How you stand out from the competition is everything — what are you doing to stand out? Is your business reaching your target market customers? Several business industry surveys have discovered that business buyers don’t want a “one size fits all” approach.
It’s easier than ever for buyers to get information about products and services online. As a result, buyers now spend about half of their time researching, both online and offline, and less than 20% of their time meeting with potential suppliers and partners.
In this evolving digital and brick-and-mortar landscape, how can you customize your B2B sales strategies for maximum impact? Keep reading as we dive into it.
Helping Prospects To Navigate Complex, Challenging Customer Journeys
According to Gartner, almost 80% of B2B buyers said their latest purchase was “very complex or difficult.” Why? There are anywhere from six to ten decision makers who are involved in most business purchasing processes. Each of these decision makers can bring four or five different pieces of information to the process.
Add in dozens of options – as new technologies, suppliers, and types of services continue to emerge – you could see how it becomes a complex process.
In this environment, “one size fits all” marketing messages are unlikely to succeed. Personalizing and customizing your sales strategies and messaging is essential to your success with prospects and current buyers alike.
Personalize At Each Step In the Buying Journey
Generally, the B2B buying process involves four major steps:
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Problem Identification: Businesses realize they have a problem or need, and they start the process of researching.
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Solution Exploration: At this point, most businesses will have an approved budget, and are ready to take a deeper dive into solutions. Staff members can become involved, along with peer discussions and sales demonstrations.
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Requirements Building: By this point, depending on the product price range and complexity, buyers identify their base requirements, along with desirable, but non-essential features. They may issue RFPs (Requests for Proposal) and multiple staff may visit your website, along with competitor sites. They may also review social media information about products and services that are “in the running.”
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Supplier Selection: At the final stage, B2B buyers are ready to make their choice. Changes can still occur at this point, including budget cuts and input from company leaders, like CEO or Owner. However, at the end of this stage, a supplier is selected, contracts are issued, and payments are made.
At each step, you can see how personalization is not only important, it can vary depending upon the channels you’re using to reach the customer.
In a serious buying process, the lead buyer will speak with your lead sales representative. The two should be able to get to know one another better by working together. This is where one-on-one sales skills come into play. However, it’s your job to get to the point where the buyer or committee is in personal contact with your sales team. If they visit your website and see generic information that doesn’t respond to their needs, that job becomes much more challenging.
Personalization Opportunities In The B2B Buyer Journey
Early in the buying journey, you can personalize marketing materials like white papers and surveys. Statista reports that 63% of marketers see an increase in conversion rates when they personalize B2B ecommerce experiences.
Here are some other examples of opportunities for personalization early in the B2B buying process:
Problem Identification: At this point, many businesses may know they have a problem, but they may not have narrowed it down to the point where they know which product or service would solve the problem. Knowing your industry well can help you to personalize your solutions to various sizes and types of business. You can also use the “4 Rs” of personalization: recognize, remember, recommend, and relevance.
At this stage, prospective customers will be searching independently to learn more. They can conduct both online and offline searches. Your website and app can recognize repeated searches and remember what they are. You can then recommend relevant information, such as white papers about problems and the solutions that your products and services can provide.
Solution Exploration: Once a buyer has identified their problem(s), you have the opportunity to present your products or services as the solution. Gartner has discovered that B2B buyers often “loop” the steps they follow, conducting additional independent research, both online and offline. Here are a few steps you can take to personalize your channels that reach your prospective customers when they’re looking for solutions:
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Align visual elements with your prospects’ needs and interests. This can be as simple as selecting visual assets that match how your prospects see themselves and their businesses; for example, if you’re offering construction industry estimating software, use images that feature job sites, materials, and realistic-appearing construction workers.
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Establish a tone that appeals to your prospects. A suite of financial services management products will probably use a more serious tone than a business that supplies scheduling software for the restaurant and bar industry. Buyers are often more – subconsciously – receptive to those who “speak their language”.
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Choose optimal timing and channels. Is there such a thing as too much personalization? Yes, some businesses can go overboard with repetitive messaging or pop-up ads. These can turn-off, instead of turn-on, buyers. Harness your own data to uncover optimal times for emails and responses on your website. You can also select different channels to reach customers via video or social media, as well as emails and newsletters.
Further down in the buyer journey, it makes sense for you to have resources available to serve specific needs. Product demonstrations, trial periods, and sales presentations help show potential customers you understand their needs.
Another part of personalization that shouldn’t be forgotten – understanding the complex interactions that can lead to a conversion and sale.
For example, if your sales team has been emailing a prospective buyer and they responded with “I’ve taken the proposal to our committee,” don’t individually email said committee members, even if you know who they are. Instead, work to support your point of contact and provide any information necessary, as quickly as possible, as the contract advances in the buying and selection process.
According to Forbes, personalization “goes beyond adding a name to an email blast.” How buyers experience your website, app, and any other marketing materials should differ depending on their needs and the problems that your product and services are intended to solve.
Personalization in the sales and marketing environment means providing the experience that your prospects and current customers expect and want. Website optimizing firm eConsultancy’s Optimization Report found that 80% of businesses see sales growth after they begin to personalize their marketing channels. With many businesses taking up to a year – and even longer – to make final decisions on major purchases, communicating with prospects throughout their buying journeys is more crucial than ever.
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