Posted on

Mastering B2B Networking: Insights from Management Events

The Art of Building Valuable B2B Relationships

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.

Posted on

The Future of B2B Networking in the Tech Industry

Revolutionizing Connections in the Digital Age

As the tech industry continues to evolve at a breakneck pace, the way businesses connect and forge partnerships is undergoing a significant transformation. The digital landscape has become the new frontier for B2B networking, where innovative platforms and virtual environments are becoming the norm. These advancements are not just changing how we communicate, but also enhancing the efficiency and effectiveness of business interactions.

Companies are now leveraging sophisticated technologies to facilitate seamless networking experiences. From AI-powered matchmaking systems to immersive virtual events, the digital tools at our disposal are making it easier than ever to connect with like-minded professionals and industry leaders. This shift towards technology-driven networking is not only expanding the reach of businesses but also providing them with valuable insights and opportunities for growth.

Hybrid Events: The Best of Both Worlds

The concept of hybrid events has taken the tech industry by storm, offering a blend of physical and virtual networking opportunities. These events cater to the diverse preferences of attendees, allowing them to engage in meaningful conversations, whether in-person or online. The flexibility and accessibility of hybrid events have proven to be a game-changer, ensuring that geographical barriers no longer impede the exchange of ideas and collaboration.

Management Events is at the forefront of this trend, orchestrating events that harness the power of both digital and physical realms. By doing so, they provide a platform for decision-makers and solution providers to interact in a dynamic environment. This approach not only fosters a sense of community among participants but also paves the way for strategic partnerships and knowledge sharing.

Enhanced Matchmaking through Technology

The use of advanced algorithms and data analytics has revolutionized the matchmaking process in B2B networking. Tech companies are now able to identify and connect with potential partners with unprecedented precision. This data-driven approach ensures that the time spent in networking activities is highly productive, leading to more meaningful connections and potential collaborations.

With a focus on efficiency, Management Events utilizes cutting-edge technology to pre-qualify meeting participants, ensuring that every interaction holds the promise of mutual benefit. This meticulous preparation not only saves time but also maximizes the potential for successful business outcomes, making every meeting count.

Continuous Learning and Growth

In the rapidly changing tech landscape, staying abreast of the latest trends and strategies is crucial for success. B2B networking events have become invaluable sources of knowledge, providing attendees with insights into emerging technologies and market dynamics. These gatherings are not just about making connections; they’re also about learning from industry experts and thought leaders.

Management Events recognizes the importance of continuous learning, curating content that keeps participants informed and inspired. By bringing together the brightest minds in the industry, they facilitate a flow of ideas that can lead to innovation and strategic advancements within companies.

Building Brand Awareness and Thought Leadership

In the realm of B2B networking, establishing a strong brand presence and thought leadership is essential. Networking events offer a unique platform for companies to showcase their expertise and build their reputation among peers. By engaging with other industry leaders and sharing insights, businesses can position themselves as authorities in their field.

Management Events provides the stage for companies to elevate their brand and demonstrate their thought leadership. Through carefully crafted events, they enable businesses to connect with their target audience, share their vision, and ultimately, influence the direction of the industry.

Maximizing Return on Investment

One of the primary goals of B2B networking is to achieve a solid return on investment. By participating in well-organized events, companies can ensure that their networking efforts lead to tangible results. The strategic connections made during these events can open doors to new business opportunities, collaborations, and long-term partnerships.

Management Events is dedicated to delivering top-quality service that translates into a significant ROI for their clients. By facilitating the right connections and providing ongoing support, they help businesses grow and achieve their objectives, proving that strategic networking is an investment worth making.

Posted on

7 B2B Networking Mistakes & How to Avoid Them

B2B networking is one of the pillars of sales and marketing. In fact, the closing rate for customers obtained via business networking is 40% (Hubspot). Mastering the art of B2B networking is essential for every sales professional to build relationships with potential customers, learn about new opportunities, and stay ahead of the competition.

However, it can be a tough task as there are some B2B networking mistakes that even experienced salespeople might make that can them valuable time and resources. Fortunately, with every challenge there are solutions.

 

1. Being Unprepared

 

The worst thing you can be at a networking event, either virtual or physical, is unprepared. Not knowing who might be attending or the agenda of the events will lead you to uninteresting, surface level conversations. More importantly, you need to know which attendees are within your target market is so you can focus on networking with the right people. In sales, a buyer persona is your biggest asset and can lead to a 171% increase in sales for companies as they understand who their target market is (Zipdo).

In that vein, doing a little research on the specific people you want to network with at events will save you a lot of time and give you the best opportunity to connect with the right people.

Steps:

  • Request a list of attendees prior to the event (if possible) and research them and their companies. Look up any interviews they might have done and find out about their latest projects. This can help spark conversations.
  • Make a shortlist of who you’d most like to meet and connect with them on LinkedIn before the event.
  • Make a note of the interesting sessions at the event, especially those related to your product or services, so you can attend and find attendees to connect with who were interested in the same session.
 

