#Dmarket face2face update#
#Dmarket face2face full#

We’ve been talking about precision medicine for years. they address the needs of your audience, and by virtue of helping or educating your audience, they are more likely to buy from you. It’s about engaging with the right people, and in ways that your audience find useful i.e. If you’ve been using events as part of your engagement strategy, it’s likely (although not definite) you’ve gravitated towards larger (usually well-established) events where you feel spending your marketing budget is a safe move – for example, large association events and long-standing incumbent events with high levels of booth traffic or larger audiences.īy contrast, the big opportunity digital platforms provide is not about engaging with the most people. The myth of scale, as opposed to precision, is about to be found out.

#Dmarket face2face update#

Understand as much as you can about how your competitors are responding.Īt the very least, you should be aiming to maintain market share during this crisis, and plan to update your engagement methods once lockdowns and travel restrictions are lifted. Strengthen your own digital capabilities, including how you evaluate opportunities. Others will be looking to change their approach more permanently, and capitalise upon longstanding changing audience habits to take market share from their competitors.Ĭompanies that do not learn to effectively engage with their audience digitally will find it harder to thrive. Many companies will merely be looking to mitigate for the lost leads they would have generated from cancelled and postponed events. Companies who quickly learn to effectively engage with their audience digitally will capture market share, and retain many of those customers once the world returns to some semblance of ‘normal’. The same is true of every industry, including life sciences. You should factor this into your decision-making process when investing in events to meet your business objectives in future. They will yield market share to smarter, more agile and digitally engaged operators. Looking more closely at the events industry, those companies who have not taken the time to regularly engage with their audience (except to make money from them) are already being badly exposed. In the short term, the shift towards digitization and shifting audience habits will lead to a breakdown and reassembly of the events, publishing and business intelligence industries, where a full-scale land grab for market share is already happening. The Sneaky Land-Grabīe aware of the land grab for missing customer value and market share that’s already happening. You’ll need to plan for big changes in the way you take your products to market.

#Dmarket face2face full#

We’ve entered a new phase in the move towards full business digitization. However, audience habits will have changed forever, well beyond the lifting of lockdowns and the relaxation of travel restrictions. In fact, those that embrace and use digital platforms for engagement may well thrive. Regardless, COVID-19 will have a significant and longstanding impact on the way audiences consume information, gather intelligence, network and evaluate buying options. It’s hard to predict the rate of recovery, which will differ from region to region. It’s obvious that the face-to-face events industry has been decimated. Most of our clients at Front Line Genomics use events such as conferences or exhibitions as the primary means of generating leads and demonstrating thought leadership with their prospects or audience. This sentiment was already growing, driven by climate change and changing attitudes towards operating a sustainably, responsible business. It’s also being shaped by employers who will be more reluctant to ask employees to travel. This new reality is not just being shaped by the perceptions of individuals, fearful of being caught in second waves or reluctant to travel away from family members. However, habits will have been irrevocably changed as people realise how much can be achieved digitally. As people return to work, the shift will obviously ease a little. Particularly relating to working habits and practices. Think about and plan for what this means for your business.Īlready a recognised mega-trend within life sciences, the entire life sciences sector now has a new motivation for accelerating the process of digitization. This process has been accelerated by COVID-19. Here are three of the most important changes that you should be planning for right now. The post-COVID-19 world is going to look very different to how it was before. The business impact of COVID-19 is proving to be significant.