Thriving in the current business landscape hinges on a solid professional network. Engaging with influential decision-makers and thought leaders opens doors to numerous growth avenues. The real challenge, however, is identifying a platform that not only congregates top-tier executives from the most prestigious TOP500 companies but also guarantees interactions that are in sync with your strategic goals.
In the ideal setting, networking evolves beyond casual exchanges to become a hub of strategic partnerships. Imagine participating in 1-to-1 meetings that are not just random, but carefully selected and customized to meet your specific business requirements. This precision in networking saves precious time and ensures that each discussion holds the promise of a lucrative collaboration or a transformative business deal.
Leveraging the Best of Both Worlds with Hybrid Events
The integration of virtual and in-person events has transformed professional networking. Hybrid events offer the convenience of online engagement with the undeniable advantages of face-to-face interactions. This combination meets the demands of today’s professionals for both efficiency and effectiveness, creating a distinctive platform where thought leadership can thrive and brand presence can be amplified.
By diving into these hybrid experiences, companies can draw inspiration from industry trailblazers and uncover strategies that give them a competitive edge. The secret lies in choosing a platform skilled in blending the digital with the physical, ensuring that each encounter is more than just a meeting—it’s a progressive step towards overarching business objectives.
Enhancing Lead Generation Efforts
For businesses focused on growth, lead generation is vital. The ability to consistently draw in and engage new prospects distinguishes successful companies. Yet, generating leads can be a demanding task that requires a strategic and efficient approach to achieve a strong ROI.
Utilizing cutting-edge technology and analytics, the lead generation process can be optimized. Engaging with platforms that excel in setting up pre-qualified meetings with potential leads can significantly expand your lead pool while conserving time and resources. This level of efficiency not only conserves time but also ensures that each lead is closer to becoming a significant business ally.
Promoting Continuous Learning and Development
In the dynamic realm of business, keeping up with emerging trends and practices is crucial. Continuous learning and development go beyond personal enrichment; they are about maintaining your business’s position as an innovator. Interacting with industry experts and learning about upcoming trends can give your business the edge it needs.
Attending events that balance educational content with networking opportunities allows you to glean new strategies and refine your approach to business hurdles. It’s about harnessing the wisdom of industry leaders and converting that knowledge into practical insights for your enterprise.
Guaranteeing High-Quality Networking Interactions
The caliber of your networking interactions can significantly influence the benefits you reap from them. It’s not merely the number of contacts you make but the relevance and potential impact of each interaction on your business objectives. A platform dedicated to superior service ensures that your connections are with the right individuals—those who can genuinely contribute to your business’s growth.
From carefully orchestrated meetings to bespoke event experiences, the emphasis is on fostering an atmosphere where every dialogue is a chance for advancement. This meticulous approach and dedication to excellence differentiate a standard networking event from a transformative business matchmaking journey.
Conclusion: The Strategic Matchmaking Advantage
In the quest for business growth, a standout product or service is just the beginning; what’s equally important is strategic networking and a platform that promotes impactful exchanges. Opting for a platform that specializes in networking, lead generation, and knowledge exchange positions businesses for triumph in a constantly changing marketplace.
Whether it’s through time-saving pre-qualified meetings, insights from industry vanguards, or optimized lead generation processes, the right business matchmaking platform can be a pivotal factor. It’s about making each interaction meaningful and ensuring that your business consistently progresses, one strategic connection at a time.
Networking has always been the lifeblood of business growth and innovation. In today’s fast-paced world, the ability to connect with the right people at the right time can make all the difference. Imagine a platform that not only facilitates these connections but also ensures that every interaction is meaningful and targeted towards your business objectives. This is where the concept of business matchmaking comes into play, transforming the way professionals meet and exchange value.
With Management Events companies can now engage in pre-booked meetings with top industry leaders and decision-makers. This not only saves time but also significantly increases the chances of forming valuable partnerships. The focus is on quality interactions, ensuring that every meeting is with a potential prospect who has been carefully selected based on your business needs and goals.
Building Brand Awareness Through Thought Leadership
Establishing your brand as a thought leader in your industry is a powerful way to gain trust and credibility. Participating in high-level discussions and events puts your brand in the spotlight, allowing you to showcase your expertise and insights. This strategic positioning can elevate your brand’s reputation, making it synonymous with innovation and leadership.
Thought leadership is not just about being seen; it’s about being heard and remembered. By contributing valuable content and engaging in meaningful conversations, your brand becomes a go-to source for information and solutions. This level of engagement can lead to increased brand awareness and a stronger, more loyal customer base.
Maximizing Your Lead Pool with Precision
In the realm of B2B marketing, the quality of leads is paramount. The traditional scattergun approach to lead generation is no longer effective. Today’s businesses require a more refined strategy that targets the right audience with precision. This is where the concept of pre-qualified meetings shines, offering a direct line to potential clients who are already interested in what you have to offer.
By utilizing the latest technology and data, matchmaking services can curate a list of prospects that align with your business objectives. This not only maximizes your lead pool but also ensures that your time is spent engaging with potential clients who have a genuine interest in your products or services. The result is a more efficient lead generation process and a higher return on investment.
Networking with Industry Leaders
One of the most valuable aspects of professional events is the opportunity to network with peers and industry leaders. These interactions can lead to collaborative ventures, mentorship, and the exchange of ideas that drive innovation. A well-structured event provides the perfect environment for these connections to flourish, with tailored networking sessions that bring together like-minded professionals.