2. Overselling

 

Networking is a skill that requires subtlety and precision. A salesperson who turns every conversation into a sales pitch and only talks about their own products and services is setting themselves up to fail.

Instead, focus on active listening – that’s a big part of communicating and forging a connection. People want to know that their needs and challenges are heard. Listen to understand and tailor your responses accordingly. Networking is about building relationships, not making a sale.

Steps:

  • Begin a conversation by asking about specific topics that were discussed at the event.
  • Guide the conversation towards their needs, challenges, and interests in that area.
  • Ask open ended questions and listen attentively so you can ask relevant follow-up questions.
 

3. Fumbling Your Introduction

 

A big challenge of networking events, especially in-person ones, is the limited time you may have to speak to everyone. There’s a lot of movement and social interactions happening, which means you must make a good impression immediately or risk losing people’s interest.

Something as simple as a firm handshake can provide a good first impressions for 72% of people who are meeting in-person. Approaching with confidence is also key as 70% of communication is non-verbal. Your posture, demeanour, and how you choose to approach someone will set the tone for the rest of the conversation.

Steps:

  • Prepare two to three simple introductions you can use when meeting people that will set you apart. Make sure to include who you are, what you do, and your interest. End the introduction with a question for the person you’re talking to that will push the conversation forward.
  • Prepare conversation boosters you can call on when needed if an interaction seems to be struggling. These should be open ended questions about their interest, current events, or share experiences.
  • In a virtual setting, you can include a link to your LinkedIn profile or website as part of your introduction.
 

4. Being Inflexible

 

When attending any networking event, be it virtual or in-person, you will meet all kinds of personalities. A style of approach that works on one person may not work for another, which means you must be flexible in your style of communication.

Attention is key. If you notice someone only speaks up when asked different questions, do that. There may be those who prefer talking about current events or others who prefer exchanging business cards first before talking about anything. You need to be adaptable and mirror the style of the person you’re networking in – that is how you can build trust and familiarity. This is especially true for in-person networking which professionals agree gives them the ability to read body language and facial expressions (77%) which can lead to building stronger business relationships.

Beyond that, Gitnux found that 80% of B2B buyers expect a B2C-like experience, which tends to be more personalised. This is where you can shine, by adjusting your style to suit the person you’re talking to.

Steps:

  • Pay attention to how the person speaks and their body language to mirror their stance and subtle movements.
  • Listen actively and adjust your tone, pace, and language to match the person you’re engaging with.
  • If you notice that the person you are talking to is disengaged, politely excuse yourself and offer a business card as a gesture of good faith. Do not take it personally.
 

5. Ending A Conversation Abruptly

 

How you end a conversation is just as important as first impressions. It’s your final chance to make a mark with the person you’re talking to and sometimes, it can be exactly what they remember you for. Fumbling your exit is a B2B networking mistake that can undo all the great work you’ve done so far to cultivate a professional connection.

If you remember to do just one thing, let it be an offer to connect on social media such as LinkedIn or Facebook, which are the two largest platforms used by business professionals. In fact, 35% of businesses professionals note that a conversation on LinkedIn has led to fresh opportunities including business partnerships. Make the most of that.

Steps:

  • Make sure to give out your business card, if you hadn’t already, at the end of the conversation. When receiving a card, make sure to accept graciously and stow it away in a separate pocket from your own.
  • Thank them for their time and insight. Tell them you enjoyed the chat and recount any key points that stood out to you.
  • Keep it light, friendly, and suggest a follow-up conversation or meeting. Offer to connect on LinkedIn.
 

6.  Mishandling Business Cards

 

Though it may seem arbitrary in a digital age, business cards are still an important element of B2B networking. Exchanging them is a sign of respect and a quick way to exchange contact details. Research suggests that 63% of people throw away business cards within 7 days of receiving them, but that sales still increase by 2.5% for every 2,000 business cards handed out. It’s a numbers game that you can win by giving out your cards to as many people as possible.

On the other hand, what you do with business cards that you receive is equally important. Receiving a business card isn’t just an exchange of contact details, it’s an invitation to stay in touch. You do not want to mishandle that gift and risk losing the connection you just made.

Steps:

  • Give out your business card while clearly pointing out any personal contact details such as a personal phone number or extension.
  • When you receive a business card, take a pause to look at it properly and ask a question about the information on the card i.e the company’s location, the person’s title, the design of the card.
  • Ensure that you place the business card in a separate pocket or card holder to keep it from getting mixed up with your own.
 

7.  Not Setting a Follow-up

 

The whole reason for networking is to create connections and grow possibilities. This is especially true given that 69.7% of attendees consider in-person B2B conferences as the best opportunity to lead about new products or services (Bizzabo).

So not following up on connections made while networking is essentially letting a lead go cold. All that work would have been wasted otherwise. It’s also important not to start follow-up with a sales pitch.

