Understanding Customer Behavior In Global B2B Markets

The buying behaviors and reasons that guide your customer’s decision-making journey are naturally complex in high-value complex B2B sales situations.  

Possibly involving new projects with various stakeholders, and it may be impossible for the average salesperson to ever fully comprehend them.

For anything other than necessary purchases, your consumer often has a variety of options, each with advantages and disadvantages.

Consensus is frequently difficult to achieve since each of the various parties is likely to have different personal goals, priorities, and decision criteria.

Secrets to discover

Perhaps it’s not surprising that so many seemingly good sales chances fail because the client decides to either do nothing or put off the job until a frequently ill-defined future date.

And it makes sense that “no decision” is currently the most typical conclusion for such undertakings, according to numerous research.

When it comes to understanding B2B buying behavior, there are a few critical concepts that your sales team needs to be aware of. Let’s discuss them in this article.

B2B buyers make emotional purchases

The majority of us think that a B2B sale is only based on rationality, but in reality, emotions play a significant role in the decision.

We all hate to admit it, but when it comes to purchasing B2B products, part of our choices are based on feelings, such as how the website looks, how the product is packaged, or even how well we get along with the salesman.

Consider that you are looking into two distinct brands of copiers. If the two brands are extremely similar, a large portion of your decision will be based on feelings, even to the extent of basing it on whether you find the salesperson attractive.

This trick can be used to affect your sales process. Sometimes, the appeal of your sales force, the style of your website, the color of your logo, or other factors will play a role in the emotion. Emotion is a potent tool for both the global B2B marketplace and B2C since, in the end, it ultimately leads to a sale.

Six essential participants in B2B sales

The fact that you normally deal with one consumer while making a B2C sale gives B2C marketers an advantage over B2B marketers. (For instance, if you’re selling aspirin, all headache sufferers must buy your goods.)

However, there are six major groups of persons who can affect a B2B sale. They, who? Here it is:

Initiators

The persons who ask for something that needs to be bought are known as initiators. In other words, they start the cycle of purchases.

Users

Users are the individuals who will make use of the good or service. Even while the originator and the user are occasionally the same people, this is more often in larger organizations.

Influencers

These are those who have a say in a consumer’s choice. They frequently diverge from initiators and users.

Deciders

Those who make decisions about the specifications for a product or about potential suppliers for order fulfillment.

Buyers

Those with the formal power to choose the supplier.

Gatekeepers

Individuals with the authority to bar sellers or information from reaching buyers.

Most B2B customers have four primary driving forces

The B2B sales process allows for up to six different types of important influencers, but each of these six is motivated by one of four different factors.

Which four factors motivate people? Let’s look at this:

Price

Some B2B clients are only interested in price. These are difficult clients to work with because they will always search for someone who will complete the task for less money, regardless of how much value you provide.

Be cautious when dealing with consumers who are only interested in price because they can turn out to be that nightmare customer who always wants more help. They waste your money and annoy your workers.

Solutions-Oriented

These clients are still driven by price, but they will take notice of claims that the overall cost is cheaper or that the supply or service is more dependable.

Gold-standard

These clients demand the best results in terms of service quality, support, dependable delivery, and so forth. And they typically have the money to pay for it.

Strategic value

These clients desire a pretty long-term, strong supplier relationship with your business. For instance, when operating in the Chinese B2B platform, be extraordinarily loyal that they’re even better than Gold-Standard clients, which makes working with them a blessing.

They also tend to become evangelists, which you may use to your advantage for your marketing initiatives, and they cost you less in overhead, making them more profitable.