Networking in this context goes beyond exchanging business cards; it’s about building relationships that can lead to long-term partnerships and growth. By engaging with other leaders, you gain insights into industry trends, challenges, and opportunities, which can be instrumental in shaping your business strategy and operations.
Discovering Trends and Best Practices
Staying ahead of the curve is essential in any industry. Participating in events that focus on the latest business solutions and trends can provide you with the knowledge and inspiration needed to innovate and stay competitive. These gatherings are a goldmine of information, offering a glimpse into the future of your industry and the strategies that are driving success.
Learning from the experiences of others can also be incredibly valuable. Best practices shared by industry leaders can help you avoid common pitfalls and implement proven strategies that can lead to better business outcomes. This continuous learning process is vital for any business looking to grow and adapt in an ever-changing market.
Ensuring a Solid Return on Investment
Every business activity comes with a cost, and it’s crucial to ensure that the return justifies the investment. With targeted networking and matchmaking services, the likelihood of achieving a solid ROI is greatly enhanced. By focusing on pre-qualified leads and strategic networking opportunities, businesses can see a tangible impact on their bottom line.
Moreover, the time saved by engaging in pre-booked meetings with interested prospects translates into cost savings and increased productivity. When you meet the right people who can help grow your business, every minute and every conversation counts. This efficiency is what sets apart a successful branding and lead generation strategy from a mediocre one.
Networking is the lifeblood of any thriving business ecosystem. For professionals seeking to expand their circle, engaging with industry leaders is a pivotal step. By attending specialized management events, you have the opportunity to connect with decision-makers and influencers who can open doors to new partnerships and opportunities. These gatherings are designed to foster meaningful interactions, ensuring that every handshake has the potential to turn into a fruitful collaboration.
The key to successful networking lies in being at the right place, at the right time, with the right people. Management events provide a curated environment where top executives from the most prestigious TOP500 companies come together. This is where you can share insights, discuss industry trends, and explore potential business solutions in a setting that is conducive to building strong professional relationships.
Embracing the Hybrid Event Experience
In today’s fast-paced world, the fusion of virtual and physical event spaces has become a game-changer. Hybrid events offer the flexibility of connecting with peers and industry leaders without the constraints of geographical boundaries. These events blend the convenience of online platforms with the tangible benefits of in-person interactions, creating a dynamic space for attendees to engage, learn, and network.
By participating in hybrid management events, you gain access to a broader spectrum of thought leadership and expertise. This innovative approach allows for a seamless exchange of ideas and strategies, ensuring that every participant can contribute and benefit regardless of their location. The integration of advanced technology in these events also means that every interaction is enhanced, making every conversation more impactful.
Maximizing Business Opportunities
One of the primary advantages of attending management events is the ability to discover new business solutions and strategies that can propel your company forward. These events are a hotbed for innovation, showcasing the latest trends and best practices that can give your business a competitive edge. Engaging with solution providers and learning from keynote speakers can provide the inspiration needed to tackle current challenges and capitalize on emerging opportunities.
Furthermore, management events are designed to maximize your time and investment. With pre-qualified one-on-one meetings, you can ensure that every discussion is with a potential prospect who is relevant to your business goals. This targeted approach to networking not only saves time but also significantly increases the chances of securing valuable leads and partnerships.
Building Brand Awareness and Thought Leadership
Participating in management events is not just about networking; it’s also a powerful platform for enhancing your brand’s visibility and establishing thought leadership within your industry. By engaging in panel discussions, presenting case studies, or simply sharing your expertise during networking sessions, you position yourself and your company as authorities in your field.
This visibility is crucial for building trust and credibility with potential clients and partners. As you contribute to the discourse and offer valuable insights, your brand becomes synonymous with innovation and leadership, making it more attractive to those looking to do business with the best in the industry.
Leveraging Tailored Content and Insights
At the heart of every management event is the content that fuels conversations and drives innovation. These events provide access to a wealth of knowledge, from cutting-edge research to case studies and success stories. By tapping into this resource, you can stay ahead of the curve and ensure that your business strategies are aligned with the latest industry developments.
Moreover, the insights gained from these events are not just theoretical. They are practical, actionable, and tailored to the challenges faced by today’s leaders. Whether it’s through workshops, seminars, or roundtable discussions, you’ll leave with a clearer understanding of how to navigate the complexities of your industry and drive your business towards greater success.
Ensuring a Solid Return on Investment
Attending management events is an investment in your professional growth and your company’s future. The connections made, knowledge acquired, and visibility gained all contribute to a solid return on investment. By carefully selecting events that align with your business objectives and preparing to engage actively with other attendees, you can maximize the benefits of your participation.
Management events are more than just gatherings; they are catalysts for growth and innovation. By leveraging the opportunities they present, you can forge lasting relationships, stay on the cutting edge of your industry, and drive your business to new heights. The investment of time and resources in these events is a strategic move that can yield significant dividends for your professional and organizational development.
As the corporate landscape evolves, the art of networking has undergone a significant transformation. The traditional handshake and exchange of business cards have been supplemented by dynamic, technology-driven interactions. In today’s fast-paced world, management events have become a cornerstone for fostering meaningful B2B relationships, offering a blend of innovation and efficiency to top leaders and decision-makers.
