Have you ever wondered how top business people make their business buying decisions? How can you get your product or service front and centre for their consideration? The buying methods of top business people has changed over the years and now a cold call to the CEO or purchasing manager of your target business may not get you the results you looking for. Here are five ways that business people make a business purchasing decision.
More access to information
The internet and social media sites have made access to information more readily available. The modern buyer is more educated and informed about the options which are available to them when they would like to make a purchasing decision. They can look at reviews and opinions of others and they can learn the basic benefits of each product just by doing an easy online search. The role of the sales rep has changed. No longer do you need to give the basic information about the product to the prospective buyer but instead you need to be a subject matter guru for whatever field you find yourself in. You need to understand the pain points of your buyer and give a customized solution that will solve it. You need to convey your information concisely and clearly and be able to understand the trends in your market and how they influence your prospect and their particular business. By being able to share content which is relevant and accurate you will be able to turn prospects into buyers.
More skeptical about vendors
Buyers are more critical and cynical about sellers. Over half of buyers prefer to research the product online then be approached by a salesperson who only has one agenda. They want you to solve their problem not just tell them about your product. How do you win over this sceptics? Build trust. It is very important to build trust with your prospects. You do this by focusing on solving your client’s problem rather than delivering a sales pitch. Buyers respond better when they learn something. They may be able to get the information online but this does not mean they have a clear understanding of it. If you can teach them new insights about their market they will be more willing to buy from you.
With the digital age, people are more connected and because of this the influence of peers on decision-making has increased. B2B buyers look to their colleagues, professional networks and social media connections when make purchasing decisions. These people hold great sway when people make purchasing decisions. There is a study which shows that 90% of purchasing decision are made through word-of-mouth. Therefore, it is important that everyone who experiences your brand has a good experience. When your sales reps approach B2B buyers ensure that they can give them all the content they need to make a decision that they will be happy with and that they can use to convince other decision-makers to buy into.
More buyer’s remorse
Many B2B buyers are afraid to make a purchase and then regret it afterwards because a better vendor has come on to the market or a better product has been released. Furthermore, they are worried about how the purchase will reflect on them personally when it comes to job security and professional credibility. In this situation it is important for sales representatives to highlight the return on investment that the buyer’s company will make if they purchase your specific service or product. The sales rep should have content which will quell the buyer’s worries and help them to feel more at ease when purchasing your offering over others that may be available.
Nowadays there are more stake-holders involved in the decision-making process of company. Previously, you only had to convince one person to buy the product now you need to get the consensus from a group of people to buy your product. Therefore, it is imperative to know who your audience is and tailor the sales process so that it is relevant to them. You need to take into account both demographic and psychographic details. With this information, you will be able to understand which channels they want to use and you can ensure you tailor your content and messaging specifically to them.
With B2B buyers being more informed and empowered, you will need to step up your game. Make sure that the content you share via social media is accurate and insightful. This will build trust and relationships with your prospective clients and in the end help you to clinch the sale from your competitors.
Proudly brought to you by the NSBC.