Although B2B marketers are now offering a wide array of products and services, new research suggests that B2B buyers are still challenged to search, identify and choose the right solutions for their needs.
Part 3 of Merkle Loyalty Solution’s “B-to-B Loyalty Report” recently shed light on these challenges and how they impact B2B buyers. The majority of buyers (65 percent) claimed that their largest obstacle is that B2B marketers are too concerned with selling than listening to their audience’s needs. B2B buyers are also challenged because marketers do not understand their needs (31 percent) or their company (30 percent).
“B-to-B sellers who can hit the ground running with their new clients — already familiar with their business operations, daily challenges, and pending opportunities — have a far better chance of creating additional B-to-B relationships and closing deals than sellers without the necessary background or industry knowledge,” wrote the authors of the report.
When it comes to making purchase decisions, a personal brand reference appears to matter to B2B buyers. About 61 percent of North American B2B buyers claim that when they have a personal brand preference, they are more likely to buy a B2B product or service for business. Approximately 26 percent stated that they are at least more likely to consider it.
Product Marketing and B2B Buyer Loyalty
In Part 2 of Merkle’s “B-to-B Loyalty Report,” research indicated that there were other factors that played a role in buyers’ loyalty as well.
The majority of North American buyers (77 percent) stated that reliability keeps them coming back for more. This was followed by prices/discounts (63 percent) and excellent customer service (60 percent).
“Attuned as they are to the importance and profitability of sustained relationships that build loyalty, B-to-B programs can leverage dedicated support to build and sustain relationships with their own business members,” wrote the authors of the report.