These gatherings are not just about making connections; they’re about creating value and understanding the pulse of the industry. By leveraging the latest in digital platforms, these events provide a seamless integration of virtual and in-person experiences, ensuring that every interaction is both memorable and productive.
Strategic Matchmaking in Professional Circles
One of the key components of successful B2B networking is the ability to connect with the right people. Strategic matchmaking at management events is designed to align industry leaders with relevant solution providers. This targeted approach ensures that every meeting is pre-qualified, maximizing the potential for fruitful business partnerships and collaborations.
Utilizing cutting-edge technology and data, these events facilitate pre-booked meetings that save time and fast-track the networking process. Attendees can focus on the conversation at hand, knowing that their meeting partners have been carefully selected to align with their business objectives and interests.
Continuous Learning and Industry Insights
Management events is more than just networking hub; we are incubators for learning and innovation. We provide a platform for thought leadership, where attendees can gain insights into winning strategies and future trends. The exchange of ideas at these events often sparks inspiration, driving the industry forward and fostering a culture of continuous improvement.
Speakers and solution providers at these events are carefully chosen for their expertise and influence. They offer valuable perspectives on best practices and emerging challenges, equipping attendees with the knowledge they need to stay ahead of the curve in their respective fields.
Building Brand Awareness and Leadership
For businesses looking to elevate their brand, management events offer a unique opportunity to showcase thought leadership and industry authority. Participating in these events positions companies as forward-thinking and engaged with the latest developments in their sector. It’s a strategic move that can significantly enhance brand visibility and credibility among peers and potential clients.
By contributing to the discourse and sharing expertise, businesses can set themselves apart, not just as service providers, but as innovators and leaders in their industry. This level of engagement is invaluable for long-term brand building and establishing a reputation as a key player in the market.
Maximizing Lead Generation and ROI
In the realm of B2B networking, the ultimate goal is to generate leads that convert into tangible business opportunities. Management events are designed with this objective in mind, offering a fertile ground for lead generation. The curated environment of these events means that every interaction has the potential to contribute to a solid return on investment.
By meeting with decision-makers from TOP500 companies and engaging with influential industry leaders, businesses can significantly expand their lead pool. The focused nature of these events ensures that time and resources are invested wisely, leading to higher conversion rates and a stronger bottom line.
Networking Beyond Boundaries
The revolution in B2B networking is not confined to the walls of conference rooms. Management events provide ongoing opportunities to connect with industry leaders throughout the year. This continuous engagement allows for the development of deeper relationships and a more robust professional network that extends beyond the event itself.
Whether it’s through follow-up meetings, digital content, or interactive sessions, the connections made at these events continue to grow and evolve. This enduring network serves as a valuable resource for businesses, offering support, collaboration, and a shared vision for success in an ever-changing corporate landscape.
For professionals navigating the B2B landscape, the ability to forge meaningful connections is paramount. At the heart of successful business-to-business interactions lies the art of networking—a skill that, when mastered, can lead to unparalleled opportunities and strategic partnerships. In the realm of management events, where industry leaders and decision-makers converge, the potential to expand your professional network is immense. By engaging in these events, you have the chance to interact with peers, share insights, and lay the groundwork for future collaborations.
Effective networking in such settings goes beyond exchanging business cards. It’s about creating a memorable impression and establishing a rapport that extends past the initial handshake. To truly benefit from these interactions, it’s essential to approach each conversation with genuine interest, actively listen, and follow up with a tailored communication that reflects the mutual benefits of a potential partnership. This approach not only fosters trust but also positions you as a thought leader within your industry.
Maximizing Opportunities Through Hybrid Events
In today’s fast-paced business world, hybrid events have emerged as a game-changer for B2B networking. These events blend the best of both virtual and physical worlds, offering a flexible and efficient platform for connecting with like-minded professionals. By participating in hybrid management events, you can engage with a broader audience, access cutting-edge industry knowledge, and discover innovative solutions that can drive your business forward. The key to success in these environments is to leverage the technology at your disposal to schedule meaningful interactions and make the most of every encounter.
Hybrid events also provide the unique advantage of accessibility. Regardless of your location, you can tap into a global network of industry experts and potential clients. This level of access is invaluable for businesses looking to expand their reach and influence. To ensure you’re maximizing these opportunities, it’s crucial to prepare in advance by researching attendees, setting clear objectives for each meeting, and utilizing the event’s resources to facilitate seamless connections.
Strategies for Effective B2B Lead Generation
Lead generation is the lifeblood of any B2B enterprise, and management events are fertile ground for identifying and nurturing potential leads. The key to effective lead generation lies in understanding the needs and challenges of your prospects. By engaging in meaningful dialogue and demonstrating how your solutions align with their objectives, you can create a compelling value proposition that resonates with your target audience. Additionally, by staying abreast of industry trends and best practices, you can position your offerings as not just relevant, but essential.
Another crucial aspect of lead generation is the follow-up process. Post-event communication should be timely, personalized, and reflective of the conversations you’ve had. This not only shows that you value the connection but also keeps your brand top-of-mind. Utilizing a strategic approach to lead nurturing, which may include sharing insightful content or extending invitations to exclusive webinars, can further solidify these budding relationships and increase the likelihood of conversion.
Enhancing Brand Visibility in a Competitive Market
In the crowded marketplace of today, standing out is more important than ever. Management events offer a unique platform for enhancing brand visibility among a targeted audience of industry leaders and decision-makers. By actively participating in these events, whether as a speaker, sponsor, or attendee, you can showcase your expertise and elevate your brand’s profile. It’s not just about being seen—it’s about being remembered for the right reasons.