Steps:

  • Before exiting the conversation, make sure to offer connecting on online by exchanging LinkedIn profiles and/or email addresses.
  • Offer to meet again sometime soon to share more insights on the conversation you were just having. If you sense potential, invite them to schedule a one-to-one meeting.
  • Make sure to follow-up within the first 48 hours to thank them for their time. Reference a point in the conversation you had and make it clear that you are happy to continue the conversation.
Posted on

Tia Jähi, KONE: Finding the Right Partner & Partnering Right

From cost fluctuations to accelerated digital transformation, business leaders are faced with a crucial responsibility of managing organizational resources smartly to stay competitive and at the forefront of development.

The plethora of IT solutions designed to optimize businesses drives the need for better IT vendor management and data-driven decision-making to maximize an organization’s potential. As an indispensable tool to IT leaders, vendor management is a complex and challenging task fraught with potential pitfalls.

We spoke to Tia Jähi, KONE’s Head of Business IT about the organization’s supplier management approach, and how to cultivate rewarding partnerships with vendors in the long run.

 
Tia Jähi is an IT leader for the renowned elevator company, KONE with the mission to improve the flow of urban life. She has served various roles in the company since 2012 and is experienced in vendor management and relationship management, with a focus on cost optimization, efficiency, and creating a culture of collaboration. Currently she is leading IT for KONE Europe.
 

How has your strategy for IT supplier management evolved over the last few years, especially with the rapidly changing digital environment?

 

The past years have been quite change-intensive with the pandemic, remote working, digital advances, and the consolidation of the supplier market. We have seen quite significant changes to the technology suppliers consolidating, and the market overall.

When it comes to the impact of this on strategy, it’s about being very active in monitoring the changes and creating a new outlook, because there have been cases when some of our core technologies have merged into other providers. We have close relationships, so when something happens, we can have the dialogue to ensure continuity of priorities.

Additionally, we also create transparency to our pipeline. For example, when we’re working with Supplier A which then goes through a merger or change in the market, perhaps expanding their scope, we are not just reviewing them as a supplier for technology in area A but also as strategic supplier. We open our roadmap from the perspective that even though we are currently doing business in this area, there are other core areas we could be investing in and that leads us to broadening our discussions. Of course, this applied especially to strategic suppliers.

 

In your experience, what are the most important components of a successful supplier relationship?

 

I often say, the first thing is about finding the right partner and running your RFIs and RFPs, but it’s not the hardest part. For example, if we think about services providers in the IT space, there are many world class players, most of whom are capable of doing the job. Then, it’s about our priorities and what’s right for the moment. After that, the work starts.

The more important and difficult part is partnering, and this happens regardless of whether it’s a strategic or preferred partner. It’s not just a relationship based on KPIs and monthly reports or spending. It’s about having intimacy on all levels.

Partnerships are not just selecting a vendor; you need to be a partner too.

This leads to my earlier point about sharing your roadmaps with your partners. You also need to understand their KPIs and expectations. If they’re entering a new market, for example, you need to be ready for them as well. Only then can you really build a sustainable, long-term, mutually beneficial relationship.

I was once asked how I would handle a quality issue with a supplier. The textbook answer would be to monitor SLAs and apply the penalties. That’s what you can do contractually. But you are not any better off even if you get service credits because you still have a problem. This is where partnering right comes up. We need to jointly understand the root causes of the issue. Is there attrition in the team? Immaturity in the technology? Depending on the relationship, what effort do I need and am willing to put in?

For example, we’ve seen, in the past year, both in the partner and corporate landscape that there has been huge attrition and turnover in certain geographies. I have to decide if this is something I want to invest more effort into – such as onboarding new team members. Again, it may contractually be the supplier’s responsibility to ensure the right quality of competence, but we’re both suffering. So do we jointly battle against attrition? It’s about making sure the teams are integrated and the supplier’s team feels like they are part of this company as well.

We do quite a lot of team building with our internal and supplier teams. In our part, we are investing in the relationship and in creating a joint vision for the whole team. To me, that is partnering right.

It boils down to getting people engaged and leading with a vision and a motivating view of the future.

This doesn’t only apply to colleagues on your payroll. We extend our recognition practices to our supplier teams as well. I think this is a core success element that should be considered, especially when we’re outsourcing part of the work more and more. It creates certain benefits without fully taking away leadership responsibilities.

 

What was one unexpected challenge you have faced when dealing with a supplier, and how did you overcome that challenge?

Of course, you need to be prepared for everything. But one example is the acquisition of technology suppliers, where all of the sudden you enter a new relationship with a new provider who has acquired a technology supplier you’ve been working with. There might be questions and concerns about their other customers, such as are they working with our competitors?

There may even have been some cases when these deals are announced publicly, so you become aware of the significant change via a press release. This raises questions. Are your counterparts still in place? How do you extend the relationship to the new leadership?

The other challenge comes with the Great Resignation following the pandemic. Especially with our colleagues in India, we’re seeing attrition numbers in double digits. Again, it’s a joint challenge that must be addressed.

 

What is your best advice to other IT leaders and C-level executives when it comes to creating a successful supplier management strategy?

