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While B2B suppliers often feel that they must compete on price alone, they have an ability to extract a higher price from their B2B customers and provide greater customer value by focusing on all of the offerings that they provide.
Business-to-business (B2B) buyers often rely on online reviews to make purchasing decisions. However, the impact of a positive or negative review can often vary depending on if the review is written on an internal or external channel.
Trends in the B2B world allow customers to continuously evaluate their relationships with their suppliers. Reacquiring lost customers can often be rewarding for B2B suppliers. The article outlines several customer reacquisition building blocks.
Companies selling to B2B customers face two key issues: managing the salesperson channel and managing the customer-specific discounts often utilized to drive sales. Companies must determine if customers using online channels would benefit from also being served using salesperson channels, or if utilizing salespeople in such a way would be a waste of valuable resources. Lawrence et al. (2019) provide compelling evidence that sellers gain approximately twice as much net profit from customers that have greater contact with salespeople. The interpersonal relationships that salespeople forge with buyers in the B2B context may bring forth positive financial outcomes.
Sales negotiation over email exchanges between sellers and buyers (e-negotiation) is increasingly common in B2B sales. The use of influential tactics as textual cues in emails to manage buyers’ attention significantly affects sales outcomes. To test the effectiveness of influential tactics in e-negotiations, the authors of this study analyze seller-buyer emails over a two-year period part of 40 e-negotiations, along with other data sources and a controlled experiment. In an era where remote working is more prevalent than ever, e-negotiations are more important than ever. It underscores the relevance of this research.
B2B buyers are not longer “information seekers” but have become “super experts”. This Harvard Business Review article explains how B2B sellers need to align their selling approach to the buyer who is increasingly independent and highly informed. Smart sellers will find a solution that is consistent yet customized.
Do B2B buyers really want to be left alone? Research in this Harvard Business Review article suggests that there are a lot of frustrated and unhappy B2B buyers out there who could use a little help. By acting like a travel agent, B2B sellers can smooth out the sales process and guide customers to a more satisfying end.
Social Selling may be the new platform for your B2B sales force. This Harvard Business Review article provides ways your salespeople can use social media to engage with buyers who don’t want to face a sales pitch. Social Selling is the solution to achieving a more customer-centric experience that adds an element of fun.
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