased sales and conversions. When companies tailor their lead generation and sales development strategies to key events, they can create more relevant and compelling offers, leading to better customer engagement and higher conversion rates.

This approach is especially valuable in industries like food and beverage construction, material handling sales, or forklift marketing, where lead generation for manufacturing often requires navigating complex sales cycles and highly specific customer needs. Event-based marketing can ensure that your outreach aligns with the exact moment your prospects are ready to engage.

In Conclusion

Event-based marketing is a highly adaptable strategy that allows businesses to respond quickly and effectively to changes within a prospect's or customer’s organization. By focusing on real-time events, companies can ensure that their marketing and sales efforts are always relevant, driving higher engagement and improving conversion rates. Originally designed for the banking sector, event-based marketing can be applied across industries, from industrial lead generation to outsourced sales development in the manufacturing construction space. Whether you are tracking plant closings, industrial reports, or construction projects, event-based marketing enables companies to optimize their sales pipeline and prospecting efforts for maximum efficiency and growth.

Want to learn more? Get in touch