b2b Matchmaking Explained

What is business matchmaking and how can you use it for your next event?

b2b Matchmaking Explained

Matchmaking is generally used in the context of the dating world, namely to describe how two searching individuals find the perfect partner. Business matchmaking is no different from that. The same approach is used to find the perfect 'business' partner. So, let's clarify what that exactly means.

What is b2b or Business Matchmaking?

First of all, let's clarify the terminology. As the title and introduction indicates, we normally refer to what we are doing as b2b or business matchmaking. But, there are different terms out there being used to describe the same concept, like:

  • b2b networking
  • Business speed dating
  • Facilitated networking
  • Or just networking/matchmaking

The most important misconception to clarify is that business matchmaking differs from networking. Even though both share similar goals, namely to expand a network, they have different approaches.

Casual networking normally takes place in an unstructured way, either during coffee breaks in between event sessions, or in dedicated networking areas. Both cases are inefficient and not goal-oriented.

Regular networking means to arises naturally in an unstructured manner in an inefficient, time consuming way. 

Business matchmaking is the opposite. It is efficient, structured, and makes sure time is used optimally. But it has to be organized.

Matchmaking is organized, structured, efficient and goal-oriented.

 

Definition of Business Matchmaking

Business matchmaking is a method to identify and connect (match) companies with common business interests, complementary services, expertise, technologies or business strengths. The goal is to create cooperative connections and realize business opportunities that mutually benefit both parties.

It is the most efficient way to find, meet, and talk to new collaboration partners in short, one-to-one talks either onsite or in virtual meetings.

Participating people (businesses) have to state information about what it is they are searching for, or what they have to offer. b2b matchmaking is based on that information. The system can identify which needs are met by which offers, and then connect those people.

The more precise the collected information, the better the outcome of the business matchmaking.

 

When Is It Used?

Business matchmaking is commonly used for events where networking either is the main item on the agenda, or just a side part of it. Common examples are:

  • Buyer-seller events
  • Research and innovation events
  • Regional development events
  • Start-up events

Additionally, bigger occasions like conferences, congresses, exhibitions, fairs, etc., use the benefits of business matchmaking as a more structured and efficient form of networking.

 

How Does b2b Matchmaking Work?

Business matchmaking is best done with the support of a tool. One that highly automates the process and easily integrates business matchmaking into the workflow of an event. Thus, it is ideal when the tool also has all other necessary features to manage your entire physical, virtual or hybrid event.

If you break down how the business matchmaking process works, you end up with four steps:

  1. Registration and profile set up
  2. Browse and matching profiles
  3. Prearrange and communicate
  4. Meetings

Following, we will describe each step and their connection in greater detail.

1. Registration and profile set up


b2b matchmaking starts when participants register online by filling out the events registration form.

Customized questions defined by the organizer and adapted to the topic of the event guide participants through the set up of their individual profile.

The participant information and cooperation profiles are the cornerstone of the business matchmaking itself.

2. Browse and matching profiles


Before the event even begins, participants can go to work.

They can identify interesting and promising contacts with whom they want to meet. The tool's smart search functions allow participants a quick and easy identification of suitable (matching) profiles.

Finding the b2b matchmaking needle in the haystack made easy.

3. Prearrange and communicate


Before the event, all participants can write, such as request and prearrange meetings with each other. This saves valuable time during the event.

The system automatically assigns each meeting to a numbered table or informs the participants if it is a virtual meeting.

Individual configurations allow you to customize each single step of this third phase for the exact needs of your event. Configurations allow you to customize:

  • Who can send and receive meeting requests with each other
  • How meeting requests are approved/declined (or by whom)

4. Meetings


During the actual event, participants can enjoy their prearranged meetings. Ideally, this first meeting is the starting point for a collaboration.

 

The Role of the b2b Matchmaker

To harvest the benefits of business matchmaking, it is essential to do it the right way. You as an event organizer function as the b2b matchmaker. Thus, making it easy to find the right collaboration partners and helping your attendees to meet, understand each other and have a good chance of initiating cooperation is influenced by the event organizer.

b2match lessens the weight of this responsibility and helps event organizers to create an engaging event experience, where connectivity is maximized. 

Become a b2b matchmaker with us: 

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