A strong Wi-Fi setup has been the thread that has kept families and business connected. Technologically, Zoom has leapt ahead of the legacy players in the world of online video conferencing. Zoom, WebEx, and others have been around long before the pandemic’s rise, but the events of the last 10 months have forced a stay-at-home nation to get used to communicating in a new way All of the various parts of an enterprise deal can talk together, but more importantly, they can read the facial inflections of those around the table. This allows people to adjust and remain on the same page with the customer.
In the past, whole teams would head to a prospect or a client for presentations. That meant a fistful of airline tickets would be issued, with added expenses along the T&E expenses ledger.
More flights would mean more hotels, more rental cars, and more dining. You might fly in for a 2- hour presentation of a 4 hour workshop, but then the entire team might lose a day on either side in travel time. It’s expensive and time-consuming.
There will come a time when COVID -19 subsides when a new generation of vaccines hits the market. Business travel will rebound but it will be very different.
My guess is that business travel will become more streamlined because the big question will be—”Who goes in person” verses “Who participates online?”
More people will be staying home.
There will be no need to send whole armies for a client visit because the technical pieces can be replicated via Zoom or WebEx. However, the person quarterbacking the deal needs to be in the room with the client with –perhaps—a much smaller supporting team. This will allow for a better allocation of scare travel budgetary resources that are decked against other business development and customer success opportunities.
This trend will have a rippling effect within the entire world of business travel. It will touch on the number of people who fly, which means that airlines will revisit how they route flights.
Because business travel is the bread and butter of most airlines, these changes might even bubble up to the types of airlines purchased or leased by air carriers. Hotel and restaurant brands will have to readjust their value story to meet the changing nature of business travel.
Less business travel might equate to the need for less dining establishments that cater to this group.
These changes might be long lasting. Unlike the events after 9.11, which only impacted life domestically for a number of weeks, COVID-19 is now on its 8th month and whole new habits surrounding business have emerged.
However, regardless of the technological leaps and bounds that have taken place since that airline ad a generation ago, building relationships that become thriving partnerships will take a personal touch and no technological platform can fully replicate that. While we are thankful that video conferencing technology has kept us from being economically and socially isolated during these times, there are limits to how these platforms can build business. An overreliance on technology can create a false sense of security with clients and prospects because deals can be lost to somebody who is closer to the economic buyer. Technology can only help; it cannot fully solve things that the human factor can only address.
Like the airline ad that began this piece, you’ve got to be with your clients, even if the future is very different.
Payments, Fraud, and Leadership 