How Virtual Events/Expos Are Shifting The Gears Of B2B Marketing In The New Normal
A Mckinsey report reveals that B2B buyers are increasingly zeroing in on digital channels as a preferred point of contact between them and their potential stakeholders.
The COVID-19 pandemic has rendered a crumbling impact on the human world; affecting countless industries, institutions, and other social avenues. The global business landscape has been forced to take a major leap of faith as organizations everywhere are abruptly carrying out vast changes in the way they exist and operate in the post-pandemic period.
The new normal has ushered a widespread digital transformation of erstwhile processes with countless companies transitioning towards remote working and contactless modes of functioning. The B2B marketing vertical, for instance, has witnessed a slew of drastic changes in the way businesses engage with other businesses and stakeholders. It is safe to assume that the corporate sphere has entered a new paradigm; one that’s replete with boundless growth opportunities and challenges of its own. Welcome to a fully-digitized world where virtual expositions are providing the essential foreground for convening end-to-end business functions that would have been unimaginable to conduct in the restricted new normal.
Let us now explore how the pandemic has altered the business current in the brave new world:
Changing Customer touch points
The pandemic has seemingly transformed the way customers engage with brands. With physical routes of functioning out of the question during COVID, digital pathways like social media and search engines have become the predominant modes for interacting with customers. So much so, companies are not shying away from making substantial investments for bolstering their digital marketing capabilities. While several companies have somewhat struggled in ensuring the technological transition, it has become clear that enhanced digital prowess is the timely need of the hour.
Therefore, a plethora of companies are launching e-commerce platforms to enable customers to place orders via online pathways. This seminal transition has created the need for developing new proficiencies and skill-sets as companies race to expand their digital marketing prowess by investing in new technologies and hirings. Another noticeable shift in Post-pandemic B2B marketing is the rising inclination for online communication. A Mckinsey report reveals that B2B buyers are increasingly zeroing in on digital channels as a preferred point of contact between them and their potential stakeholders.
COVID-19 has caused the entire business world to relocate to the digital workspace. While this has considerably reduced business-related movement, it has also allowed niche tools and software like Zoom and Meet to emerge as household essentials for ensuring daily operations and meet-ups. Present-day B2B marketing is primarily dependant on cementing virtual relationships as personal interactions are out of bounds during these testing times. Thus, a number of B2B companies and trading enterprises are organizing virtual expositions that are offering novel business opportunities and collaborative ventures in the new normal by generating new leads and ventures.
The coronavirus pandemic has offshooted a complete overnight switch towards remote working. While remote working permits people to work seamlessly from the safety of their homes, it has also raised a number of security issues for companies. At the same time, it has allowed companies to recruit adept professionals from a broader geographical spectrum that has greatly enhanced company productivity by roping in new talent. As more and more organizations drift towards work from home for their employees, the remote working routine has also affected the recruitment processes in companies which are now conducted virtually. While it is true that the pandemic has inevitably ushered a remote working environment across the glove, Industry experts opine that paradigm shift will continue to trend for a substantial number of masses even after the pandemic subsides in the future.
In these turbulent times, companies that made the timely change towards digitization and remote working have managed to thrive while many others perished as they failed to do so. It is extremely critical for brands to shape their campaigns in such a manner that it resonates with their customers in the contemporary post-pandemic context. Companies must aim to connect with their audiences during these times and what better way to engage than the evidently ubiquitous digital modes of virtual networking.
When the pandemic withdraws, it would seem an obvious move for many companies to switch back to their traditional offline origins. However, when it comes to the future, digital is the way to go. As more and more companies come to terms with this fact; it is only a matter of time until we move into a fully-connected and digitized global business vista.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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