Telecom providers are rapidly discovering that excellent professional experience will define their relationship with business customers, as the market for data connectivity changes rapidly. In an age of increased consumer expectations, the commoditization of telecoms products has had a big impact on customer experience.
The requirement for B2B telecommunication is driven by the growing focus of companies in expanding their business and managing workforces around the world. Additionally, many companies in different sectors such as, government, corporate, education, and healthcare rapidly embraced the technology to offer superior services to their clients during the COVID-19 pandemic to decrease the overhead cost and drive up the productivity of employees.
“The B2B telecom market is forecasted to reach $181.35 billion by 2030 from $46.36 billion in 2020, burgeoning at a CGAR of 14.8%. Telcos will make value propositions for their enterprise customers by adding new domains to their portfolio driven by 5G, cloud edge services, VoIP, M2M (Machine-to-Machine) communication, data intelligence, and unified communication.”
Reigniting B2B in Telecom: Challenges and Imperatives – BridgeVoice.Inc
The Importance of B2B Networking for Telecom Professionals
B2B networking is more than just sharing info, it also builds relationships, cultivating long-term mutually beneficial relationships which, who knows, may ultimately have a positive outcome on one´s life and business. It can lead to new business prospects by gaining insights which may not have been considered previously, by exchanging information, advice and support on issues, experiences, and aspirations. Today´s networking options have been created according to circumstances and the current reality.
Virtual networking has increased in popularity in recent years, so it has become seamless with participants benefiting in many ways. It´s also possible to complement this with hybrid networking where one could choose to participate in specific on-site sessions making it a mix of face-to-face and virtual.
The old-fashioned way of face-to-face networking is traditionally done through various activities, such as B2B meetings, networking cocktails, workshops, or seminars. This allows the opportunity to hand out business cards, gauge the interest of people by scrutinizing their body language, and help in forming a connection with the other person.
Tips for Successful B2B Networking
Attending specific industry events is a great way to exchange relevant information and knowledge with other people in the sector. It leads to new leads by fostering direct feedback on projects, opinions, and ideas. To keep updated about activities, all the movements related to a niche market should be tracked by use of Hashtags, especially for events, to detect the people you want to connect.
Over the last years, due mainly to Covid restrictions, online networking has been an important element in continuing to build relationships. LinkedIn is probably the best and most well known social media platform that matches and targets audiences in a specific industry.
Company blogs are brilliant systems to disseminate content, and they need to have a presence in that industry´s digital and physical environments, to instigate debate and the exchange of ideas with other users.
Calls to action are crucial for closing deals. To get a prospect to move to the next level, one needs to encourage them to move from initial research to scheduling a sales call. It´s advisable not to be pushy, but don´t hesitate to create a sense of urgency.
Benefits of B2B Networking for Telecom Professionals
Gone are the days when business was conducted only during business hours. Today’s customers require companies to be always on, provide constant access to marketing that is informative and self-guided, while often completely avoiding human interaction. Simply having a great product and a great website is no longer enough.
To step into B2B, the market and competitors need to be analyzed, the strengths of our products highlighted, and identify the pains of potential partners. This may lead to other beneficial strategies whereby a B2B partner ecosystem, which is a network of complementary businesses, that often share your ideal customer profile, customers, prospects, and territories. This strategic partnership can act as extensions of their own business, by focusing on co-creating value and produce ROI.
Channel partnerships are another form of partnership that takes the shape of promotion outside of the company usually through affiliate partners, wholesalers, and other distributors. This increases revenue directly while simultaneously expanding the reach and relieving the promotional effort required from the company itself. Tech partnerships between two tech companies are great for companies looking to expand new markets and increase brand loyalty.
This ultimately requires people who are trained and experienced to manage B2B activity successfully. This may vary from one organization or industry to another. Prospects of career advancement are immense and candidates with expertise in those industries are often preferred. This knowledge is often learned during onsite job training and inherited from senior employees who share and pass down experiences that they themselves gained during their career. Industry leaders often pass on their work ethos and ethics to the next generation.
B2B customers should be offered something they cannot produce on their own. It is crucial to initially find out the client’s actual goals and ensure maximum transparency of one´s offer.