How Can B2B Publishers Make the Most of Events?
B2B publishers can maximize event marketing success and revenue by adopting Forbes' dual-event strategy for authentic community engagement, making event outcomes measurable through subscription and ad sales growth, optimizing booth sizes without discounting to match exhibitor needs, and strategically pricing sponsorship packages—especially focusing on popular Silver and Bronze levels—to diversify revenue streams and enhance advertiser value.
Event marketing remains a vital strategy for B2B publishers seeking to drive revenue, grow their audience, and engage with advertisers. Here are key insights and actionable steps for making the most of event marketing:
Learning from Forbes' Event Strategy
Forbes has dedicated a team to manage two types of events:
- Tentpole events: Large-scale gatherings with up to 2,000 attendees.
- Smaller, custom events: Focused on specific brands.
Forbes' approach emphasizes authentic engagement with their community, which has contributed to an 18% increase in revenue in 2018. Diversifying revenue streams through events has proven effective.
Making Event Marketing Measurable
It's important to translate event marketing efforts into measurable outcomes, such as:
- Growth of your subscription base
- Expansion of your ad sales pipeline
Publishers are uniquely positioned to leverage their reach and thought leadership to develop successful events.
Maximizing Revenue from Events
To optimize event revenue, consider the following operational strategies:
Booth Size Optimization
- The booth is the foundation of your event, providing value to exhibitors, sponsors, and attendees.
- Popular booth sizes at retail events (2018):
- 100 sq ft (10×10): 50% of booths
- 200 sq ft: ~25% of booths
- 1,000+ sq ft: 5% of booths
- Offer booth sizes that match your potential exhibitors' needs.
- Avoid discounting booths based on size; research shows cost per square foot remains nearly flat even as booth size increases. Exhibitors are willing to pay a premium for more visibility.
Sponsorship Package Positioning
- Silver (Level 2) sponsorships experienced the most growth and were the most popular among new sponsors.
- Bronze (Level 1) sponsorships remain the largest source of sponsorship revenue and account for most sponsorships overall.
- Price sponsorship packages to reflect their popularity. Consider the psychological tendency for people to prefer the middle option when structuring your offerings.
By focusing on these strategies, B2B publishers can maximize the impact and profitability of their event marketing efforts.
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