Reputation is the #1 Reason Companies Buy From You (B2B Sales)
Your reputation is a key component to succeeding in business-to-business (B2B) sales. A new report by GoodFirms shows that buyers select “reputation” (30.2% of respondents) as the reason they work with an existing business. This is followed by “online ratings” (20.9%).
For your customers, GoodFirms goes on to state that online ratings, “help them set realistic expectations about the services compared to the advertised one.”
The online research company says, “Genuine and authentic, user-generated content such as online reviews and ratings provide more sense of credibility to B2B buyers than core marketing content developed by the sellers.”
Price Disagreements is #1 Reason for Delay in Buying
GoodFirms recognizes that B2B sales take longer than B2C because pricing is often negotiated, “Price negotiations are often met with resistance and objections from both parties. These two factors tend to dampen the buying process.” The result is that 24.4% of the buyers say this disagreement delays the purchase of a product.
Insufficient Information comes in a close second, however, at 19.5% with additional information needed around data and clarifications.
Complicated processes that involve additional departments within the buying or selling company also makes it harder to get sales finalized.
Additional Factors
The report further points out other sales success factors:
- Website: Product, Services, Offerings as a critical piece (50%), Pricing (21%), Years of Experience (14%), Testimonials (9%) and Clients 4%)
- Social Media Content: is the most effective marketing according to 87.8% of B2B sellers followed by blogs (65.9%) and videos (56.1%)
- Email is Preferred Buyer Response: buyers say email (72.1%) is their preferred way to reach sellers followed by phone (55.8%) and social media (46.5%)
Don’t miss other sections of the report that talk about personalization, delivering on promises, how buyers share poor experiences, and factors that matter the most to buyers.