 

It comes down to first understanding your data. We have done significant exercises, starting from the purchase order level, to figure out who the suppliers are, where we are spending, and what are the future strategic opportunities. Then, creating a segmentation framework and starting to draft down.

From the C-level, it’s about having commitment to things like executive sponsorship for strategic suppliers. If we have great engagement all the way from the executive board, then when we consider having a company as a strategic partner, it comes all the way from the executive board. That gives us participation and helps build relationships. Of course, there are the core principles, such as governance, that will differ based on the layer of the suppliers. Either way, there has to be skin in the game at every level.

Looking at the different approaches you could take with strategic level suppliers, it’s about investing time and sharing roadmaps. They need to feel like a strategic partner, and they need to feel that you are a strategic partner to them with opportunities and a joint vision.

It’s also about looking at chances to consolidate. When you have over 100 suppliers, not everyone can be strategic. But if you look more into the niche or smaller players, are there opportunities there for consolidation down the line? Maybe consolidation might be beneficial from a cost management perspective.

Essentially, start with three tiers of partners: strategic, preferred, and others before starting to understand the data.

 

Can you talk us through KONE’s  process of coming up with a clear supplier selection criterion?

 

Depending on the scope, volume, and newness of the initiative, we usually start off our own education journey with an RFI round to understand the market and purify our requirements, as well as get to know the technologies and capabilities available.

With the RFP process, we have a firm framework. Then it comes to candidate assessment. Here we create a visible comparison between the first-round suppliers and decide which ones to move forward with.

For example, with selecting a technology supplier, functional requirements are very important. But equally important are non-functional requirements from the perspective of cybersecurity, privacy, performance, global reach. There’s also the cost and cost of total ownership as well as their potential as a partner.

We do this rating transparently with a broad internal team. But the weight of each factor can change. For example, functional requirements may be worth 50% of the total evaluation with the other parts being smaller. Either way, we utilize the framework and fit it to the initiative we are working on.

Of course, there may be a clear answer from the ratings. but there are also soft elements to consider that may play a role as well. This is the partnership aspect. Do we believe in their roadmap? Are they innovators or a basic provider?

It’s not just about finding the right partner but partnering right.

We have made bets that have turned out to be very successful today, where a supplier may have equal functionalities, but we chose one over the other because of their technical design and future orientation.

You can’t distill everything into an Excel that gives you a number that is the answer. Even in this phase of partnership, you must invest time to truly understand them.

*The answers have been edited for length and clarity.

Posted on

How to Elevate Your Branding at B2B Events

A strong brand presence is imperative as it builds awareness, credibility, and trust among your target audience. Companies with strong branding also inch closer to being top-of-mind solutions for potential customers. Additionally, increased brand awareness can result in significant returns over time.  

It takes an average of 5 to 7 impressions for a brand to become memorable (Action Card). Therefore, it’s vital to explore branding opportunities on different platforms. B2B events in particular offer significant branding opportunities.  

Here are ways to elevate your brand presence at both virtual and in-person B2B events.  

 

IN-PERSON EVENTS

Networking 

A B2B buyer is still a human buyer at the end of the day. Therefore, networking at in-person B2B events is a great way to grow your brand organically. For instance, ME Matchmaking customers can attend full-day invitation-only local events where you can meet and network with hundreds of top-decision makers in the region under one roof.  

Networking allows your customers to put a face to your brand.  

They may not always remember your company name, website address, or product offerings; but they are more likely to remember your face, name, and conversation. Therefore, it’s important to make a good first impression and put your best foot forward at these events.  

If possible, contact the event organizers and ask if they can share the list of attendees with you. That way, you can shortlist a number of people you want to speak to so you’re more prepared at the event. You can also comb through the event agenda and take note of interesting panel discussions, presentations, and keynote speeches you want to attend. That will allow you to establish common ground and connect over the session with the people you meet.  

On-site Branding  

Catapult your branding by exploring partnerships with authoritative organizations that have earned the respect of your target audience. For example, ME Matchmaking offers a variety of on-site branding opportunities at in-person flagship events attended by leading C-level decision-makers from Top500 companies across Europe. On-site branding can include logo visibility on stage backdrops and banners, as well as opportunities to distribute brochures about your services, and even a chance for on-the-spot product demos.  

One more angle to consider is to position your brand as a subject-matter expert and a trustworthy knowledge partner by sharing your expertise. For example, if you’re partnering with an AI event, find out if there are speaking opportunities where a representative can speak about an AI-related topic, present a case study, or join a panel. This is a great way to get your brand out there to hundreds of decision-makers at once who are already interested in AI applications.  

According to Harvard Business Review, 64% of people cite shared values as the main reason they have a relationship with a brand. It’s also important that your brand shows personal value over business value, as B2B customers are more likely to consider a brand if it does. 

 

VIRTUAL EVENTS

Join relevant webinars 

54% of C-level decision-makers doubt a brand’s credibility due to lack of comprehensive information (KoMarketing).  

Therefore, your brand needs to have a strong digital presence.  

Other than content creation and social media engagement, make sure to join relevant webinars to build your brand and gain unique insight into your customers’ needs.  

