Last month we were analyzing how the Covid-19 affects companies differently depending on which side of the “internationalization curve” they are.
The Covid has had a strong negative impact on companies which are on early stages of internationalization. We believe these companies will “suffer” of Covid effects, easily onto the second half of 2022. Why so?
First of all, tradeshows are a good place to meet and do business. But, how about if your key tradeshows are postponed until fall 2022. Companies will lose out greatly on new contact creation and internationalization.
Companies that will lose out, are the ones that suffer of Covid “Hostage Syndrome”, i.e, they are waiting to have better visibility to make decisions, are holding onto old ways in contact creation, and not using emerging communication platforms to their advantage.
“It is evident that, in the future, companies’ marketing toolbox will also include, for example, country specific virtual tradeshow products to help the local dealers to have a wider regional leverage.”
This is a serious miscalculation. The communication platforms such as Zoom established their pivotal role and are here to stay. The emergence of virtual tradeshows also happened very fast and is becoming the new norm. Many companies are now building marketing strategies around webinars, virtual tradeshows, etc.
It is evident that, in the future, companies’ marketing toolbox will also include, for example, country specific virtual tradeshow products to help the local dealers to have a wider regional leverage.
According to Tomi Hilvo, CEO of Entre Wulff, the biggest B2B tradeshow services provider in Scandinavia and creator of the “my remote studio” concept, the demand for virtual online tradeshow booths and services exploded in 2020.
“But it is clear, that hybrid model, which combines physical presence, like in old times and virtual dimension, based on digitally produced material and presence, will be a game changer.”
-The bigger companies who needed to be in regular contact with their clients and own teams were the trailblazers. They also had the marketing resources to adopt faster the new trends. Little by little companies are joining the bandwagon. Unfortunately, powerful content and strategy are often missing.
But it is clear, that hybrid model, which combines physical presence, like in old times and virtual dimension, based on digitally produced material and presence, will be a game changer. Suddenly we have more technological leverage and physical presence combined. This augments the tradeshow experience for everybody in the future.
So, when upgrading your marketing portfolio, do not ignore the virtual tradeshow tools and strategy. Catalogs alone, will not suffice in the future. Moreover, dynamic and technology savvy dealers, as well as manufacturers, will certainly see virtual tradeshow technologies as a cost effective approach to expand and grow business to markets.
Nordic Industries Development Oy sees the big picture in global B2B sales channel operations and how the change happens.
We have helped hundreds manufacturing companies to transform their B2B strategies, tactics and develop markets, in good as well as in bad times, globally, since 1994.
Written by JUHA SEPPÄNEN (CEO, NORDIC INDUSTRIES DEVELOPMENT)