Evaluating the Effect of XR in Online Events for B2B

Staff WritersB2B Database & List ServicesB2B technologyDigital workspace platforms

By STS Staff Writer On Nov 15, 2022

The pandemic stopped people from meeting and discussing matters one-on-one. However, businesses aspired to find a way to connect people together, even if it was done virtually. It doesn’t stop here. The quest was to bring folks together in a way that they would feel like they are together, even though they werenot.

XR (extended reality) can potentially transform the well-established regimes in B2B sales. The focus of sales directors in B2B nowadays is to maximize the efficacy of the sales function and its revenue. The trend of digitalization extends immense opportunities to change the way we do business, and thus, XR, a part of this megatrend, is also seen as a crucial factor in leveraging the competitive advantage. XR (Extended Reality) is a technology that allows us to fill in the gap from our real, physical world to the digital world, which is increasingly surging in importance.

Now, here we shall walk you through how XR has influenced B2B online events and how this technology can be embraced in B2B sales. Read on!

Effect of XR (Extended Reality) in B2B

Unfortunately, digital technologies cannot still replace interpersonal communication, particularly in the B2B domain, where trade fairs stand as one of the most significant sales and marketing tools. Exhibitors view in-person contact as an immense benefit over digital communication. And thus, trade fairs remain an efficient tool in the digital era. The perks of face-to-face communication in B2B are surely convincing, such as the opportunity to get wholesome customer advice, trust-building, etc.

When it comes to digitalization in the fair trade field, it is about digitalizing trade fair organization processes and offers for visitors and exhibitors and not the product in the trade fair. XR (extended reality) assists B2B sales as it can expand the selling environment and provide a better customer experience. XR application enables personalizing the customer approach in every step of the sales cycle, thereby delivering fresh experiences to shoppers and regarding their needs purposefully.

Businesses are already reaping the advantages of XR (extended reality tech) with powerful tech where customers engage in a try-before-you-buy regime. For instance, if you are purchasing a couch online with XR, you would be able to see how it looks and fits into your room before even putting it actually there. XR tech is used by some retailers to provide their customers with a preview of the actual things. This directly lowers returns and enhances the brick-and-mortar retail experience of the customers.

XR technologies in business are employed to gain a competitive edge and solve certain challenges:

Increased customer loyalty and satisfaction.
Economical product descriptions and information
Save on logistics, operations, and travel
Effective interaction between stakeholders from diverse locations
Faster onboarding and availability of sales staff

Although face-to-face meetings will happen in the future, a majority of them will be employing XR as things evolve. The days are gone when marketing departments solely had to host events and print brochures. Nowadays, when marketing adopts complexity and increasing requirements, it can become a chief sales driver. Travel restrictions are rendering the future sustainable and local. Thus, strategy, technology, and organization need to work together seamlessly to thrive and succeed.

Better sales with smarter XR

Marketing executives need to improve the accuracy of the targeting instead of reinventing the entire process to get better sales. When you sift out the necessary information concerning the target audience, you grasp the sales cycle procedure with high precision. This is applicable to B2B as well as B2C sales avenues in the market. So, if you crave better ROI, you must refine the process and work smartly.

XR technology has the potential to create lifelike elements and imaging real-time, thus, augmenting our perception of the physical world. Other technologies like MR, AR, and VR are further bolstering the potential of XR (extended reality) for mainstream operations.

XR and sales across sectors

XR enables you to have direct access to customized products according to your customers’ preferences. You can personalize things like never before. That promises higher customer satisfaction which directly converts into more ROI. Already the future of sales is being imagined in the XR, and experts are trying to gauge its unexplored potential in the field, particularly how to present products to users. XR in the sales domain works to amplify user engagement and clinch the deal with them effectively. Salespeople can significantly optimize their sales with XR solutions the world is presenting, thus, giving their toolkit a much-needed boost.

So, implementing XR (Extended Reality solutions) in B2B sales and marketing can help capture the opportunities one missed for meeting sustainability goals, saving cost and time, and increasing brand loyalty. XR further facilitated online events in the B2B sector by providing solutions that enable real-time, in-person meeting experiences.