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Jul 25, 2011

B2B Marketing ROI for Events?

CATEGORY: STRATEGY

There’s good news and bad news in the survey BtoB magazine published on the use of marketing automation in support of events.

First, the good news: marketers see the value in marketing automation, with 58% of respondents saying the most important benefit of advanced marketing systems is the ability to measure an event’s return on investment or ROI. Other advantages of the new technologies include the ability to personalize communications (47%), automatic integration with CRM systems (46%) and the potential to drive attendance to the event (46%).

Unfortunately, there is some bad news: business-to-business marketers seemed frozen in place at the event itself, worrying only about delivering the audience and forgetting about follow-up. Only 21% say they do post-event automated lead scoring and only 19% employ a nurturing program.

The study lays the blame on budget constraints (67%), followed by lack of resources (54%) and a low priority for management (46%).

The only thing that is surprising about that result is that it seemed to surprise BtoB and study co-sponsor, Marketo Inc.

Most likely, I suspect, you would find a similar result for other parts of the marketing program. Perhaps B2B marketers are using some aspects of automation to increase the traffic to their web sites or maybe increase the number of leads.

But the process often stops there, almost never extending to a robust lead nurturing program. And the opportunity to prove B2B marketing ROI is lost.

It’s yet another example of the gap between marketing and sales: once the prospect shows up at the booth, fills out a web form or otherwise makes contact, too many B2B marketers feel their job is done.

That approach is a tremendous loss for their companies and even for prospects. Busy sales reps don’t always have time to follow up with prospects who don’t have an immediate project or need. And prospects who might benefit don’t always find out what their ROI might be.

The future belongs to B2B companies who can break down the barriers and develop a continuous process refining marketing and sales into a continuous pipeline or funnel. One that takes a “stranger,” raises their awareness, spurs their interest, cultivates their desire, brings them to purchasing action... and then continues to treat them as a partner and friend.

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