To truly make an impact, it’s essential to convey a consistent and compelling brand message across all touchpoints. This includes everything from your event booth design to the content you share during presentations. By aligning your brand’s values with the interests and challenges of your audience, you create a strong connection that can lead to increased brand loyalty and advocacy. Remember, in the world of B2B, your reputation is your currency, and management events are an excellent opportunity to invest in that reputation.
Learning and Inspiration: The Catalysts for Growth
One of the most underrated benefits of attending management events is the wealth of learning and inspiration they provide. These gatherings are a hotbed for the exchange of ideas, strategies, and experiences that can catalyze growth and innovation within your organization. By keeping an open mind and actively participating in discussions, you can gain insights into emerging trends, discover new approaches to problem-solving, and find inspiration in the success stories of your peers.
Furthermore, these events often feature thought leaders and industry pioneers whose knowledge can be transformative for your business. By absorbing their wisdom and applying it to your own context, you can stay ahead of the curve and maintain a competitive edge. It’s not just about collecting information—it’s about translating that information into actionable strategies that drive your business forward.
Networking with Precision: The Power of Pre-Booked Meetings
Time is a precious commodity, and in the world of B2B networking, it’s crucial to use it wisely. Management events that offer pre-booked meetings are a testament to the power of precision networking. By arranging meetings with pre-qualified prospects, you can ensure that every interaction is purposeful and has the potential to yield tangible results. This targeted approach not only saves time but also increases the efficiency of your networking efforts.
Pre-booked meetings also allow for better preparation, as you have the opportunity to research the individuals and companies you’ll be meeting with in advance. This preparation enables you to tailor your discussions to address specific needs and interests, making for more productive and engaging conversations. By capitalizing on the focused nature of these meetings, you can build a pipeline of high-quality leads that are more likely to convert into lasting business relationships.
There comes a point for most businesses regardless of the industry, when they strive to expand beyond their home markets. Some are looking to attract different audiences by introducing new products, others are looking to reach new geographical frontiers.
While the ambition to grow is only natural, market penetration is becoming more and more challenging given the rise in competition, constantly changing customer behaviour and demand for better and faster services and products, and the rapid growth of technology forcing companies to be more innovative and disruptive in entering new markets. It is therefore important to understand and evaluate your company’s strengths and weaknesses, as well as determine key opportunities and risks in order to help you gain a broader sense of where you stand against your rivals and which market penetration strategy would be best for your business.
Analyze your company
It is best to start with self-reflection – take an objective look at your company and try to determine whether you are ready to expand, and what could be the areas you may want to strengthen. Here are some relevant questions that can help with the analysis:
Define your new target market through research
Should you sell to the same target group but in a different location?
Should you change the target group?
What is the demand for similar products and services in this new market?
Is there a need to glocalize your product?
Is there sufficient demand for your products and services in the new market?
Define your competitive advantage
How long has your business operated in the industry?
How long has your average competitor been in the industry?
Where can your product add more value than your competitor product?
In what aspects are your products or services weaker than those of your competitors?
How do your competitors price their products and services?
A detailed market research will give you solid background information to decide if market expansion to this specific location is the right decision at the moment.
Let’s assume you’ve done your due diligence, and you’re sure it’s time to expand.
Below you will find a few market penetration strategies to choose from, as well as pros and cons of each.
Gaining New Audiences With Penetration Pricing Strategy
As businesses continue to grow, there is greater competition to enter a new market. That being said, the penetration pricing strategy is one of the standard approaches adopted by companies to boost their initial sales.
Fundamentally, penetration pricing strategy is an act of reducing product and service prices as you enter a new market with the objective of attaining new customers quickly. The entry price is always relatively cheaper compared to the average market price. This gives customers the ability to try your product with less financial risk
This strategy focuses on gaining market share over profits until the business is perceived to have matured in the new market. The cycle is: start by generating demand, create customer base and eventually maximize brand loyalty over time. Many large businesses have used this tactic to revolutionize and become market leaders today.
For instance, Netflix, an online video streaming service originally started in the US, has successfully penetrated the markets of 190 countries since its first year of going international in 2010. Although it has multiple international expansion strategies, Netflix started in the new markets with a relatively low price with significant benefits considering subscribers have access to more tv shows and movies compared to renting videos. With an ever growing subscribers of 167.1 million across the world, they just recently announced a price increase in the monthly subscriptions as the company is deemed as matured despite multiple new players competing in the market, like Amazon Prime Video, Hulu, and Disney+.
Benefits
Easier customer acquisition
Entering the market with prices that are significantly lower than the competition will undoubtedly attract the attention of potential customers. You’d be able to achieve a large number of initial sales to start making the product or service profitable
Reduced Competition
Penetration pricing can help you compete against other market players at below-average market price until you gain brand recognition and customer loyalty. You’d be able to eventually increase your price again once your brand has matured in the market.
Risks
Price war
There is always a chance of starting a price war with your competitors if they decide to undercut you on pricing.
Damage to brand image
Penetration pricing has the possibility of impacting your brand reputation. The low price of a product can often be associated with lower quality, and with penetration pricing strategy you are risking to start off with positioning yourself as a cheaper brand in a new market.
