The shift to digital platforms in B2B industrial sales, accelerated by COVID-19, has increased online sales but brought challenges in communication and relationship-building. This thesis examines how digital versus in-person interactions affect project sales. The goal is to analyze the impact of digital and face-to-face interactions on B2B project sales, focusing on stages like search, preparation, bidding, negotiation, implementation, and transition. The study aims to help businesses improve their sales strategies and contribute to academic knowledge on digital sales tools. The research addresses how face-to-face and online meetings differ in decision-making and buyer engagement, providing insights for project sales companies and academics in B2B sales. The thesis uses an exploratory approach, starting with a literature review on digital transformation, project sales, and relationship building. Interviews with sales professionals provide insights for the research questions. Furthermore, the derived data from expert responses explore the overall effectiveness of digital and traditional sales interactions. Findings show digital interactions are very effective in the search phase, providing easy access to information and enabling initial connections. In-person interactions at trade shows are important for building initial trust. The preparation phase favors online interactions for efficiency, but in-person meetings are crucial for detailed discussions in some industries. The bidding phase uses a mix of digital interactions for document management and inperson meetings for finalizing terms. The negotiation phase benefits from face-to-face meetings to ensure clear communication and build trust. Online interactions are preferred for routine tasks during implementation, with in-person meetings for major issues. In the transition phase, personal interactions are key to smooth handovers and building future relationships. The study finds personal meetings lead to higher bid success rates, as they improve communication and build trust. While online interactions are efficient for initial contact and routine inquiries, in-person meetings are essential for long-term relationships and trust, especially in complex projects and critical phases. Businesses need to understand the strengths and limits of both methods. Managers should balance using online sales interactions for efficiency in specific cases and in-person meetings for building trust and strengthen the goal-oriented contract closing. Limitations include a small sample size and a focus on Austrian companies with international operations. Future research should include a global sample and quantitative data for a more accurate analysis. Including customer perspectives would provide a fuller picture.
Effectiveness Analysis of In-Person and Online Sales Meetings in Industrial Business: A Comparative Approach
Bajrektarevic, A. (Author). 2024
Student thesis: Bachelor's Thesis