Despite the surge of digital market places in the global economy, your clients still require 2 things from you so you can close that big-ticket (often million-dollar purchase deals):
1) human interactions that have handshakes and
2) a reasonable level of understanding about their business reflected in your content.
The SiriusDecisions’ 2015 B2B Buyer Study examined two categories of interactions in the b-to-b buying process: human interactions and non-human interactions. The study identified three phases of the buying process -- education, solution and selection -- and asked b-to-b buyers which types of interactions were most important during each phase.
1. During the education phase, exploring the vendor’s website is the top non-human interaction channel used, while a live vendor-hosted webinar tops the human interaction channel.
2. During the solution phase, where buyers are now comparing different solutions to solve a problem, the channels varied. The internet is now the top non-human channel and meeting with a sales rep is the top human channel.
3. During the final phase, i.e., selection, the top non-human channel used to make the purchase is the vendor’s website and all the human channels are explored to seal the deal, e.g. meeting with a sales rep, meeting with a vendor executive and having a conversation with a vendor product manager or consultant.
Human interaction critical to clinch B2B deals
For B2B deals that are more complex than usual, the human element is very important. Buyers are meeting with reps of provider organizations, whether it's a sales rep, a product manager or an account person. Trust, validation and confidence are important throughout the buyer's journey, and those handshakes still matter.
Based on a research from MPI, 40% of prospects converted to new customers via face-to-face meetings, and 28% of current business would be lost without face-to-face meetings. In a 2009 EventView study of senior executives in sales and marketing, 62% chose event marketing as the discipline that best accelerates and deepens relationships. According to a 2009 Forbes Insights survey of 760 business executives, face-to-face meetings were preferred in cases that have a fluid decision-making process, requiring the give-and-take typically needed for complex decisions and sales. Among the business attributes and outcomes, face-to-face interaction was most critical for persuasion (91%), decision-making (82%), and candor (78%), the study found.
Whether considering a tradeshow, proprietary event, or a mobile tour, face-to-face interactions provide significant business benefits. At its core, face-to-face engagement creates a personal connection and builds trust between a company and its target audience. Giving a warm handshake, carrying an engaging conversation, and getting to know customers and prospects on an individual level can help form stronger, more meaningful, and more profitable business relationships.
In-person interaction fosters engagement and seals your deals. And this is where Arc Media Global can help. Engage our team to help you organise syndicated or tailor-made face-to-face events, platforms and communities to help you form stronger, more meaningful, and more profitable business relationships.