Getting On The Inside With Strategic Partnerships
Entering strategic partnerships with other companies is another approach to take into account if you want to penetrate a new market effectively. You’d be able to grasp first-hand essential knowledge about the market in all aspects like cultural, social, business, language, and more. Few types of strategic international partnerships would be joint venture, acquisition, franchising.
Depending on the type, partnerships can go beyond sharing market knowledge and also include sharing branding efforts, resources, marketing, and distribution channels.
Kroger, an American retail company, is one of the companies that chose to expand by partnering with Alibaba, China’s e-commerce giant. Kroger brought their products to Alibaba’s platform aiming to meet the growing demand for high-quality organic food among Chinese consumers. Eventually, Kroger has managed to scale up quickly to reach new customers and markets. Shortly after this massive announcement of Alibaba partnership,shares of Kroger Co. were reported to spike by 2.8 percent.
Benefits
Speed up entry into a new market
You can easily reach customers and avoid initial challenges and hassle of establishing new business by getting into alliance with already existing companies that have their own pool of loyal customers in the market.
Organizational learning
Knowledge sharing is usually an essential part of strategic partnerships. Your company gets to know about your partner’s best practices and vice versa, so both businesses benefit from collaboration.
Risks
Conflicts
There is a risk of various conflicts that can arise between partnering businesses at different stages of their relationship. It could be conflicts based on cultural differences or conflicts of interest – in any case these should be considered at the stage of discussion of partnership terms and necessary precautionary measures should be put in place.
Loss of autonomy
Shared decision making and wider accountability with more partners and stakeholders need to be considered, as well as information sharing – with more people having access to your sensitive information, the risks of data leakage is increasing.
Getting Brand Exposure and Credibility Through B2B Events
Another strategy worth considering is to partner with a B2B event relevant to your product or service. This is a shortcut to introduce your business to a new market and to meet your target audience directly.
Businesses often sponsor events such as trade shows, exhibitions, networking events organized by associations or nonprofit organizations to attain specific business potential and increase their competitive advantage. Presenting your company and product or service at these events can help effectively introduce your brand to the new market and allow you to get a better understanding of your target audience’s needs and challenges.
Take a look at Benify, an HR tech company based in Sweden, that met one of their big clients, Lidl Sweden, at Management Events 600minutes Executive HRand after successfully completing a project in Sweden, has expanded into The Netherlands and is now looking at another contract with Lidl in the US. Benify had the opportunity to meet targeted prospects, like the HR Director of Lidl Sweden, through Management Events’ B2B networking platform in a series of matched 1-to-1 meetings. The meetings allowed them to gain a deeper understanding of their prospects’ challenges and at the same time to showcase how their solution can help. Such personalized networking and 1-to-1 communication can establish a stronger connection between the solution provider and their prospects potentially leading to years of fruitful collaboration
Benefits
Build awareness
Partnership with a B2B event could expose your business to a wider and more relevant audience and create a positive association with your brand. It is an additional benefit when event organizers provide exposure of the partner companies in their official website and across social media channels, giving you a wider digital outreach.
Meet the right people
Knowing your target market is the core of your marketing strategy, but once you’ve identified your “ideal prospects”, it can be a challenge to reach them. If you partner with a relevant industry event that is likely to attract your ideal clients, it can be a great opportunity to directly connect with your niche target audience.
Gain exclusive audience insights
Partnership also gives you audience insights that include, but are not limited to, insights during, pre-and post-events. For example, with an established event provider such as Management Events, the sponsors are provided with trend reports prior to the event with an outlook on the issues facing the attendees. This knowledge may be of benefit to your representative in order to customize solutions and determine the correct approach to the sales pitch.
Become a knowledge leader
Often, event partners have the opportunity to deliver a presentation during the event and share valuable insights about the latest technology solutions. Through a presentation like that, you can establish a stronger perception of your brand and company representatives and solution experts and knowledge leaders in the field.
Risks
Power of first impression
Trying to impress a potential client at a B2B networking event means you will have only one opportunity to make the right impression. Even if you have a 1-to-1 meeting scheduled with the prospect, there will be time constraints, which means you need to do your research and make sure you thoroughly prepare for the pitch. Luckily, some event organizers can help. For example, at Management Events we always provide an industry report to our partners that identifies investment priorities of our participants and helps both event partners and attendees to have a meaningful conversation.
No guaranteed returns
Of course, partnering with an event doesn’t guarantee you closing a big client right away. However, you will get great brand exposure, extensive networking opportunities within your target industry and high-quality leads that could potentially turn into strong connections and long-term business relationships. Particularly for a company that is not known in a new market, this could be a great first step to venture in.
Transitioning a prospective customer into a purchasing client is the most difficult yet rewarding part of a sales process, and Jenny Swartling Pizarro, the Head of Sales Large Enterprises Sweden at Benify, knows that the first step to building a strong business relationship starts with that all-important initial contact with a prospect.
Through the unique networking opportunities of Management Events’ 600Minutes HR events, Jenny can directly connect with top-level HR executives and other business leaders.
One such decision-maker whom Jenny engaged with is the HR Director of Lidl Sweden, a company that has since signed a deal with Benify to implement their solution in Sweden and the Netherlands.
Benify – A Global Benefits and Total Rewards Platform
Benifyis an HR tech company that offers a global platform for benefits, total rewards, and employee communications with more than 1,500 customers and over 2 million users around the world.
