Highlights:
- When B2B buyers make a purchase, they initially assess various benefits, including functional, economic, and emotional advantages.
- Durability is a crucial factor for buyers assessing product quality and sustainability.
Unlike consumer buying, B2B decisions are lengthy and intricate, as they are multi-layered decision-making processes.
However, B2B buyers have some similarities with consumers, as they are also driven by a mix of emotional and practical needs particular to their enterprise’s goals.
Let’s uncover the key differences in the B2B buying process to attract decision-makers:
- Multiple stakeholders: Gartner’s research highlights that B2B purchases frequently involve up to ten people with varying expertise, turning decision-making more intricate.
- Accountability: Decision-makers are answerable to others within their organization, leading to more complexity.
- Time investment: Gartner’s studies unveil that B2B buyers invest 45% of their time in separate research, only 6% interact with sales reps, and 82% find sales reps unprepared.
Decoding B2B Purchases: What Factors Impacts B2B Decision-makers?
The stages of the B2B buying process are complex, with various stakeholders considering long-term value. Unveil these seven key factors that drive B2B purchases:
-
Industry expertise
B2B marketers majorly invest in B2B content marketing initiatives with the help of white papers, research reports, blog posts, and guides.
They aim to create their company as a thought leader in the industry, furnishing B2B buyers with unique expertise when they search for solutions to their challenges.
Opposite to this, B2B buyers consider expertise when they plan to purchase. Interestingly, they prefer those companies that educate them about the issues and offer expert advice throughout the buying process.
To back this up, HBR says 68% of salespeople believe that furnishing more information helps buyers make better decisions.
-
Product longevity
Durability is an essential factor for buyers verifying product quality and sustainability. It aligns with the product’s ability to be functional over time without major deterioration or maintenance. Durable products assist in reducing waste and saving businesses resources.
For B2B buyers, product durability is a major element while making purchasing decisions. They are frequently willing to invest more in a product known for its durability than choosing a cheap or less durable option.
When evaluating durability, B2B buyers take into consideration:
- Product’s longevity
- Functionality levels
- Available warranties
- Potential upgrades
-
Product performance
Product performance is a necessary consideration in the B2B buying process. Evaluating performance goes beyond just knowing a product’s features and advantages; it involves evaluating how well the product tackles its specific problems and its overall functionality.
To assess product performance, B2B decision-makers review product demos, descriptions, and white papers most of the time. They also examine customer reviews, testimonials, and case studies.
-
Product pricing
When B2B buyers opt to buy, they first evaluate various benefits, like functional, economic, and emotional advantages.
Decision makers in B2B organizations will gauge the following:
- A product’s price in relation to its performance
- The value product provides
- Product’s psychological impact on users
- Product’s potential to save time and money
While B2B buying stages consider the value a product or service provides, they also take into consideration whether this value is reflected in the product itself. The other factors considered by B2B decision-makers include:
- Discounts
- Credits
- Allowances
To put it plainly, B2B buyers frequently compare prices from different suppliers and those who offer the most competitive prices with no hidden costs.
-
Production capacity
When considering suppliers, decision-makers assess product quality as well as the supplier’s ability to provide the expected products or services within the necessary timeframe.
In the end, supplier capacity is essential because ordering from a supplier who cannot satisfy the demand will not only disrupt business operations but also result in a waste of time and resources.
-
On-time delivery
For B2B buyers, on-time delivery of products is crucial. While ensuring efficient and prompt delivery may seem straightforward, suppliers who excel in this area can distinguish themselves from the competition.
When assessing suppliers, decision-makers often discuss their ability to deliver goods or services within the required timeframe. The key factors evaluated consist of the following:
- Ordering and shipping procedures
- Product safety during transit
- Availability of insurance
To gauge these, B2B decision-makers review supplier websites for information on shipping options, costs, insurance coverage, estimated delivery dates, maximum order quantities, and tracking mechanisms. They tend to choose suppliers that offer the best delivery solutions based on how urgently the goods need to be delivered.
-
Customer service
Customer expectations and demands have turned extreme dynamic; hence B2B customer service is becoming a vital element of the B2B purchase process.
Buyers seek products and services and at the same time expect prompt help whenever they face issues. In such a scenario, customer service impacts the overall experience B2B buyers have with your business.
In recent times, B2B buyers are placing greater value on the quality of their experience than on the products or pricing.
The buying processes in B2B consider various factors, and hence, they are slow and time-consuming. As a marketer, you need to be patient and careful in all the steps of the B2B buying process.
Concluding Lines
Finally, the B2B buying decision process is a collaborative work, not a one-person game. Decision-makers meticulously verify options for sustainable value.
Finally, mastering these seven key buying considerations will give you direction to provide the right information and guide them toward your solution.
Enhance your expertise by accessing a range of valuable sales marketing-related whitepapers in our resource center.