Recently, I met with a potential client, who expressed. Great disappointment at the last-minute cancellation of Mobile World Congress (MWC) 2020 in. The wake of the Coronavirus (COVID-19) outbreak. The world’s largest mobile trade show would have been the major industry. Event that his company was planning to participate in. Months of preparation and tens of thousands of dollars were lost when. The Coronavirus panic led to the last-minute cancellation decision. The frustrated marketing manager said that his company had already been notified. That another big show, which they had planned to shine at. Had been postponed for the time being.

Learn about the success story of the software company: Lempert SA

This is not 2008

I can still remember what happened during the 2008 financial crisis, when most B2B companies decided to play it safe and cut their marketing budgets.

I was therefore pleased to learn that the company has already adopted a new strategy of shifting funds allocated to exhibition participation to double investment in online marketing.

On reflection, such a move makes a lot of sense.

Add to this the fact that a growing number of organisations are now minimising all face-to-face meetings with. The inevitable result that they must shift their digital strategy. And make it their key source of lead generation.

Major organisations such as the World Bank and the International Monetary Fund have already announced they will abandon all face-to-face meetings, and private sector companies are expected to follow.

Considering that companies allocate the majority of their budgets to trade shows, even a moderate shift in preferences will likely translate into increased investment in web marketing.

 

Billions of dollars lost

 

Figures released by data intelligence firm PredictHQ indicate that in February alone, concerns about the coronavirus led to a 500% increase in cancellations and postponements of major events. The total cost of cancellations is estimated to be in the billions of dollars.

Research conducted in 2018 by the Center for Exhibition austria telemarketing Industry Research indicated that B2B marketers participating in industry events allocated nearly 40 percent of their budgets to industry exhibitions and shows, almost five times more than the 8 percent spent on online marketing.

Even if just a small fraction of event budgets shift to online marketing, it would translate into massive growth in web marketing.

Online marketing to benefit

 

The main advantage of digital marketing, aside from the fact that it doesn’t require face-to-face interaction, is that it’s measurable. Marketers can easily get a good picture of their return on investment (ROI) and which activities generate comparing traditional sellers with inbound sellers the most quality leads and at what cost.

However, Assuming that many marketers. Will have some extra free time, especially. Those who will have to isolate themselves at home. They are advised to use it to review their online marketing. Strategy and redefine their marketing messages.

Review your marketing strategy

Marketing executives often complain that they don’t have time to update their websites due to their work overload. Well, this is exactly the time to revisit belize lists the corporate site and make sure that your company is well presented.

However, This is also the time to reset your marketing campaign. Goals and take a hard look at. The performance of past efforts. A closer look will surely indicate. That there is a real need to update much of. The marketing materials produced in the past.