Buyer Behavior Reshaping B2B Marketing Practices

Buyer Behavior – In Brief

Consumer behaviour is the study of when, why, how, and where people do or do not buy product.

Testing Strategies – A Comprehensive Model

MARKETING

OTHER STIMULI

&

THE BUYING ORGN.

BUYING DECISION PROCESS

THE BUYING CENTRE

BUYER’S RESPONSE

ProductPricePlacePromotion

OrganizationalInfluences

Product or ServiceChoiceSupplier ChoiceOrder Quantities

EconomicTechnologicalPoliticalCultural

Interpersonaland IndividualInfluences

Delivery Termsand Times Service TermsPayment

Stages in Buying Process – Ahead

Step

NEED REGOGNITION & PROBLEM AWARENESS

INFORMATION SEARCH

EVALUATION OF ALTERNATIVES

PURCHASE

POST – PURCHASE EVALUATION

Organizational Buying Situations – Untethered Dynamics

STRAIGHT REBUY

MODIFY REBUY

NEED TASK

The Buyer routinely re-orders the same product or service with out any modification .

The Buyer wants to modify product specifications , price , service or supplier .

The Buyer purchase product or service for the first time .

Buyer Behavior – Who Controls Engagement ?

I called them directly

They contacted me cold

They contacted me after I asked for further information from their website

I chatted with them on their website via live chatHOW WAS YOUR FIRST POINT OF

CONTACT MADE WITH YOUR SALES REP ?

Less than 10% of Recent Buyers were contacted cold by the solution provider .

More than 80% said they contacted the solution provider directly .

Discovering Alternatives– New paths to Purchase

How would you describe the budgeting/approval

process for this recent solution purchase ?

Budget was taken from another line item after need was established

Determined potential impact through other adopters and built a business

Budget was allocated as part of larger line item - once need was established

Budget was determined post multiple bids

Budget for project was approved and allocated at the beginning

Less than 1/4 indicated budget was approved or allocated during the beginning of the year .

Buying Process – What’s New ?

33% of respondents indicated they determined – “the potential impact through other adopters and built a business case for immediate adoption”, ensuring approval although the project was unbudgeted.

Time to Change– The New Decision Making Process

48% utilized a wider variety of sources

48% took more time to research

36% did more detailed analysis of costs/ROI

30% had more internal team members provide input

27% relied more on live customer feedback and recommendations

New Age Connecticut –

TheInfluencers

THE INFLUENCERSHelping Buyers Navigate Through All Stages Of Buying

66% implies to consistent and relevant information

80% indicates timeliness of response

95% confirm on CONTENT

The After Effects– To do’s Post Purchase

59% likes to share information about the entire buying experience.

FORUMS USED :

o Participated in discussion forums

o One on One discussions

o Tweeted about it

o Blog postings

Preview – The Elementary Version

CAPTURE

NURTURE, SCORECONNECT

DEALS

$

Drive to Website

Convert via Form (Capture detailed information)

Nurture (Organization based practices)

Alert Rep of Buying Behavior (The final result)

Breaking Process – Capturing Insights

B2B Marketers relish the Extended Reach

Reach + Response = Revenue + Relationship

Changing Times – Changing Buyer

Buyers Embrace Collaboration

Behavior

Social and Digital technologies has allowed the influence and interaction not only be grown and widened. In simple terms, the era of collaborative buyer networks has arrived.

Buyers Want Co-CreationCollaborative networks are in line to co create products, services and for solving problems indirectly exerting pressure on B2B organizations to get in line with flexible offerings giving an upper hand to the buyers.

Buyers Want Less ContentYes content is important but make it concrete and relevant. Unnecessary content can have opposite effect on customers. So follow the mantra of less content – but smart content .

Buyers Want 1-to-1Conducting several reviews of lead generation and nurturing campaigns, it is seen that marketing may be inadvertently dripping back to the mode of 1 – to – many as opposed to coveted 1 – to – 1. This really is not the essence and marketers should optimize automation to the best possible way .

Buyers Want More Than InsightDon’t over use the idea of insight, every item cannot be classified as insight. Be more judicious that can actually counter balance the act of contributing insight .

B2B Marketing Upgrades

With rapidly changing buyer Behavior B2B marketing practices and tactics has to be upgraded only then a real connection can be established with buyers fostering networking and sales.

Agile = quick = stop watch = Q.

– More Agile, More Adaptive

Resources :customerthink.com

tutor2u.netslideshare.net

kenyaentrepreneur.hubpages.com

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