For example, if your company develops cloud software, try to join cloud-related virtual insights-sharing sessions. Similar to in-person events, explore opportunities to not only join relevant webinars but to be a host or a speaker for increased exclusivity and visibility. In virtual and physical spaces, you can position yourself as a knowledge expert on a specific topic to build trust among decision-makers.  

Be active and engaging 

Utilize online channels to communicate with other virtual event attendees. For example, use the chat box to ask questions to the other participants and get to know them better; and eventually introduce yourself and your brand. Have a look at the attendees and connect with them on other platforms such as LinkedIn.  

Other than networking with virtual event attendees, consider online branding opportunities at these events. For example, ME Matchmaking by Management Events offers coveted logo placements during virtual insights sessions about topics that are popular among C-levels and are relevant to your brand.    

 

PICK THE RIGHT EVENT

As there are plenty of B2B events to choose from, do your research and attend the right events so your branding efforts don’t go to waste. Your research should include considerations such as: 

  • Scale: Are you interested in attending small events with less than 100 attendees or events with hundreds of people? The event chosen must be tied to a purpose, whether it’s to introduce a new product or network.  
  • Format: There’s a wide range of business events from intimate forums and dinners to exhibitions and trade shows. Go back to your needs as well as your budget, as you will most likely need to pay to enter those events.  
  • Industry: Check the agenda of the event carefully to ensure that it’s beneficial to the industry your company is in. Is it related to your company and service? Is it of interest to your target audience?  
  • Topics: If there are panel discussions and presentations, make sure the topics are of value to you and your target group.  
  • Attendees: Find out who has attended or spoken at past events – dig deeper to find out their seniority and job functions too.  

Once the event has been chosen, set clear goals: 

  • Define your target audience and ensure that the decision-makers in your target group are at those events. 
  • Establish a solid brand message – Be familiar with the USPs that your product can offer to your target audience.  
  • Prepare your team to represent the brand – Go through talking points, digital business cards, printed materials, and more. 

Lastly, have a strong presence at the event, and remember to practice active listening during your conversations with your prospects. 

Posted on

How C-levels are Networking in 2023

As the saying goes, “It’s not what you know, it’s who you know.” With so many changes hitting the business landscape in the last three years, we see the shift towards new ways of networking among C-level executives where an increasing number of top managers prefer virtual and hybrid formats of consuming content and building new connections.

 

1. THROUGH INSIGHT-GENERATING WEBINARS

As in-person events became impossible in early 2020, we saw C-level executives massively turn to webinars and various forms of online events. Today, CxOs still enjoy the benefits of online video content. For example, members of Aurora Live Executive Business Network find the virtual insights sessions useful with an average rating of 4/5. Some of the functions that make webinars appealing are:

  • The possibility to join from anywhere, anytime, or watch the recording later.
  • The chat function to make instant connections with a larger audience than a typical in-person event would allow.
  • The option to engage with speakers through live Q&A sessions, and upvote the most interesting questions from the audience making sure only the most interesting topics are covered.
 

2. JOINING VIRTUAL BRAINSTORMING SESSIONS

The need to exchange insights with a circle of peers hasn’t decreased, and the virtual spin-off on panel discussions, round tables, and moderated group discussions have gained massive popularity due to their efficiency and convenience. Also, studies show that 40% of executives network more online than in person as there’s less pressure and more flexibility (Fit Small Business). According to our data, 80% of C-level executives find moderated peer-to-peer discussions useful.

Jumping into a quick moderated discussion in between work meetings allows you to:

  • Quickly and efficiently connect with peers from different industries and countries.
  • Exchange ideas, experiences, and solutions on pressing topics affecting your industry in the time it takes to finish your morning coffee.
 

3. ATTENDING VIRTUAL INSPIRATIONAL & GROWTH KEYNOTES

Today’s CxOs are prioritizing personal development as much as professional growth. Not only do they want to gain new skills but develop new mindsets to become better leaders. Therefore, many C-levels find joining inspirational keynotes by world-renowned speakers valuable, especially in the hybrid world because:

  • It’s convenient and more accessible as more talks are hosted online.
  • They can connect with other attendees who share the same challenges.
  • Our data shows that 400 CxOs attended our event featuring inspiring talks from Duncan Wardle and Mel Robbins and gave a speaker rating of 4.9/5.
 

4. CONNECTING VIA IN-PERSON GATHERINGS AND ACTIVITIES

Although virtual networking elements have many advantages, CxOs prefer to socialize with their peers in person. Studies also show that 97% of attendees prefer in-person meetings of below 10 people (Forbes). Networking in non-business settings has gained popularity among C-levels such as wine tastings, cooking classes, and fine dining. Social get-togethers present:

  • Opportunities to form a closer bond with your peers over a shared interest or hobby.
  • A fun way to strengthen and maintain business relationships.
 

