In light of the widespread pandemic, marketers expect that virtual events will continue to take place even after normalcy returns.
With the pandemic induced lockdowns and social distancing norms, most of the business events had to be postponed or called off. In its essence, the marketing functionalities have gone entirely virtual, globally. Businesses leaders expect in-person events will not see much traction– even after COVID-19 is gone.
According to the latest study by The 614 Group, nearly 71% of marketing and media professionals think virtual conferences will be the only preference for businesses in 2020 and beyond that. The study unveils the latest pulse on what business operations will be like in the marketing sector. Though virtual events are effective, the lead generation and networking still remain tricky to facilitate amid the virtual marketplace.
The report (second wave) titled, “Future of the ‘In-Person’ Business Economy” indicates the mindset of B2B professionals about virtual business events and meetings – with an almost 12% surge in the opinion than the earlier report. Besides, marketers expect virtual elements to remain in priority – even when live events resume. There was a 36% rise in this opinion to the same query asked in the ‘spring’ report.
The in-person events are most likely to see a lasting impact as more organizations are focusing on networking events and virtual socialization to boost their social ties. Moreover, even when the live events will start off, it is expected that organizing bodies to offer a virtual component.
This opinion is getting a firm, ground as the business leaders who believe this has increased (by more than one-third) within the past few months of the first survey. Virtual events are strengthening the morale of marketers and maintaining the obligatory social ties – including innovation and socialization.
Virtual meetings are productive when they are centered on product demonstrations, proposals, and follow-ups. Most people are positive about attending virtual events; however, a primary challenge is – the lack of networking opportunities. Many business professionals often prefer attending expos or live events precisely to build their networks.
In the case of sales and lead generation, brands are experimenting on their business development steps via online events only. This is still impacting the marketing as well as advertising enterprises industry that used to rely on in-person contact and on personal relationships to generate business.
Clearly, virtual events are here to stay and for long. Thus, marketers need to uncover innovative ways to network virtually and meet prospective clients. This will benefit them in the long run as more businesses have accepted the “new normal” positively.