Business attitudes towards face-to-face marketing
A recent research report Managing Across Distance in Today’s Economic Climate produced by The Harvard Business Review found that face-to-face meetings were crucial to satisfy four business needs:
Developing new clients
Negotiating
Maintaining relationships
Overcoming cultural Barriers
Those who felt cut backs in business travel would hurt their business were in sales and marketing (60%) and business development (57%). On the other side those who believed that cutbacks would not harm business were in finance (36%) and IT (33%)
With an increasing pressure for the right metrics to justify the face-to-face expense we are still faced with a great divide – sales and marketing on one side, finance on the other.
Are you finding more decisions are being skewed to one group or the other?
What are you doing to make sure both sides win?
Let us know
For the complete survey see http://hkg.grants.ba.com/harvard-business-review.pdf
During these difficult economic times, all expenses are being scrutinized. Travel and hotel expenses to see customers or prospects for added sales will experience greater results if done in person.
Good judgement here is key when choosing people to see or tradeshows to attend.
Tradeshows provide one element that is not achieved by any other medium. this element is emotion.
The power of face to face communication will drive a decision to buy faster than any other medium- especially if buyer is waffling. When buyers are emotionally sold- 1/2 the sale is complete.
Investing in face to face meetings will drive added sales. Activities to do so should be approved and measured for results. Canceling travel would surely save money. Investing in face to face communication travel will uncover opportunities that might have gone elsewhere to buy.
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