Their solution helps employers create an exceptional benefits and rewards experience while reducing benefits administration, automating processes, radically improving the communication of their employee value proposition, and ensuring better data governance and management of benefit and reward costs.
Benify’s platform and employee app have reinvented the way modern employers engage with their employees, winning multiple awards such as the GOLD Stevie® Award for Global HR Solution Provider of the Year 2020 and the Bronze Stevie® Award for Achievement in HR Technology 2020.
The Initial Meet-Up
Jenny has represented Benify at the yearly 600Minutes HR events for approximately 6 years.
“At 600Minutes Leadership and HR in 2018,” Jenny recounts, “I had my first personal meeting with the HR Director of Lidl Sweden.”
Lidl Sweden is a food wholesaler, offering a range of Swedish and organic products with foreign delicacies and a varied range of goods for the whole home.
“It turned out that the director had read a report of ours on the benefits awareness gap,” Jenny continues, “so [the event] was a great place to start the conversation.”
“Lidl wanted to digitize their processes regarding employee benefits,” Jenny explains, “to make their benefits more transparent and accessible, as well as create opportunities to offer more benefits than they already did.”
She further elaborates that, “Their investment in a Benify platform was also part of a larger effort to make Lidl the best employer in their industry.”
Building The Relationship
The communication between Jenny and Lidl Sweden’s HR Director didn’t end at the event but continued to develop into a lasting business relationship.
“At 600Minutes Leadership and HR, we decided to book another meeting after the event,” Jenny relates, “which led to a pre-study and eventually a signed deal to implement our platform for Lidl’s more than 4,200 employees in Sweden.”
“After having happily used the Benify platform in Sweden for about a year, Lidl decided to also implement our solution for their 15,000 employees in the Netherlands.”
Relations between the two companies are going strong, and Jenny expresses that, “If [the Netherlands’ solution implementation] turns out as successful as the Swedish example, we are looking at a potential cooperation with Lidl across the entire Europe and the US.”
Business Growth With ME
As a 6-year-and-counting representative of Benify at the 600Minutes HR networking events held yearly by Management Events (ME), Jenny points out many benefits of the unique event concept.
“[The events] have given me opportunities to engage personally with HR directors and other relevant stakeholders from large enterprises that are otherwise difficult to get in touch with,” Jenny confides.
“The 15-minute meetings are very effective,” she declares. “Each representative specifies their interest areas beforehand, e.g. recruiting, employee benefits, or digitization, so you can prepare and focus on what you want to get across. It’s almost like B2B speed dating.”
Moving With The (Hard) Times
Due to the COVID-19 pandemic, Jenny says that an increasing number of employers are seeing the value of Benify’s product in these challenging times, and are ready to invest again.
“With many physical events canceled, we were happy to partake in the digital version of 600Minutes,” she conveys.
“The atmosphere in the meetings was relaxed as most people were participating from their own homes. You held the full attention of each representative and were able to share your screen. It was easy to establish personal contact and get a good conversation going. All in all, a very positive experience.”
An Arena Of Opportunities
Overall, Jenny believes that Management Events offers a great arena for solution providers to meet with relevant stakeholders.
“In several cases, the initial contact at 600Minutes has led to further meetings, where we have been able to present our solutions more in-depth, and then perform customized pre-studies that in turn have resulted in signed deals.”
Customer experience – a crucial impression of a customer towards your company that can either make or break the brand.
From the early days of trading to the modern business era, customer experience (CX) retains as one of the most important aspects of a successful business. However, while many companies know why customer experience is important, they lack the strategy and technology to fully optimize their customers’ experience.
TOPdesk, a supplier of service management software in the Netherlands, shares its thoughts with Management Events on how organizations can provide great customer service experience.
A Snippet of TOPdesk
A provider of service tools, TOPdesk started in 1993 and has since garnered 10 million active users.
With 15 offices worldwide, the company offers service solutions that include enterprise service management, IT service management and facility management. TOPdesk also provides consultancy, tailored implementations and support to help their clients in service delivery.
DEFINING CUSTOMER EXPERIENCE
Different companies have distinctive definitions of customer experience. For TOPdesk, customer experience is a combination of culture, capabilities, and systems.
“The three aspects work in tandem, therefore, lacking in one of these areas results in tarnishing the customer and supplier relationship.”
Harvard Business Review echoes this sentiment, stating that oftentimes businesses either don’t have the systems and technology, processes and operational capabilities, or most importantly, customer-centric organizational culture.
TOPdesk also voices the vitalness of customer-centricity in a company, expressing that, “The client values interactions with a vendor that go beyond the services they provide. This is where company culture comes in.”
“Working in partnership with clients allows us to have a better understanding of the customer to drive continual improvement of products and services based on their needs.”
PUTTING CUSTOMERS AT THE CORE
In the past, customer experience and satisfaction were thought to be attained by the product itself or by the service given during the sale. What companies failed to realize at the time was that every encounter with a customer, from raising brand awareness to aftersales, is crucial in building and nurturing client relationships.
Today, businesses have to go even further in order to become a truly customer-centric organization, especially amid the COVID-19 pandemic.
“Being customer-centric means focusing on the client’s needs and adapting based on these. And we believe that creating an open dialogue with the customer is key.”
“This is the best way to get to know each and every customer, creating a personal connection, and understanding what they expect from us as an organization.”
