by Elizabeth Hines | Aug 31, 2017 | Blog, Marketing, Strategy, Supply Chain
As B2B buyers expect customized sales experiences, sellers can use these 3 tips to offer personalization at scale.
One of today’s biggest challenges facing B2B sellers is the increasing expectation of personalization as part of the buying experience. The seller’s task of offering personal experiences for all leads is a daunting one, particularly with limited time and marketing budgets.
As companies become increasingly focused on risk-mitigation in the buying process, they are far more inclined to trust vendors who can demonstrate that they understand and can address their specific needs and risk factors. According to Demand Gen Report’s 7th Annual B2B Buyer’s Survey, 89% of respondents stated that winning vendors “provided content that made it easier to show ROI and/or build a business case for the purchase.”
While the task of personalization may be daunting, it’s not impossible. And it’s certainly worth the effort. Here are three strategies your business can use to personalize sales pitches and make your marketing dollars work more efficiently.
3 ways to offer personalization at scale
1) Target smarter
We all know that social media platforms offer a wealth of demographic information. One of the most valuable insights it offers is intent signals: things like job changes, social posts, and hiring patterns, all of which can help your sales team identify the right time and strategy for reaching out to a potential buyer. You can use social media features built into the platforms themselves, like advanced filters and lead bots, to identify qualified leads.
Beyond identifying leads, smart targeting involves well-written and targeted online ads. According to Demand Gen’s report, “Online ads are shaping early behaviors and opinions of B2B buyers. 63% of respondents said they noticed ads from the solution provider they chose during the research phase.”
2) Demonstrate your understanding
Justin Shriber, vice president of marketing for LinkedIn sales and marketing solutions, reports that “80% of buyers don’t believe that the salespeople they deal with understand their business.” Most of this perception, Shriber says, is driven by the way salespeople converse with potential buyers. Using generic openers, and talking more than listening, reinforces this negative perception.
Set yourself apart by making sure that your opener lets the potential buyer know that you are paying attention to his/her particular needs and challenges. Make use of the information you’ve gleaned from social media to open the conversation by addressing a need or question the prospect has recently voiced.
3) Engage more closely
An important aspect of the personalization B2B buyers and consumers alike have come to expect is ongoing engagement. “When sales professionals are unable to provide ongoing value,” says Shriber, “the buyer feels no obligation to maintain a dialogue.” Continuing the conversation throughout the buying cycle is key to keeping the potential buyer invested. In addition, the most effective sellers use technology like email tracking and PointDrive to gauge whether the information they’re sharing is hitting the target. These technologies provide sales professionals with a feedback loop that they, in turn, can use to tailor future interactions.
Related posts:
by Elizabeth Hines | Jun 1, 2017 | Blog, Content Marketing, Marketing, Strategy
Today’s B2B buyer’s journey involves more research, more internet searches, and more social media.
We’ve said it before: The B2B buying process has changed, and you need to adapt. The vast amount of information available on the internet has afforded buyers a level of self-sufficiency that renders traditional sales models moot. It drives the need for new strategies, like content marketing and social media marketing.
How can supply chain and logistics businesses adjust to the new way of doing things? The latest B2B Buyer’s Survey offers insight into how B2B buyers are finding vendors, engaging with them, and — ultimately — deciding to work with one. Some of the statistics are very telling and give vendors a good idea about where they need to invest their time and money in order to get buyers’ attention
10 stats about the B2B buyer’s journey
1) Length of buying process
The B2B buying process is becoming longer and more complex because the majority of buyers (82%) are using more sources to research and evaluate products and services, and they are spending more time in the research phase itself.
2) Web search is first
62% of B2B buyers say that a web search was one of the first three resources they use to learn about a solution.
3) Online eventually
In fact, in a different study, 94% of buyers reported using online research at some point in the purchasing process.
4) Searching for what?
71% of B2B researchers start with a generic search — rather than searching for a particular company.
5) How many searches?
B2B researchers do an average of 12 searches before engaging with a specific brand’s site.
