70: Pedro Goés - Building for enterprise customers in an oversaturated market
Aug 11, 2024
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Pedro Goés, founder and CEO of InEvent, dives into the art of selling to enterprise clients in the crowded event tech industry. He emphasizes the power of in-person relationships over self-service models. Pedro highlights the importance of certifications for client retention and shares insights on the differing business landscapes in the US and Europe. He discusses the impact of AI on their products and advocates for niche focus to thrive in a saturated market. This conversation reveals the blend of strategy and personal touch needed for success.
Building personal trust through in-person interactions is essential for securing enterprise clients and improving conversion rates.
Focusing on enterprise clients with stable budgets enables strategic retention, fostering long-term relationships and creating sustainable growth opportunities.
Deep dives
Building Trust Beyond Digital Interactions
Establishing trust with potential clients is crucial for conversion rates, particularly in the enterprise sector. While a robust conversion funnel may generate high-quality leads through online channels, personal interactions play a significant role in securing sales. Competitors that host in-person events, such as dinners and trade shows, foster a sense of trust that can sway client decisions. Businesses must not only capture leads online but also create opportunities for real-world engagement to enhance client connections and conversion rates.
Focusing on High Retention Through Enterprise Clients
Targeting enterprise clients has proven beneficial for retention rates, as these companies tend to have secure budgets and predictable needs. Smaller clients may fluctuate in their purchasing decisions due to factors like varying annual event sizes or financial unpredictability. Enterprise clients, however, tend to have longer-term contracts, which stabilizes revenue and allows for planning and investment in high-quality services. This strategic focus has shifted the business model toward retaining and expanding enterprise relationships, positioning the company for sustainable growth.
Innovative Event Technology Solutions
The company differentiates itself by providing an all-in-one event technology platform that addresses the complex needs of enterprise clients. Core offerings include event registration, mobile applications, and seamless integrations, ensuring that client expectations are met with high-quality output. Additionally, leveraging innovations such as AI for tasks like automated photo tagging enhances the user's experience, positioning the platform as both reliable and advanced. By continually improving these key services, the company maintains a competitive edge in a market where technology is expected to perform seamlessly together.
Navigating Regulations and Market Demands
The interplay between regulatory demands and market dynamics varies significantly between regions like the US and Europe, impacting business operations and strategies. While the US offers a vast market with less regulatory friction, Europe presents challenges with diverse languages and compliance requirements. This complexity, however, can also enhance retention rates in Europe as businesses must adhere to stricter regulations. Understanding regional differences and investing in local operations can create a strategic advantage and foster deeper client relationships.
Pedro Góes, the founder and CEO of InEvent, discusses with me the challenges and strategies of selling to enterprise clients in the event tech industry.
Why in-person interactions and relationship-building can’t be beat by pure self-serve. The value of certifications and how they contribute to higher retention rates.
He shares insights on the event tech market, the role of AI in their product, and the differences between doing business in the US and Europe.
Takeaways
In-person interactions and relationship-building are important for establishing trust and are not just limited to sales.
Expanding in-person operations and support can be a key differentiator.
The challenges and regulations of doing business in Europe and the US differ.
Finding a niche and focusing on a specific market segment can lead to success in an oversaturated market.
Sound Bites
"We have been trying to focus on this type of clients because it's better retention."
"We have been building this for 12 years and it's not ready yet."
Chapters
04:43 The Value of Certifications
09:48 Challenges and Opportunities in Enterprise Sales