“Facilitating this open conversation means taking an outside-in approach instead of inside-out – using customer feedback to drive changes and improvements.”
For TOPdesk, one of the most important characteristics of a customer-centric organization is transparency.
Other key characteristics include a highly engaged team that exists to learn, share knowledge, and form partnerships.
“Without the entire team buying into this method of service delivery, it is impossible to succeed.”
CUSTOMER EXPERIENCE EXCELLENCE OF TODAY
Over the years, there have been many customer experience optimization strategies with the core focus on building relations. But how is customer experience today? What has changed?
“While nurturing and serving customers has always been at the forefront of service delivery,” TOPdesk reveals, “the changes we have seen are in this being a priority during the initial stages of the sales funnel to the entire customer journey.”
“It’s no longer enough to just provide a service. It’s now expected that we go the extra mile.”
“For example, talk with each customer about how they define a successful relationship and involve them in shaping the process.”
This practice is highly encouraged at TOPdesk as the company understands the importance of providing a space for customers to share experiences with one another.
“This can come in the form of a customer event where clients can share stories, projects, and get new ideas to enhance their service experience. Or setting up a call between two customers in need of help and advice, or writing a case study to further promote their journey.”
Another key customer experience excellence trend is customer journey mapping, both internally and with the customers themselves. At TOPdesk, the customer journey maps look beyond the implementation of a tool to how they can continually support clients by identifying gaps.
“Service delivery is never ending. We must always be looking for ways to improve our offering and share our knowledge.”
ENHANCING DIGITAL CX CAPABILITIES
The arrival of the digital era brought great changes to the field of customer service, increasing organizations’ ability to maximize customer experience through technological innovations.
“The digital landscape offers a lot of scope when it comes to delivering great customer experience.”
TOPdesk observes that, “Digital tools provide an outlet for collecting both qualitative and quantitative data to influence improvements in customer experience.”
One example TOPdesk provided was their use of digital surveys to get product feedback, which can be passed onto the stakeholders in product development to prioritize enhanced features.
The company further believes that digital resources are also key for achieving great customer experience, naming podcasts, webinars, virtual events, blogs, ebooks, and case studies as top sources to help customers expand their knowledge and utilize their service better.
TOWARDS SEAMLESS CUSTOMER EXPERIENCE
With the multiple channels and stages of customer service, companies need to ensure that they provide a seamless customer experience throughout the entire customer’s journey.
As Forbes stated in their article, “Customers who love your solutions buy more and become natural brand advocates [while] customers who have a poor experience with your brand will take their money to your competitors. It is critical to provide a seamless and unforgettable customer experience across the various channels your brand uses.”
That’s why TOPdesk has experts at every touch point along the journey.
“For example, at the beginning of the TOPdesk sales cycle, our account managers must be attentive and be able to answer any commercial questions the customer may have.”
“Then, when implementation of the tool begins, a consultant must be on hand to provide knowledge, assist learning, and give advice on processes.”
“Once the typical sales cycle and implementation is complete, the customer support shouldn’t end.”
“This is where the TOPdesk customer success manager comes in. The customer success manager will reach out on a regular basis, is always available for a call, and able to triage any questions or problems to the right person or team.”
“Additionally, the TOPdesk support team is able to work harmoniously alongside the customer success manager, offering quick and effective technical solutions to ensure that the customer experience isn’t tainted by issues with the tool.”
However, TOPdesk emphasizes that internal communication is also crucial in order for the customer journey to be truly seamless.
“This way, everybody will understand the customer’s needs and be able to take the right approach in their service delivery.”
IMPROVING CUSTOMER EXPERIENCE
Customer service is continually evolving because customers themselves are constantly changing. Therefore, it’s essential for all businesses to be ready to make customer experience improvements, whether on the product or the level of service.
“TOPdesk values the feedback of our customers dearly, whether it’s service or tool-related. Via labs, we regularly consult our clients on new functionalities before they are released.”
“We also want to know how customers experience our support services and, therefore, ask for feedback after every incident.”
“Recently, the support team was rated out of 10 for: customer friendliness (9.6), knowledge level (9.4), and solution time (9.6).”
TOPDESK CX APPROACH
The first impression that a customer gets from a brand is crucial, regardless of which stage of the sales funnel they come in. At TOPdesk, customer experience starts at the first moment of interaction, not when they sign the papers and become a client.
“From the beginning of the sales funnel, we are focused on how each individual aspect of the TOPdesk tool can enhance the experience of an organization, its employees, and clients.”
“Our customer success managers are there to make sure that our customers are having the best possible TOPdesk experience, both with the software and the company.”
“We understand that people don’t want to have to rely on a service provider every time they come across a problem, which is why we strive to make our clients self-reliant: using the train-the-trainer approach.”
“But it doesn’t stop there – we encourage TOPdesk users to empower their customers through an accessible self-service portal and comprehensive knowledge base.”
TOPdesk is always looking for new ways to improve, and they want their users to do the same.
“We carry out health checks and maturity assessments to provide customers with the knowledge of where they’re at, what projects to take on, and how they can grow.”
TOPdesk upholds three core pillars, which make up the company’s DNA and shape the way they deliver services: standard and simple, shared service management, and service chain integration.
“We believe these are fundamental to the experience and satisfaction of our clients, therefore we aim to excel at each pillar to provide superior customer experience.”