6) Self-sufficiency on the sales path
Buyers are 57% of the way down the sales path by the time they engage with a brand’s website, meaning they have already spent a fair amount of time educating themselves with the enormous amount of information available to them on the internet. For logistics companies, that makes social media in transportation and logistics a key part of the research phase.
7) Social media plays a role
And content isn’t limited to your website: A vibrant social media presence helps buyers conduct their research. In fact, more than half (53%) of B2B buyers report turning to social media to make buying decisions.
8) (More than ever)
What’s more, more than a third (34%) say they are spending more time this year than last using social media to research vendors and solutions.
9) LinkedIn is B2B’s network of choice
LinkedIn is reportedly the most impactful to the research process. 81% of respondents said it was very important or somewhat important.
10) But don’t discount video
And, believe it or not, video sites like YouTube and Vimeo are playing an increasingly important role in the B2B buyer’s journey, with 60% of respondents ranking them very important or somewhat important.
Related posts:
by Elizabeth Hines | Apr 20, 2017 | Blog, Manufacturing & Distribution, Strategy, Supply Chain
Industrial product buyers are changing how, why, and where they buy. Are you prepared to accommodate their preferences?
Distribution has always been an industry built on relationships. The loyal customer favored companies where they developed strong working relationships with a sales representative.
But recently distributors have felt a shift in the tide. Buyers have grown impatient with one-on-one sales relationships and quickly embraced the convenience of buying directly from manufacturers, for one. Distributors are left scrambling to keep up with such trends.
So how do distributors stay ahead of the game?
UPS recently conducted a study of the behaviors, preferences and perceptions of industrial product buyers. It found four major market forces driving change: customer demands, direct-from-manufacturer purchasing, e-commerce, and millennials. Additionally, the study offered up a few interesting takeaways we thought were worth highlighting.
5 trends in industrial product buying
1) Purchasing drivers
The study asked for the top five factors that are most important when purchasing industrial supplies from buyers’ preferred distributor size. Though “best prices” was a top contributing factor across the board, as you can imagine, other answers varied from small distributors to large.
For those purchasing from smaller distributors, 58% of customers ranked personalized service as most important. Among those preferring large distributors, 61% of buyers wanted a wide selection of products.
Takeaway: There is a strategic opportunity for mid-size distributors to cater to both types of buyers. Mid-size distributors focusing on larger selection with personalized service can offer customers the best of both worlds.
2) Friends stick with friends
Word of mouth is still the top tool buyers use to research a new distributor. Studies have shown that consumers trust recommendations from people they know more than any other form of advertising, and the same is true for distribution. Personal references and word of mouth are heavily influencing buyer trends.
Takeaway: Distributors need to have their ears to the ground and really focus on what buyers are saying. If the word on the street is that your company needs to make changes, make them. You want to consumers raving about your company, so others will follow suit. Also, consider the value of review sites.
3) Internet is king
The importance of the internet is old news. But UPS’s study found a substantial jump in buyers’ going online to purchase industrial supplies. In 2013, 57% of buyers were hitting the web, and that number grew a significant 9% in just four years.
Takeaway: Suppliers need to make sure that their websites are a one-stop shop for customers. Buyers need to be able to find answers about products, confirm product details, and access their negotiated prices all online. Spending the time and money to update your website is key to giving buyers a preferred way to make purchases.
4) User-friendly everything
Along with wanting to make purchases online, industrial product buyers want the ease and convenience of user-friendly websites. 72% of buyers said they would shift their spending to a different distributor with a more user-friendly website, and that number increases to 85% with buyers age 21-30. These findings confirm the shift from relationship-based buying to the experience-driven trend.
Takeaway: Brand loyalty is no longer based solely based on product quality and personable sales staff. Distributors need to take into account convenience, speed, and a good customer experience. What appeals to customers is the ease of their online service. Staying ahead of trends will involve constant maintenance of your website and its usability.
5) Cross-channel consistency
Industrial product buyers may be making most of their purchases online, but they are definitely checking in with friends and social media before making any decisions. Oftentimes websites don’t provide enough information, and, by default, they rely on other channels to confirm details before making purchases.
Don’t let users find conflicting messages from different resources. Cross-channel consistency will give your company an edge on the competition.
