The B2B buying process is complicated and lengthy. Therefore understanding the thinking process of decision-makers at your client’s office is vital to successful conversion.
Decision-makers can be easily compared to consumers as they both have emotional and rational needs that suppliers need to fulfill. However, in the B2B marketplace, these needs operate a bit differently and are more concerned with the company as a whole. The most important thing is the time invested by the decision-makers that define their buying process.
Garter’s research shows that B2B companies spent 17% of their time meeting prospective suppliers and just 6% engaging salespeople
82% of B2B decision-makers find sales representatives to be mostly unprepared.
Decision-makers use at least 45% of their time researching offline and online sources before opting to purchase a product.
The Harvard Business School wrote an article that shows that B2B buyers consider a minimum of 40 value elements when making purchase decisions.
Thus it is clear that buyers evaluate a wide range of factors to determine how obtaining a specific product affects employee efficiency or business operations.
Logichron wants you to increase conversions; hence we have compiled a list of some of the factors that the top B2B companies evaluate before making a purchasing decision so that you can always stay one step ahead of the competition.
Value
The value of a product or service is a vital factor for B2B decision-makers whenever they want to make a purchase. Evaluating the following product features help purchasers understand the importance of the products:
Performance
Features
Benefits to the firm
Support given
Personalisation (Services)
Buyers use these metrics to assess how well and efficiently your product/service solves their problems.
To understand the value of your product B2B decision-makers look at product demos, product/service descriptions, and white-papers. They also take the time to look at previous customer reviews, testimonials, and case studies about the performance of your product/service.
Statistics reveal that 77% of B2B buyers in the evaluation stage recognize case studies and testimonials as the most effective forms of content that influence decisions.
Product Durability
Another significant factor that influences business decisions is the durability and sustainability of your product.
Having a durable and sustainable product will show buyers your product quality. Durability is how long a product has to last before it starts to deteriorate and require maintenance or complete replacement. Having a long-lasting product goes a long way in reducing waste and conserving resources. This is incredibly important to clients as durable products improve sustainability and reduce cost.
B2B buyers want the best value for their business; therefore, they thoroughly examine the efficiency and functionality of a product, also the warranties and upgrades available.
Clients can learn about the durability of your product throughout the buying process in various ways; these include:
Studying customer testimonials and case studies
Examining white papers
Understanding product descriptions
Inspecting manufacturer certifications