What drives customers to make their ultimate purchases? What motivates people to select a certain product or service over others? We wish it were as simple as pricing disparities or customer service for B2B Sales Teams.
It's not the case. Consumers make final buying decisions for a variety of reasons. We'll look at the most important motivators and how a CRM database may help. But first, let's look at the major distinctions between B2C and B2B buyer motivations.
The Difficulties for B2B Sales Teams
We believe it is critical for B2B sales personnel to understand all customer motivations, not just those related to B2B sales. However, there are certain fundamental problems unique to B2B sales teams that seem to be worth exploring.
First, B2B sales must focus on long-term partnerships, whereas B2C sales can focus on transactional interactions. This has a clear impact on each strategy.
Long-term connection building has an impact on how businesses promote themselves. However, it is just as vital for both types of organizations in this case; it is just done slightly differently. B2B branding typically focuses on relationship branding, whereas B2C branding focuses on communications.
Because the sales cycle for B2B companies is so much longer, they must ensure that open channels of communication are established. B2C companies, on the other hand, have a tighter sales cycle and must concentrate on streamlining their message. This plan can assist them to avoid missing out on any possibilities.
These problems further emphasize the need for a CRM database to store and make pertinent data accessible. It provides all of the information needed to establish and nurture these partnerships, as well as guide customers in via the sales cycle.
To make matters even more complicated, the year 2020 has altered much of what we previously knew about B2B marketing. Gartner presented a report that identifies the six characteristics that will define the B2B buyer, including:
- Customer satisfaction is no longer sufficient to persuade businesses to purchase, it is only enough to get them to repurchase.
- If a purchase is excessively complex, unknown, hazardous, or disruptive, organizations lose interest.
- Customers must have faith in their own judgments in order to keep making purchases.
- Buyers can become overwhelmed by too much information, such as reviews and price comparisons, resulting in an inability to make a buying decision.
- Customers' perceptions of salespeople are crucial in closing deals.
- The degree to which customers trust the knowledge they have has a significant impact on whether or not they are able to close sales.
The reality of B2B sales is also worth investigating, but for the sake of this essay, we'll focus on the ten buyer motives that every B2B sales team should be aware of.
10 Customer Motives B2B Sales Teams Must be Aware
1. Great Fit
When a product or service meets a customer's demands, it's one of the most compelling reasons to buy. It's important to make sure your customers are aware of your products or services, as well as the concerns they solve, so they can decide if they're a suitable fit.
Some customers buy merely because they don't want to miss out on something. This is true of many B2C technologies or styles, but it is less true of B2B businesses. Marketing your products as the next must-have item can assist, but having a product that is highly sought is essential.
3. Fear in General
Another powerful B2B sales strategy is to capitalize on your potential customers' worries. Customers will pay attention if you give them a sense of urgency to buy based on their fears of damage, safety, or financial hardship. This is a typical strategy used by companies selling everything from alarm systems to toothpaste to convey the impression that consumers will suffer if they do not purchase the goods.
4. Overall Well-being
Physical and mental wellbeing are trendy topics these days and rightfully so, given the global health catastrophe, we're facing. The health implications of items or services on the market will motivate many potential buyers. Buyers can be easily motivated by considering the advantages that organizations can deliver to customers that are linked to their well-being.
You might be able to achieve impulse purchases by creating excitement about your product for select lucky B2C sales teams. This is less common in B2B sales, but if you can get them excited about your product, it may surely help with longer-term relationship building.
You can entice folks who have specific wants rather than requirements if you supply a product or service that can be deemed a luxury. Customers that have some disposable wealth and enjoy fast automobiles or peaceful holidays would benefit from this.
7. Financial Gain
Focusing on the financial gain consumers can enjoy is a primary buying incentive for B2B firms. Inform potential clients about how your specific solution will help them boost their return on investment. Most businesses understand the value of money.
Anything that aids in self-improvement is another prominent topic that inspires customers. Although this is primarily a B2C benefit, some B2B enterprises may profit if you can provide solutions for companies to assist their employees in achieving their self-improvement goals.
Competence is one of the most important motivators for business buyers. The buyer is significantly more motivated if the purchasing organization believes the selling organization is competent with its offering.
Credibility is another major buyer incentive. According to Forbes, publishing high-quality material in a helpful manner can help firms establish themselves as respectable and even experts in their fields.
What Can a CRM Database Do?
As we've seen, B2B sales face different problems than B2C sales. As a result, good CRM database suppliers enable B2B sales teams to collect, retain, update, and access all of their customers' and prospects' data in order to cultivate those priceless relationships.
Alore CRM is a comprehensive all-in-one CRM database system that not only collects this data but also allows for sales and marketing automation capabilities, allowing your teams to accomplish exponentially more in less time.
It's also available from anywhere because it's a cloud-based solution, which helps teams deal with some of the difficulties faced by many who continue working remotely.
Though it may appear tough to discover your specific consumers' reason, going to this list of top customer motives that your sales team must be aware of can make it easier.
Maintaining awareness of these top motivations will assist you in selling the correct advantages to the right clients and increasing conversions. Establishing an effective CRM database will be critical to collecting the necessary data to determine motives.