Sales and marketing professionals often deal with clients and their representatives who, more often than not, have little decision power. And after all the negotiations and verbal agreements, you hear them say that they’ll need some time to present the deal to their supervisors.
And then there are moments when you lose the contact and end up having to start from scratch, which can be extremely frustrating. Going through the motions of finding that contact again can cost you precious time that could have been better spent on getting another client.
This is why it’s important to be able to quickly identify and prospect the right C-suite executive, thus improving your chances of sealing the deal.
Prospecting Top-Level Clients For B2B Sales
Usually, for B2B sales, C-suite executives have the final decision power as they are the ones who’ll be cutting the paycheck. However, thinking that a C-suite will always agree for a meeting with you is impractical. You have to smartly identify high-level clients in the deal and work to get them included in the negotiation process. In this article, we’ll look at some of the ways you can identify and connect with key clients online.
1. Be prepared and know what you’re offering
The first step you should take in online prospecting is to be well-versed in your product. Knowing your solution in minute detail will not only prepare you for all lines of product questions, but it will also help you to identify the right top executive for your particular product.
This is especially true for products that are made solely for a single department or function, where you need to identify the correct client for the product or you’ll end up wasting your efforts.
As C-suites are a busy group, it’s hard to get them to agree for a short online meeting. So when you do get the chance to connect with them, you need to utilize it to the fullest and be quick on your feet. Thus, having complete knowledge of the product is necessary for effectively capturing your prospect’s attention and making a lasting impression.
2. Identify decision makers by their common qualities
As you become more experienced in the sales environment, you’ll learn to identify decision makers by some of their common qualities. Certain aspects, such as their title or tenure, can give you a clearer picture of their decision-making power. And with more and more business leaders having online profiles on professional networking platforms, finding the right prospect for your solution is easier than before.
A surefire way of identifying decision makers is through LinkedIn. Using the site’s proprietary search filters and common connection feature, you can search for anyone in an organization and access their information like their titles and role in a company.
To further narrow your prospecting search, you can also view the business networking groups or online discussion boards that your target clients are participating in. These can provide valuable insights in their business needs and objectives that may be related to your product or the pain points that your solution can solve.
3. Know everything about the company
Identifying your prospects is not the end of your prospecting. Once you have confirmed your target client, you need to learn as much as possible about their company. From the organizational chart to the firm’s mission and industry trends, the more research you perform on the company, the more targeted and in-depth your sales pitch will be.
Especially in B2B sales, knowing the industrial needs and challenges your prospect faces can guide you in generating a personalized sales pitch that better fits your targeted prospect’s objectives. With ample online news portals and market research platforms available, be sure to read up on the latest news and trends of your prospect’s organization and industry.
Understanding the organizational structure will also help you to pinpoint other decision makers that might be involved in a sales purchase. Certain major business decisions may involve multiple stakeholders so be sure to include this possibility in your prospecting strategy to prevent any surprises or hiccups in your sales process.
4. Don’t be afraid to use your connections
In a B2B environment, the biggest resource for increasing prospects is the existing customer pool, which lets you identify and meet C-suite executives more effectively. Data indicates that having a referral can significantly increase your chances of getting a meeting with a B2B prospect by 50%. With a strong referral, you’ll know exactly who the actual decision makers are and can approach them with complete confidence.
Professional referrals are not the only way to approach a potential C-suite client. Dorie Clark, the author of ‘Reinventing You’ believes that finding a common friend can significantly increase your credibility. “When a friend makes the introduction, the person you want to meet will view you as a colleague, someone like them, rather than a stranger impinging on their time,” says Clark.
In LinkedIn, for instance, you can easily see if you are connected to your prospect through a 1st-degree contact. Whether your connection is a mutual friend or a business associate of your target client, that extended connection can be utilized as a starting point to building relations.
5. Work your way up
More often than not, the people that will help you identify your prospect are the gatekeepers and assistants. In addition to being the trusted resource of a C-suite, these gatekeepers and personal assistants can be a great source of information for you. This is another way how the organizational chart and profiles of company employees can prove useful in your prospecting.
For example, when viewing the LinkedIn profile of your prospects, take note of other company staff that they are connected to and keep an eye on their job title. Employees with titles such as Executive Assistant or Secretary usually work closely with the C-suites, and can aid in connecting you with your prospect.
By building a rapport with them, you’ll be able to find out more about the responsibilities and the strategies of the decision makers. You’ll also be able to use that information to identify the correct decision makers and take pointers on how to keep the C-suite engaged during a meeting.
6. Don’t be afraid to ask questions
Finally, remember that it’s alright to ask questions from your point of contact in the organization.
Everyone likes to show outsiders that they are important but it can be insensitive (and more importantly, unprofessional!) to ask someone if they are the decision maker in the company. However, you can be smart about it and extract the information you need through other means.
When prospecting for your client, and once you have established a closer relationship, you can ask questions in your online chats and meetings like ‘What does your supervisor expect from this transaction?’ or ‘How long will the approval process be?’ By asking these questions, you can get a fair idea of how much power your current point of contact has and how much work you’ll have to do to finalize the deal with the company’s C-suite.
Conclusion
B2B sales have evolved greatly from simple cold calling and lead generation, shifting further into digital strategies. In the current times, you need to be even more efficient and vigilant due to the tough competition in the market, and fully utilize the benefits of the online landscape. Maximizing your online prospecting combined with online sales strategies will give you that extra boost in gaining quality leads and increasing your competitive position.
