Although virtual events have shown to be a useful tool for delivering content to attendees, there is still much work to be done to link buyers and suppliers. In this post, we’ll look at the various methods you may assist customers in finding the best items and making wise decisions about their purchases.
While face-to-face interactions have always been the preferred method for buyers to conduct business transactions, the trend is currently moving towards a multichannel sales strategy to offer an omnichannel experience. Whether physical, virtual, or online marketplaces, consumers want to have as many convenient options as possible to find and purchase things.
In a McKinsey & Company poll, 8 out of 10 B2B decision-makers said that omnichannel was “more effective than earlier approaches,” and 41% said that online marketplaces were the most popular method for buyers and sellers to connect, ahead of in-person (37%) and video (31%). Sales models are becoming more hybrid in nature as purchasing has shifted to omnichannel. Customer engagements now frequently involve both face-to-face visits and phone and video chats.
To proceed further, let’s understand how virtual platforms benefit the BSM industry.
Principal Advantages Of Virtual Selling
Virtual appointments can be more effective than in-person ones in several respects, including greatly reducing travel expenses. Or the fact that you can speak with your clients or potential customers in just a few minutes. Let’s examine some of the primary advantages of virtual sales meetings.
Cost-effective: Spend less on events and travel
Attending face-to-face sales meetings, networking functions, or trade exhibitions can be extremely expensive due to travel expenses. These can be completed remotely to save time and money. Virtual communication was once seen as a low-cost alternative, but things started to shift before the epidemic. The popularity of remote and mixed work models, however, has significantly altered this way of thinking.
Attending face-to-face sales meetings, networking functions, or trade exhibitions can be extremely expensive due to travel expenses. These can be completed remotely to save time and money. Virtual communication was once seen as a low-cost alternative, but things started to shift before the epidemic. The popularity of remote and mixed work models, however, has significantly altered this way of thinking.
Easy management: Schedule appointments from anywhere
A significant benefit that virtual platforms bring into the purview of B2B and BSM industry is the higher ease of management as compared to the physical counterpart. When it comes to identifying the core areas of importance in a Virtual B2B or Buyer Seller Meet, scheduling appointments well in prior to the event along with getting live updates on the status of the buyer and seller are amongst the priorities. According to McKinsey, 80% of B2B buyers would like to communicate with sales representatives online. This keeps the pipeline streamlined and the stakeholders prepared for the meet well in advance.
A significant benefit that virtual platforms bring into the purview of B2B and BSM industry is the higher ease of management as compared to the physical counterpart. When it comes to identifying the core areas of importance in a Virtual B2B or Buyer Seller Meet, scheduling appointments well in prior to the event along with getting live updates on the status of the buyer and seller are amongst the priorities. According to McKinsey, 80% of B2B buyers would like to communicate with sales representatives online. This keeps the pipeline streamlined and the stakeholders prepared for the meet well in advance.
Time-saving: Quicker closures
You can meet with more customers because you don’t have to wait to travel to the client or customer and can organise a meeting at short notice, and subsequently close more sales. You can freely speak to three fresh prospects in addition to your one client, increasing your opportunity for sales. This is particularly true when selling intangible goods that may be accessed and hosted online. For instance, SaaS sales don’t even require the potential customers to install any software. The item is available right away.
You can meet with more customers because you don’t have to wait to travel to the client or customer and can organise a meeting at short notice, and subsequently close more sales. You can freely speak to three fresh prospects in addition to your one client, increasing your opportunity for sales. This is particularly true when selling intangible goods that may be accessed and hosted online. For instance, SaaS sales don’t even require the potential customers to install any software. The item is available right away.
Easy Rescheduling
Virtual B2B and Buyer Seller Meets come with an added benefit of providing the leverage to the either side to reschedule the meeting as per convenience. On the contrary, in a physical event, cancelling a meeting due to lack of virtual implementation costs massively to both the buyer and the seller. Virtual counterpart not just saves money but allows the parties to reschedule and connect from anywhere at anytime. Hence, there are no longer any missed appointments as a result.
Virtual B2B and Buyer Seller Meets come with an added benefit of providing the leverage to the either side to reschedule the meeting as per convenience. On the contrary, in a physical event, cancelling a meeting due to lack of virtual implementation costs massively to both the buyer and the seller. Virtual counterpart not just saves money but allows the parties to reschedule and connect from anywhere at anytime. Hence, there are no longer any missed appointments as a result.
How to Make Virtual B2B/Buyer Seller Meets Better
Organize yourself and plan your meetings
Be careful to prepare a meeting approach, be aware of what to anticipate, and anticipate any questions your clients may have. Be prepared, organised, and have a clear structure in mind to avoid being inundated with meetings or leaving with no results. Give your customer explanations of the distinctions between virtual and actual appointments as well as how you will handle your appointment. It is essential that your customer is aware of what to anticipate as they will likely meet several other sellers.
Be careful to prepare a meeting approach, be aware of what to anticipate, and anticipate any questions your clients may have. Be prepared, organised, and have a clear structure in mind to avoid being inundated with meetings or leaving with no results. Give your customer explanations of the distinctions between virtual and actual appointments as well as how you will handle your appointment. It is essential that your customer is aware of what to anticipate as they will likely meet several other sellers.
Focus on relationship building and make it interactive
Building relationships is one of the most important components of any physical or virtual B2B and buyer seller meet. Making your customers feel at ease and maintaining a cheerful attitude are therefore crucial during the meeting along with keeping the virtual meetings lively and interesting as well. Your sales presentation can benefit from some visuals and breakout sessions. Keep the agenda as clear as possible by adding quality content, but try to keep it brief to prevent audience disengagement.
Building relationships is one of the most important components of any physical or virtual B2B and buyer seller meet. Making your customers feel at ease and maintaining a cheerful attitude are therefore crucial during the meeting along with keeping the virtual meetings lively and interesting as well. Your sales presentation can benefit from some visuals and breakout sessions. Keep the agenda as clear as possible by adding quality content, but try to keep it brief to prevent audience disengagement.
Virtual selling is evolving into the new standard and won’t be going away anytime soon. The pandemic-related changes in behaviour appear to have persisted. The preference for digital encounters among consumers makes it more crucial than ever to modify and future-proof your operations. With better events technology at hand these challenges can not only be rectified but can help grow this industry to new heights. Virtual event platforms like the ibentos provide superior Virtual B2B meeting and Virtual Buyer Seller Meet technology to help organizers collate thousands of brands, buyers and sellers from across the world under one roof. Instant appointment prescheduling, handy buyer and seller descriptions along with real-time updates of buyer arrivals and live meeting updates allow easy management of the entire event at a much affordable price. The changing paradigms of the way brands and consumers deal in the post-pandemic market has laid the path for a future that stands strongly on the technology that boosts a virtual world that has the potential to accommodate every domain upto some extent under its purview, the B2B and BSM industry is not different.
Read more | Virtual Conferences – The 2021 Guide
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