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 StatementsCertain 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:
InvestorsRalf EsperGateway
Group949-574-3860bnzi@gateway-grp.com
MediaTori KlimczakBLASTmedia317-806-1900 ext.
banzai@blastmedia.com
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