What The NBA Can Teach Companies About The Marketing Funnel

What The NBA Can Teach Companies About The Marketing Funnel

Sam Colbert-Hile is President and CEO of Brandlive . Brandlive helps the world's best brands create virtual experiences that move people.

In the global economy, marketing budgets are being cut, spending is being scrutinized and business travel is being reduced. Google recently announced that it will no longer allow non-essential business travel when a virtual option exists, and the effectiveness of digital advertising is declining as cookies disappear. Marketers now have to get creative when it comes to creating a marketing funnel—that is, visualizing a company's journey with its customers from lead generation to conversion.

To maximize audience engagement at the lowest cost per lead, marketers must expand their marketing tools to include virtual events, webinars and video content to reach in-person and remote audiences. However, previous virtual events or webinars require a thorough review. After all, the competition for eyeballs is fierce. Both face-to-face and long-distance communications must be highly engaging, memorable, valuable and interesting to attract attention.

To that end, marketers and executives can (and should) turn to the entertainment industry for more engaging virtual events, webinars, and video content. Take professional sports as an example.

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