Twist in trust building story: A pandemic effect

Sweatpants, flip-flops, and a cool place to take the call from; for many, working from home changed how we thought of work. As countries around the world have slowly started restoring normalcy, I sat in retrospection of what we all just went through. I am looking at it through my lens, the lens of a growth professional. How has the pandemic changed our thinking around communication and doing business? Has it transformed the way we sales and marketing professionals used channels of communication? What effect it had on trust-building?

Learning from fellow marketers across industries and after serving on a few marketing teams for companies of all sizes in the B2B tech space, I can make a few safe bets. One of which is; after client referrals, in-person events ranked highest on my list of the most effective B2B marketing channels. The chart below validates this hypothesis. In-person events are more effective not only for B2B tech organizations but also for other sectors.

An in-person can never be substituted for any other form of communication. As social animals, our experience is complete when we physically meet someone. Non-verbal clues that we pick during our conversations helps us form an impression of that person in our mind. We use that to remember names, personalities, conversations. It builds intimacy, empathy, and connection. Being physically present means that you probably have their full attention. Probably.

Showing up is half the battle

For marketers, the closest we can get to a prospect is at in-person conferences and tradeshows. They have always performed for the marketing dollars we spend, not to forget all the time and energy that goes into making it a success. Events like happy-hours establish marketers’ role in creating a positive impression for our brand in the minds of our clients. From experience, we know that closures happen when your front-line staff meets the prospect in-person during the last-mile discussions. In-person really is a key strategy in winning in a competitive marketplace.

For Sales, in-person or face-to-face meetings bring out fine points that are otherwise not expressed over an email or a phone call. Even a video conference is sometimes restricting. So when a sales rep shows up at the office of a client, it shows commitment to the relationship, a desire to work together, and confidence in the product being sold. Sure you can send an invitation to Hangouts or Zoom or Teams, but that still leaves some experience behind. Trust-building is achieved faster with being present physically.

In 2005, Scott Ambler drew this graph showing how communication effectiveness changes with change in the richness of channel of communication.

First trust building, then business

Every form of communication tries to establish trust. That is its primary motive.

Impact of communication is directly proportional to the trust it builds in the minds of your target audience. Without trust, there is no relationship.

Choosing the right type of communication is paramount to the success of any relationship. This reverse communications pyramid (see below) shows how trust and impact gradually change with the change in the type of communication. Once trust is built-up, business is relatively easy.

However, the Corona pandemic is rewriting the communication channel impact story. In a sense, it is writing the new #FutureOFWork. If that’s not enough, starting up in pandemic is a whole new story!

In the end, it does matter

With more and more business being conducted online (even closures happening over video conferencing), does this future of work help us organize our days better? Can we save a few extra dollars for the company and be a more leaner organization? Is trust building possible through the only channel available – online? Does this mean more time for our loved ones? If the answer to these questions is a yes, then the digital business is here to stay. As governments slowly ease out restrictions, the digital-first world might just be the new normal. Although one question remains; in the future, as a buyer will you opt for conducting business over a conference call or still prefer an in-person? Will you still hold a bias?

Co-located vs all-remote

Experience and experts both agree that co-located teams perform better. What with ‘Slack-ing’, scheduling, upload-download latency and a lot of anxiety around ‘can you hear me’. In a perfect Agile world, teams working on a module are more effective if they sit together and work. However, the infection the world is fighting currently has urged that we reevaluate ‘all-remote working teams’ theory. We have all had hits and misses with the team of freelancers sitting in Krakow, Birmingham, Bangalore, etc. Making this model work will require a change in culture, both at the vendor and at the clients. We may have no choice but to make this work. All-remote may not be feasible right now but it is what the future looks like. Could the communication pyramid not be relevant anymore?

Perhaps a more level playing field

If anything, it has leveled the playing field a bit. Social distancing may soon put more restrictions on conducting business in tight spaces. Virtual conferences may make a strong comeback. For executives who traveled extensively to sell or set up a booth at a conference, they can now save time and energy by showing up virtually. However, this may also help small players in the marketplace to punch in a slightly heavier weight category with better, more focused products / services. They too can save their precious marketing dollars. With communication channels equally accessible and the prospect ready to do business online, is the market a lot more receptive now?

Oh and expect this

The average buying cycle in B2B was already increasing YoY. This chart by B2B Buyer’s Survey Report (2017-18) shows the increase in the average cycle time. Now, with businesses reorganizing their staff, improving infrastructure, and managing their client expectations, the length of the average B2B purchase cycle is going to see a spike. Uncertain times = uncertain state of decision making. To keep shareholders interest and a positive balance sheet, expect cutbacks and layoffs. For a short duration, it may get worse before getting any better.

Driving to work, meeting someone over lunch, chatting in the office café – yes, we all look forward to getting back to it all. But once back at work, let’s take care not to let go of safety measures like using a mask in close proximity, sanitizing hands, and using alcohol swabs to clean workstations and cafés. Trust building is for business relationships, personal safety is unconditional.

Companies will now have to include a larger share of optional work-from-home in employment contracts. VPNs, laptops, work phones, and even paying for a better broadband connection at employees’ homes may need discussing. All this as part of the risk mitigation strategy. No one wants to be in this situation again but let’s plan to fail.

What other aspects of growth will see change? Have you taken measures that have shown results?