Banzai Expands Reach Solution

Rhea-AI Summary

Banzai International, Inc. (NASDAQ: BNZI) expands its event marketing solution, Reach, to help marketers attract qualified contacts and generate leads. The expansion includes creating an operating business unit, investing in new technology systems, and focusing on serving more customers. Reach leverages Banzai's Audience AI to target potential attendees and drive event registration, resulting in increased sales pipeline. The field marketing industry is experiencing growth post-pandemic, with projections showing a $1 trillion market value increase by 2032.

Reach targets qualified contacts, drives event registration and generates leads for event marketers

SEATTLE, March 07, 2024 (GLOBE NEWSWIRE) -- Banzai International, Inc. (NASDAQ: BNZI), a leading marketing technology company that provides essential marketing and sales solutions, today announced an expansion of Reach, its event marketing solution.

This expansion includes the creation of an operating business unit, investment in new technology systems to support customers more efficiently, and an expanded strategic focus within Banzai to serve additional customers. This expansion is in response to an increase in pipeline for the Reach audience acquisition solution that Banzai has seen in Q1 2024.

Events have become a critical component of effective marketing strategies, providing a unique opportunity to engage with target audiences in a face-to-face setting. However, it's often a challenge for marketers to attract the right individuals to their events, with many resorting to broad, untargeted promotional tactics like large email campaigns or organic social media blasts. This “spray and pray” approach often fails to reach the most relevant and interested prospects.

Despite a temporary hiatus post-pandemic, the field marketing industry is now experiencing significant growth. Projections indicate a $1 trillion market value increase from 2019 to 2032, growing at a CAGR of 6.4% from 2023 to 2032. Heightened expectations for successful events reflect the industry's recovery and increasing value placed on face-to-face interactions. According to the 2023 Gartner Tech Marketing Benchmarks Survey, “technology marketers increased investments [in events] by close to 5 percentage points between 2022 and 2023.”

Reach helps marketers drive event registration by inviting a company's ideal audience through personalized multi-channel campaigns. Leveraging Banzai’s Audience AI feature, Reach targets potential attendees from a database of over 379 million professionals by geographic region, industry, job title and more to fill rooms and sales pipelines. ThoughtSpot, an AI analytics company, saw a 75% increase in registration rates and generated approximately $1 million in new sales pipeline after utilizing Reach.

“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,” said Joe Davy, CEO and chairman of Banzai. “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.”

Leading organizations like ServiceNow, RingCentral, and Tanium use Reach as part of their event marketing strategy. Join a free webinar on March 28 to learn more about Reach and how it helps organizations meet their event registration, attendance, and pipeline goals. Register today.

About Banzai

Banzai is a marketing technology company that provides essential marketing and sales solutions for businesses of all sizes. On a mission to help their customers achieve their mission, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Banzai customers include Square, Hewlett Packard Enterprise, Thermo Fisher Scientific, Thinkific, Doodle and ActiveCampaign, among thousands of others. Learn more at www.banzai.io. For investors, please visit https://ir.banzai.io/

Forward-Looking Statements
Certain statements included in this press release are forward-looking statements within the meaning of “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to statements regarding the potential benefits of Reach, Banzai’s business model and growth strategy, estimates and forecasts of, the growth of the field market industry, financial and performance metrics, projections of market opportunity and market share, expectations and timing related to commercial product launches or success, ability to accelerate Banzai’s go-to-market strategy and capitalize on commercial opportunities, the potential success of Banzai’s go-to-market strategy, expectations regarding stock performance, and the costs of operating as a public company. These statements are based on various assumptions, whether or not identified, and on the current expectations of Banzai’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. These forward-looking statements are subject to a number of risks and uncertainties, including: the failure to maintain Nasdaq listing of Banzai’s securities; changes in domestic and foreign business, market, financial, political and legal conditions; uncertainty of the projected financial information with respect to Banzai; Banzai’s ability to successfully and timely develop, sell and expand its technology and products, and otherwise implement its growth strategy; risks relating to Banzai’s operations and business, including information technology and cybersecurity risks, loss of customers and deterioration in relationships between Banzai and its employees; increased competition; potential disruption of current plans, operations and infrastructure of Banzai as a result of operating as a new public company; difficulties managing growth and expanding operations; the impact of geopolitical, macroeconomic and market conditions; the ability to successfully select, execute or integrate future acquisitions into the business, which could result in material adverse effects to operations and financial conditions; and those factors discussed in its Annual Report on Form 10-K for the fiscal year ended December 31, 2022, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023, and September 30, 2023, the registration statement on Form S-4 (together with all amendments thereto) declared effective on November 13, 2023, and the definitive proxy statement /prospectus contained therein, in each case, under the heading “Risk Factors,” the registration statement on Form S-1 (together with all amendments thereto) declared effective on February 14, 2024, and the prospectus contained therein, in each case, under the heading “Risk Factors,” and other documents of Banzai filed, or to be filed, with the Securities and Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect Banzai’s expectations, plans or forecasts of future events and views as of the date of this press release. Banzai anticipates that subsequent events and developments will cause Banzai’s assessments to change. However, while Banzai may elect to update these forward-looking statements at some point in the future, Banzai specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Banzai’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Media Contacts:

Investors
Ralf Esper
Gateway Group
949-574-3860
bnzi@gateway-grp.com

Media
Tori Klimczak
BLASTmedia
317-806-1900 ext.
banzai@blastmedia.com

FAQ

How does Banzai International, Inc. (BNZI) expand its event marketing solution?

Banzai International, Inc. (BNZI) expands its event marketing solution, Reach, by creating an operating business unit, investing in new technology systems, and focusing on serving more customers.

What is the impact of Reach on event registration?

Reach helps marketers drive event registration by targeting potential attendees through personalized multi-channel campaigns, resulting in increased registration rates and new sales pipeline generation.

Which companies use Reach as part of their event marketing strategy?

Leading organizations like ServiceNow, RingCentral, and Tanium use Reach as part of their event marketing strategy.

What growth is projected for the field marketing industry?

The field marketing industry is experiencing significant growth post-pandemic, with projections indicating a $1 trillion market value increase by 2032.

What technology does Reach leverage to target potential attendees?

Reach leverages Banzai's Audience AI feature to target potential attendees from a database of over 379 million professionals by geographic region, industry, job title, and more.