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B2B Monday Myth: Business Value Plays The Biggest Role In Influencing B2B Buyers

by MGB2B

The Myth: B2C companies need to worry about conveying personal value, while B2B customers only care about business value.

The Reality: Emotions play a bigger role in B2B buying decisions than you may think.

There is a major misconception about the influences on B2B buying. Google teamed up with CEB’s Marketing Leadership Council and marketing research firm Motista to survey 3,000 purchasers of B2B brands across various industries, and the results were surprising. They discovered that “B2B customers are significantly more emotionally connected to their vendors and service providers than consumers.”

Why is this? There is usually much more risk in B2B buying decisions than in B2C ones. Think about it: the buyer is spending a lot of money to make a major purchase, and needs to justify the decision to many people. More than 5 people are involved in the average B2B purchasing decision today. Not only is there a financial risk, but interpersonal and emotional forces are also prevalent in the workplace. Compare this to when a consumer goes to make a purchase; products that don’t meet expectations can be simply returned, and a disappointed spouse is more easily convinced than an unhappy supervisor.

The stakes are high for the B2B buyer, as their credibility is on the line. So, how do you successfully market your product or service? While logic and reason are an important key, you must also communicate personal value. Whether you are emphasizing opportunity for career advancement, respect in your workplace, or confidence in the product, follow these tips for success:

Homepage

It turns out that buyers don’t act in a linear fashion like we often assume. The decision-making process is actually very complex. We can be rather certain, however, that almost every buyer will at one point view the homepage on your website. This is the place to pull them in. Your homepage should have content that discusses both the business value and personal value of your product. Try using a call to action with some type of emotional appeal.

Make Personal Value Your Competitive Advantage

In above-mentioned study, Google also surveyed purchasers on their perceptions of different brands. It turns out, when it comes to business value, buyers don’t really see a difference between one brand to the next. What really differentiates a company is personal value. Emphasize the emotional outcomes of working with your company, and you’ll stand out amongst a sea of product characteristics.

Remember, You’re Talking to People

While it is easy to think of a corporation as a single entity, there are real human beings behind it. And that’s who makes the decisions. To keep this in mind, try creating B2B personas when investigating what type of content is relevant to your different segments. Remember, you are trying to gain attention from another person, just like you.

Utilize LinkedIn

While it may not be at the forefront of your mind when considering the buying process, 50% of B2B buyers use LinkedIn when making purchasing decisions. LinkedIn is the absolute preferred platform for creating a professional and authoritative brand.  With LinkedIn, you can connect with your prospects and maintain current relationships. You’ve also got access to tools like Sales Navigator, to help target different audiences and generate leads. And by joining LinkedIn groups, you can monitor different preferences or issues with B2B buyers, and share relevant content to provide solutions.

B2C companies aren’t the only ones who need to convey personal value to their markets. While logic and reason are important, buyers emotions count just as much when trying to make sales. It’s time to get personal.