5. MEETING VIRTUALLY WITH POTENTIAL VENDORS

Another innovation introduced by the pandemic is virtual sales meetings. Here’s why they’re here to stay:

  • Many CxOs prefer initial meetings with solution providers to be online as it helps them swiftly identify if the solution offered has any relevance to their business.
  • 85% of C-levels are more eager to join a 30-minute virtual meeting rather than an in-person meeting (LinkedIn).
Posted on

How Sales Professionals Can Make the Most Out of B2B Networking Events

As a B2B sales professional, your network is one of your most significant assets. Not only is networking essential in building professional relationships, but it’s also a gateway to long-term partnership opportunities. With a variety of B2B networking events today, it’s important to know what to do for successful networking in different settings.

Here’s how to make every second count at in-person and virtual B2B networking events.

 

IN-PERSON EVENTS

From small casual networking events to large summits, in-person B2B events bring hundreds of C-levels from different industries under one roof. These events provide opportunities to network with your target audience in one place. Keep the following tips in mind to make a great and lasting first impression:

DO YOUR RESEARCH

  • If possible, request a list of attendees before the event, especially if you are a partner or sponsor of the event.
  • Do some research on the attendees and shortlist 5 to 10 decision-makers you would like to meet.
  • Connect with them on LinkedIn and introduce yourself prior to the event.
  • Having an online connection gives you a reason to approach them at the event and is a good way to break the ice.
  • Try your best to scout people in the crowd and be the first to start a conversation.
  • Find a common interest by joining events that revolve around a specific event or experience such as golf or fine dining.
  • It’s easier to start a conversation with someone when both of you have something in common that is not work-related. People are more relaxed and are more likely to remember you as a natural connection has been established.
 

GET FAMILIAR WITH THE EVENT AGENDA

Check out the full event schedule and:

  • Take note of interesting panel discussions, presentations, and keynote speeches you want to attend – especially if they relate to the product you’re offering.
  • After a session, try to start casual chats with decision-maker attendees about a specific topic or speaker. Ask them about their opinion on the topic and whether it’s a challenge for their organization. Learn what kind of solutions they are using or looking to invest in to solve those challenges.
  • If the conversation goes well, offer to keep in touch and add them on LinkedIn.Send them a message thanking them for their time and that it was good to meet them.
 

PRACTICE ACTIVE LISTENING

  • Do the opposite of selling – listen and try to understand the pain points of the decision-maker.
  • Be fully present and be genuinely curious about what they have to say.
  • With that information, relate it back to how your product or service can help them.
  • Settle on a few key points on how your product or service benefits your customers. Know them by heart so you’re always prepared when you need them.
 

VIRTUAL EVENTS

Although they are not networking events at first glance, virtual events gather like-minded decision-makers in one place and offer significant networking opportunities. The most popular types of virtual events are webinars or insight-sharing sessions. Here are a few tips for effective virtual networking:

JOIN RELEVANT WEBINARS

  • For example, if your company develops cloud software, try to join cloud-related virtual insights-sharing sessions.
  • Register for the webinar and add it to your calendar immediately so you don’t forget it.
  • Attending webinars related to what your company does gives you a broad picture of the interest areas and challenges of your target audience without having to ask them directly.
 

UTILIZE THE CHAT BOX

  • Be an active participant and use the chatbox to ask questions and engage with other participants.
  • Check if the list of participants is available in the chat box or online platform – they may contain valuable information such as names and contact details.
  • Strike up a conversation during and after the session has ended. You can bond over the session topic and tie it back to your company.
 

SEND A FOLLOW-UP MESSAGE OR EMAIL

  • Take the opportunity to move the conversation elsewhere after connecting with participants through the chat function.
  • Send them a follow-up email or message on LinkedIn and book an online call if you feel there is potential for business.
Posted on

7 Tips to Rock Your Virtual 1-to-1 CxO Meetings

With customer satisfaction being the number one measure of sales success (Salesforce), sales professionals are having to constantly step up their game to stand out and close deals. This is increasingly difficult at a time when you must fight for people’s attention which is being pulled in every direction by compelling pitches.

So, once you have secured that 1-to-1 virtual meeting with a C-level prospect, you need to not only be interesting and engaging, but you must also be efficient – the people you are meeting do not have time to waste, after all.

So, how do you maximize a virtual meeting, especially if it is only 15 minutes or less? How can you get the most out of your limited time with a prospect? How can you set yourself up for success in a meeting room?

You excite. You impress. You follow up.

Here are some tips to help elevate your performance in a 1-to-1 virtual meeting with a CxO:

 

1. Know your prospect, know your product

Alexander Graham Bell once said, “Before anything else, preparation is the key to success”.

It is always good practice to brush up on your prospect’s organization and needs, as well as what you can offer them specifically. Think about what makes your offer better than any others and design your pitch around that.

If the option is available, you may also want to prepare an agenda and send it over before the meeting, along with instructions on the video conferencing platform and schedule. This will allow attendees to be prepared for the virtual meeting and be as productive as possible throughout the session.

Even if you do not send an agenda to your prospect before the meeting, it is good for you to have one for yourself – a game plan for the structure of the conversation based on the goal you are trying to achieve.

