Reinventing Virtual Events

CHAPTER 39Pivoting Your GTM in Recession with Events

Whatever there be of progress in life comes not through adaptation but through daring.

— Henry Miller

Remember 2008. Your best bet was a commission‐only sales role, as no one was hiring. Marketing leaders went back to corporate, took pay cuts, or worked for equity. Marketing budgets dried up, and positions became scarce. Cutbacks and layoffs ran red across the trades. Everyone had a second or third home mortgaged, and all the value deflated. Right now, renting and leasing will look attractive versus buying as software as a service (SaaS) companies move further to shore up capital expenditure (CapEx) and shift into operational expenditure (OpEx).

Where do events fit in? We've researched this one, so you don't have to. Nobody on LinkedIn talks about how to survive and thrive through a bear market. Here are some constructive go‐to‐market (GTM) strategies to combat the recession and transform it into a competitive advantage.

Based on 2000 and 2008, here we go with recommendations on a pivot:

1. Spend:
   • – 80% of revenue comes from 20% of existing customers. Focus on retention and up‐sell/cross‐sell into your best existing accounts. Why not throw an event focused on expansion business? Bring your best customers together in an environment where they can share knowledge. Highlight new elements of your product roadmap or key up‐sells/cross‐sells ...