77% of B2B buyers state that their recent purchase was very complex or difficult. (Source: Gartner)
Rising trends of mobile commerce, technological advancements, cloud-based eCommerce platforms, and innumerable tools to run businesses have confused the top management of organizations.
As a result, the buying process of modern B2B consumers is changing, but is your sales strategy?
For B2C and B2B, the typical buying cycle of awareness, evaluation, and purchase phase remains the same; however, the approach and need of products do not!
When appealing to decision-makers such as researchers, financial advisors, senior executives, or top end-users, you need to answer the questions they are asking to solve their ‘problem’ with your product or service.
Suppose your aim is to sell your product to a financial decision-maker; what should be your go-to plan?
Well, understanding their psyche helps in targeting them! Being from the finance industry, the person will look for a product or service worth the investment. These people oversee company finances; they’ll assuredly check their budgets and decide if their organization can afford them. To woo them, you can demonstrate the value your product or service can bring to their company and may display a tentative return-on-investment (this will be an add-on). The evidence (case studies, testimonials) will help them gauge your product in a relatable way.
We might have made it simple to target a financial decision-maker, but all industries are different. Whether B2B or B2C, you must understand your target audience and only then channelize your efforts to convert them into a consumer.
Decision-makers will always look for instant gratification, accessibility, and speed.
Being dependent on clean data and integrated data markets will soon be outdated. The marketing analytics is accelerating towards AI-powered insights, which will fuel your customer engagement and proactively suggest the next best action to grow and retain the customer accounts.
If you ask, what does B2B selling lack? We might say one of many things is rewarding your buyers.
Whether a B2C consumer or a B2B decision-maker, we all love to be rewarded. You might second this, right!
Compared to B2C, B2B brands woefully fall short of delivering a rewarding experience to their buyers. Working around some rewarding techniques may include a reward point extension on your eCommerce site or a long-term plan that can benefit them in some manner.
Alongside the above, don’t ever disregard the approach that B2C companies have. It would be best if you ditched the marketing lingos and embellished language. The emotions behind selling to B2B must be based on facts and/or logical determinations.
If it makes sense to them, you’ll soon land upon a B2B sales call either online or face-to-face.