Agenda Example: HR Software Pitch Meeting

In this meeting, you are pitching your company’s HR employee management software to a potential client who is looking to upgrade their legacy systems.

Meeting goal: Explain HR Software packages to a CHRO of Big Company

  1. Warm-up and introductions. Run through meeting agenda.
  2. Clarify what the prospect is looking for.
  3. Explain how your product works and how it can benefit your prospect.
  4. Q&A about your product, if any.
  5. Discuss the next steps – what does your prospect need to do next?
  6. Set up a follow-up meeting.
  7. Wrap up & summarize actions required.

Having an agenda sends the message that you know exactly what you are there for and that you value your prospect’s time. Before you even meet them, you are making a good first impression by exercising efficiency and professionalism.

 

2. Do a pre-meeting technical check

With a virtual meeting, technical difficulties are inevitable. To mitigate any problems and ensure that the meeting is as smooth as possible – and that you are not wasting precious minutes trying to solve a glitch – do a pre-meeting technical check.

An hour before your meeting, check that you:

  • Have a stable internet connection
  • Have a functioning microphone and camera
  • Have a charger that is connected (if using a laptop)
  • Have access to the meeting platform
  • Know how to present your slides/materials

You should also consider where you are setting up for the meeting – are there background noises? Will there be people walking in and out of the room? You should pick a space that will allow you to have a smooth meeting with little to no disruptions.

These are things you should do at least an hour before your meeting so that you have time to sort out any bugs or find a different space to set up, if necessary. Starting out a meeting with technical difficulties on your end will not breed confidence.

 

3. Enter the room early

It’s a no-brainer that punctuality makes a good impression, both online and offline. In a virtual meeting, it is even better etiquette to be early so you have time to sort out any kinks that may crop up at the last minute on either end. Despite your pre-meeting technical check, you may encounter unforeseen issues. Being early in the room will give you time to fix any issues.

Being the first one in the virtual meeting room also conveys preparedness and reliability. After all, it is a long-established belief that most people make a first impression within 7 seconds of meeting someone – and you want to make the most of that by putting your best foot forward.

 

4. Warm things up

When you start out your meeting, do not jump straight into business. Take a minute to break the ice. Get everyone comfortable and warmed up. It will work to your advantage if both sides are relaxed and engaged.

This is also when you can go over the meeting structure and expectations.

  • What are your agenda and expectations?
  • What are the prospects’ agenda and expectations?
  • How long will this meeting be?
  • What is the intended outcome?

It is important to swiftly go through these points to ensure that everyone knows what to expect from each other. It will also help both sides stay focused on the agenda throughout the meeting.

 

5. Keep it concise

When you are meeting with C-level prospects, a great meeting is a concise one. Do not waste time on overly detailed background information about your company or yourself. You are there to tell the prospect how you can improve their business.

One way to do this is to keep your presentations to just one slide with the most relevant and specific information. You may also include a useful case study. Avoid a multiple-slide deck that is packed with every bit of information you can find. Instead, focus on your prospect and what you can offer them. 

There are several formulas for creating a winning pitch but one example by Forbes is the three-part pitch:

A powerful step you can add to this formula is to talk about the decisions that need to be made after this meeting. This is your push for action. Whom does your prospect have to talk to in their organization about your product? What other information do they need from you?  

 

6. Wrap up with actions, decisions & conclusions

Once your meeting is over, do a quick wrap-up. Mention any future actions and decisions that need to be taken following this meeting, on both sides. Include soft deadlines for these because it will things keep moving forward. A lack of a timeline for the next step can end up stalling your discussions altogether.

A summary is crucial to ensure that your presentation is clearly understood and that everyone is on the same page about what they need to do next. This is also the point in the meeting when you will have the chance to confirm potential follow-up meetings.

 

7. Follow up!

Your job is not done when you leave the virtual meeting room. Rocking your meeting also means putting in effort afterward to follow up with the person you spoke to. Particularly in B2B sales, this is something that should take place within 24 hours of your meeting. It can be something as simple as a note or an email. You will want to thank them for the conversation, provide a short recap of what was discussed, and book follow-up meetings if needed.

Be careful not to make the email or note too casual and with a lack of focus. Consider the client’s needs and be as concise as possible.

Pro Tip: Connect on LinkedIn as well! This will allow you to further strengthen your professional relationship.

Posted on

Customer Trust: Why It’s Important in B2B Sales

You have a great product and an effective marketing plan, but you are not generating the desired sales figures. Maybe a crucial ingredient is missing – customer trust. However, building customer trust is easier said than done. 95% of CMOs say establishing trust between their brand and the consumer keeps them up at night (BrandKeys).  

 

Here are four reasons why customer trust is essential in B2B sales: 

 

1. Customer Trust is the Convincing Factor in Purchasing Decisions  

There is a good chance that your potential customers already know about your product.  Decision-makers only dedicate 17% of their total purchase process to talking to potential suppliers (Gartner). This is because information is readily available at their fingertips – through your website, ads, social media pages, eBooks, reports, and more. The convincing factor to purchase your product is not its benefits or competitive price. It’s the ability to nurture a trusting relationship with decision-makers at every stage of the sales cycle. 

