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B2B Consumer Behavior Secrets
60secondcommunications™
Presented by Jamie Turner, CEO of 60 Second Communications, and Author of Go Mobile and How to Make Money with Social Media
Introductions
I’ve written a few books
I get on TV sometimes
And I’ve helped a few clients you
may have heard of
But the thing I love to do most is to help people like you
SELL MORE STUFF
Let’s talk about B2B consumer
secrets
Secret #1: The second B in
B2B is actually a C
That said, there are some distinctions1. Fewer, larger buyers: The fate of Goodyear is in GM’s hands 2. Close buyer-customer relationships: A paper company may
sell to a chemical company which is also a supplier to the paper company
3. Professional purchasing: Requests for quotations, purchasing contracts and proposals are not typically part of the B2C world
4. Several buying influences: More people typically influence the buying decision
#B2BSecrets
That said, there are some distinctions5. Multiple sales calls: Sales cycle is much longer 6. Inelastic demand: Shoe manufacturers aren’t going to buy
much more leather if the price of leather falls 7. Geographically concentrated buyers: More than half of U.S.
business buyers are concentrated in 7 states: NY, CA, PA, IL, OH, NJ, MI
8. Direct purchasing: Business buyers often buy direct from a manufacturer
#B2BSecrets
Secret #2: Sometimes people don’t know why
they prefer one brand over anotherBaylor University proved this with a blind taste-test with Coca-Cola and Pepsi.
THE STUDY HIGHLIGHTED THE IMPORTANCE A BRAND PLAYS IN
PURCHASING BEHAVIOR.#B2BSecrets
Secret #3: People buy for emotional reasons
and then rationalize their purchase with logic
[Despite what Porsche buyers will tell you, nobody actually buys a Porsche for logical reasons]
#B2BSecrets
Secret #4:
Women are smarter than men
Secret #5: Sometimes people buy for reasons
that “reason” will never know
What are people really buying when they purchase a cup of coffee?
Secret #6: There are 10 questions you should ask before you launch your next
B2B marketing campaign
1. Who buys our product or service? 2. Who makes the decision to buy the product? 3. How is the purchase decision made? Who assumes what role? 4. What is the customer really buying (e.g., what are the hidden reasons for
purchase)? 5. Why do customers buy our brand? 6. Where do the go or look before buying our product? 7. When do they buy? Are there seasonal factors? 8. How is our product perceived by our customers? 9. What other factors might influence the purchase decision? 10. How do personal or demographic factors influence the purchase decision?
10 Fundamental B2B Questions
#B2BSecrets
Secret #7: The B2B purchase is much more complex than the B2C purchase
• Initiators: Those who request something to be purchased
• Users: Those who will be using the product or service
• Influencers: People who influence the buying decision
• Deciders: People who decide on product requirements or on suppliers
• Approvers: People who authorize the proposed actions of deciders or buyers
• Buyers: People who have formal authority to select the supplier.
• Gatekeepers: People who have the power to prevent sellers or information from reaching members of the buying center
Go Away
#B2BSecrets
mid-sizedA small business isn’t a businesses
Secret #8: Don’t lump small and mid-sized businesses together into SMBs
1. Don’t think of a small business as a mid-sized business: There’s a big gap between $1 million in revenue and $50 million in revenue
2. Don’t waste their time: No entertaining sales shows or sales pitches over long lunches
3. Do keep it simple: One point of contact 4. Do your homework: The realities of small or midsize business
management is different from those at large corporations
How to Do Business with a Small Business
#B2BSecrets
Secret #9: There are four essential types of
business customer
1. Price-Oriented Customers: Price is everything 2. Solutions-Oriented Customers: They want low prices but will
respond to arguments about lower total cost or more dependable supply or service.
3. Gold-Standard Customers: They want the best performance in terms of product quality, assistance, reliable delivery, and so on.
4. Strategic-Value Customers: They want a fairly permanent sold-supplier relationship with your company.
Four types of business customer
Key points to remember
1. Compared to consumer markets, business markets generally have fewer and larger buyers, a closer customer-supplier relationship, and more geographically concentrated buyers.
2. The B2B buying process involves initiators, users, influencers, deciders, approvers, buyers and gatekeepers.
3. Business marketers must form strong bonds and relationships with their customers and provide them added value.
About 60 Second Communications We create mobile, social, content, online display and lead
generation campaigns for some well-known brands
