Is it just as effective to do NEW BUSINESS development virtually? Covid has altered the dynamics of how we do business

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Is it just as effective to do NEW BUSINESS development virtually?

Covid has altered the dynamics of how we do business. As a leader in a decision making position, when you are tasked with making strategic decisions about new business development, building relationships with industry partners, customers, vendors, etc. can those initial contacts be made just as effectively virtually? In other words, are initial contacts that are virtual as effective as initial contacts that are face to face?

Kindly answer this briefly in long format and cite any sources.