Banzai Broadens Reach Solution
Martech Outlook | Monday, April 08, 2024
Reach identifies qualified contacts, encourages event registration, and generates leads for event marketers.
FREMONT, CA: “We have observed an increase in demand for audience acquisition solutions for both webinars and field marketing. This represents a reversal in market trend from what we saw in 2020-2023, when marketing teams had a sharp decline in field marketing demand due to COVID-19 restrictions. We are choosing to continue investing in our Reach business to meet market demand for our customers. Event attendance is a major challenge for marketers utilizing field marketing or webinars as a strategy. Reach enables customers to focus on event and webinar execution while supplementing their event audiences to increase their overall ROI,” says Joe Davy, CEO and chairman of Banzai.
Banzai International, a leading marketing technology company that offers essential marketing and sales solutions, declared the expansion of Reach, its event marketing solution.
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The expansion includes forming an operating business unit, investing in new technology systems to better support customers, and a broader strategic focus within Banzai to serve more customers. The expansion follows an increase in the pipeline for Banzai's Reach audience acquisition solution in Q1 2024.
Events have evolved into an essential component of effective marketing strategies, offering a one-of-a-kind opportunity to interact with target audiences in person. It can be difficult for marketers to attract the right people to their events, and many resort to broad, untargeted promotional tactics such as large email campaigns or organic social media blasts. The "spray and pray" approach frequently fails to reach the most relevant and interested prospects.
Despite a temporary hiatus following the pandemic, the field marketing industry is experiencing significant growth. Projections show a $1 trillion increase in market value from 2019 to 2032, with a 6.4 percent CAGR from 2023 to 2032. Increased expectations for successful events reflect the industry's recovery and the growing importance of in-person interactions. According to the 2023 Gartner Tech Marketing Benchmarks Survey, technology marketers increased event investments by nearly five percentage points between 2022 and 2023.
Reach enables marketers to increase event registration by inviting a company's ideal audience via personalized multi-channel campaigns. Reach uses Banzais Audience AI to target potential attendees from a database of over 379 million professionals based on geographic region, industry, job title, and other criteria to fill rooms and sales pipelines.
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