 

2. Customer Trust Builds Confidence in Your Product

The combination of great customer service and trust will decrease feelings of risk in your customers and make them more confident in purchasing your product. Beyond ROI and numbers, trust is key in helping customers understand the value of your service. In addition, emotionally connecting with your customer is important. Empathize with their challenges and reassure them that your product or service will solve their short-term and long-term needs. As the B2B sales cycle is long, you need to have as many touchpoints as possible with prospects. There is also a high chance you will be interacting with more than one representative – from sales directors to marketing managers to C-levels. 

 

3. Customer Trust Leads to Rewarding Referrals  

Picture this: You’re on the fence about buying a product but then you hear a close friend raving about it. Are you more likely to buy the product? The answer is most likely yes. Decision-makers feel the same way too. In fact, 76% of C-level B2B buyers prefer to work with vendors that have been recommended by someone they know (IDC). Not only that, 91% of B2B purchasers’ buying decisions are influenced by word-of-mouth (Useful SocialMedia). Customers who trust your business are more likely to refer your company to their peers, expanding your customer base organically.  

 

4. Customer Trust is Essential in the Era of Online Purchases  

In the current digital-first world, it’s no surprise that more decision-makers are making purchases online. According to a survey, 89% of decision-makers have made an online purchase since 2020 (Avionos). However, this does not mean that they are happy with the services provided by suppliers. In the same survey, 45% of decision-makers encountered pain points when interacting with sales representatives. Additionally, 77% of C-levels stated that their last purchase was complex and difficult (Gartner). With higher expectations for virtual buyer experience and supplier relationships, customer trust is paramount. 

Posted on

4 Methods To Utilize Clubhouse For Your Business

Since its launch in 2020, Clubhouse has steadily been gaining influence as a viable platform for CXOs to explore. However, businesses are still trying to figure out how exactly they can use the platform as part of their strategy.

During Management Event’s weekly Transformation Thursday, expert speakers and industry leaders share their thoughts on how businesses or brands are exploring ways to use Clubhouse. If you missed out on the session, read on to find out the 4 methods that you use to utilize Clubhouse as part of your business strategy.

 

1. Creating Authentic Business Connections

 

While Clubhouse is currently the hottest social media app, it is still just a social media app and doesn’t necessarily guarantee success for your business goals. However, it can be a valuable tool for creating (or rekindling) business connections that will help as part of your overall marketing funnel.

Given the intimate setting of the app, whereby live conversations are happening, it’s easy for executives or business owners to spontaneously reach out to new connections during or after a session. This spur-of-the-moment connection can lead to possible business opportunities or even act as lead generation, on top of your planned marketing strategies.

One of the points raised during Transformation Thursday was the fact that Clubhouse has the ability to deliver real-time authentic conversations, something that no other social media platform is capable of doing.

 

2. A Direct Platform To Collect Data

 

Data is a powerful tool that companies can utilize to further improve their product/service and strengthen their organizational efficiency. With Clubhouse, you have a powerful platform that allows you to collect real-time data for your business.

Instead of expensive focus groups, you can attract the specific audience that you want into your session and communicate directly with them to get feedback on your products or services. The approach itself can be as organic as setting up a room to chat and just talk with the people in the room on what they think about your company’s products or services.

Companies can use Clubhouse to extract data, entrepreneurs can also use it to collect valuable feedback on business ideas. All you need to do is just set up a room and invite people in your industry to chat with and get instant input to refine your ideas in real-time.

 
Next-level Insights: Gain exclusives insights on industry trends from experts at Management Events’ Clubhouse (@Managementev) sessions.
 

3. Crafting A Tailored Brand Image

 

Cultivating a strong brand image is key to a company’s success in today’s socially aware market, and Clubhouse as a platform allows you to create a tailored brand image where you can control your message.

Compared to other platforms such as email marketing or Instagram where it is a “one-way” communication, Clubhouse allows for “two-way” communication where you can immediately hear feedback from your audiences.

This offers direct access to the audiences that you want to connect and better tell the story of your brand. And with the numerous sessions available in the app, it’s easy to join a room relevant to your business, get on stage and deliver value to build a relationship with the people.

 

4. Building a Community Around Your Business

 

One of the big potentials highlighted during Transformation Thursday is the ability to build an engaged community that will help grow your business sphere of influence. 

For example, Nike can create a room for the running community where users can talk about running equipment and share their thoughts on Nike products. Management Events can create communities that focus on business networking and sharing industry insights.

By creating rooms or topics that are relevant to your product and providing valuable conversations, you can quickly establish yourself as an industry expert. Through those sessions, you will then be able to build a community of potential customers that you can talk to directly.

Despite being around for less than a year, Clubhouse has proven to be quite the popular platform for influencers and executives alike. With the points we’ve outlined, your business will able to take your presence in Clubhouse to the next level.