With the Covid-19 pandemic, the modus operandi of doing business has changed and these changes are defining the “new normal”.
The absence of the usual trade fairs and events, where sellers and buyers do business, highlighted the importance of the conference call, also accelerating the process of demystification of its ineffectiveness.
With agglomerations and presential gatherings becoming a global risk, virtual business round events emerged and proved their efficiency. Even if in some places of the world presential events are returning, virtual trade events and fairs have come to the attention of many industries and corporations and they will continue even after the pandemic.
According to Grand View Research, the global virtual events market reached USD 77.98 billion in 2019 and it is expected to grow at a CAGR rate of 23.2% from 2020 to 2027.
Big tech companies also realized the efficiency and demand of virtual events – developing new features and improving old ones, to make these events more appealing and friendly.
Companies that can support and host encounters are registering high growth rates. Zoom, one of the most prominent companies in this field, grew 326% to $2.6 bn in 2020, and profits jumped from $21.7m in 2019 to $671.5m in 2020.
Among different commercials encounters and trade fairs happening virtually, business rounds are one of them. They can be carried out directly by the promoter (company, agency, association), or through the services of a hired specialized firm.
Since before the pandemic, Broggini has been working with different clients to foster and organize virtual business round events – from searching and recruiting qualified buyers, to guarantee the results expected by the participants.
Reinventing and adapting is needed during pandemic times, Broggini came up with its own matchmaking/business round platform to deliver solid results, making it handy for participants, with customization capability for each company.
From January 2020 and May 2021, Broggini has organized over 20 virtual events through its digital platform for trade associations and public institutions focused on supporting their associates in expanding their operations locally and internationally.
Virtual events allow small and medium enterprises to participate, as they may not afford investments with specific travels. They can also be promoted with lower budgets, comparing to presential business events.
Even though in the flesh meetings tend to generate quick sales and deals, online ones can generate a vast network of contacts, and potential sales in the near future.
The growth of Unified Communication as a Service (UCaaS) popularity among corporations and industries is a factor that reinforces and complements the rise of online events – since they are both part of this new “digital revolution”. UCaaS are types of mechanisms for enterprise communications, which utilizes clouds, with a virtualized data center.
According to Transparency Market Research, in 2015 the UCaaS market reached US$ 8.23 bn and it is expected to reach US$ 79.3 bn in 2024.
The presential events will return, but the virtual ones came to stay!
If your company/institution aims to expand the operations nationally and/or internationally, selecting specific potential commercial and/or industrial partners, Broggini, with over 20 years of experience, will be glad to support you in achieving this goal.
Broggini can organize prepare custom-made business rounds and individual matchmaking projects, also offering its exclusive digital platform, to ensure the results expected.