Takeaway: Make sure that your off-site and onsite messages are clear across all channels. Examining the buyer experience on and offline — and making sure that all channels are communicating the same message — can elevate your company’s position among your competitors.
Related Posts:
by Elizabeth Hines | Jan 31, 2017 | Blog, Content Marketing, Marketing, Social Media, Strategy
Sales teams can use social media to cultivate relationships with potential buyers, a process called social selling.
With the dawn of the social media age and the exponential increase in choices and information available to buyers, we’ve seen a massive shift in the way B2B sales occur. According to the Harvard Business Review, a striking 84% of B2B sales start not with a salesperson, but with a referral.
As outbound sales become decreasingly effective, peer recommendations are influencing more than 90% of all B2B buying decisions. So how do we make the shift from outbound sales to this new reality? One of the more popular answers is social media.
It’s likely that your organization has some sort of social media marketing strategy in place. But making full use of these platforms requires a more nuanced, well-rounded strategy than blanket social media marketing. It’s time to introduce the idea of “social selling.”
Social media as a sales tool
In a basic sense, social selling is the strategy of adding social media to the sales professional’s toolbox. This means using social platforms to research, prospect, and network by sharing curated educational content and answering questions. The key is building relationships until prospects are ready to buy.
So what’s the difference between social media marketing and social selling, and why is it important? While both are necessary to an integrated marketing and sales strategy, the former is about engaging many — with the goal of increasing brand awareness or promoting a specific product — by producing content that users will ideally share with their networks.
Meanwhile, social selling means producing focused content, and providing personal communication between the salesperson and the buyer. Again, the key is building and cultivating a relationship using social media platforms.
How to start social selling
The benefits of social selling are numerous and significant. For example, according to a LinkedIn survey, B2B buyers are five times more likely to engage with a sales rep who provides new insights about their business or industry. Social media is a powerful engagement tool, giving sales people a platform for sharing these insights.
Here are some steps your sales team can take to implement social selling.
1) Put it in your calendar.
Allot a small portion of your day for social media. It doesn’t take a big time investment to reap the benefits of regular interaction with your prospects.
2) Integrate sales and marketing.
Encourage collaboration between sales and social marketing departments, to make the most of both efforts. HBR suggests that “marketing can train salespeople in social media systems, processes, and best practices.” In addition, sales and marketing should be regularly sharing information to make sure their goals are aligned, and efforts are dovetailing. According to a study by Data Room and Marketo, “sales and marketing alignment can improve sales efforts at closing deals by 67% and help marketing generate 209% more value from their efforts.”
3) Prioritize relationship-building.
Focus your business’ ongoing efforts to building and cultivating quality relationships with prospects. This means building in time every day for personal communication. Make your prospects’ needs your priority.
The bottom line here is building and maintaining relationships. Social media — and social selling — are powerful tools for doing just that.
Related posts:
by Elizabeth Hines | Aug 9, 2016 | Blog, Content Marketing, Marketing, Supply Chain
As buyers spend more time researching vendors online, your business’ digital content should anticipate the questions, problems and needs of your target buyer so that you can make their short list.
Want to appeal to — and close sales with — more customers? Your content must speak directly to your target audience’s needs and wants.
According to Demand Gen’s 2016 B2B Buyer’s Survey Report, nearly half of buyers (48%) report that their purchase cycle has increased since last year. One of the main reasons: they are spending more time conducting research and using more sources to investigate purchases.
That means potential customers are scrutinizing vendors more than ever before. As a vendor, your business should be examining your digital content to ensure it meets the expectations of B2B buyers seeking products and services like yours.
And what, exactly, are buyers looking for?
When researching a vendor on its website, Demand Gen survey respondents reported overwhelmingly that “content that speaks directly to [my] company” is the single-most influential aspect of the website. In fact, 96% rank that somewhat important or very important.
Therefore, your business should be creating content that answers questions, solves problems, and makes life easier for your target buyer. When they are reading your website, blog, or social media posts, they should feel like you understand their pain points and concerns and that you have the exact solution their specific business requires.
What else is important to buyers?
When it comes to conducting research on a vendor website, buyers ranked the following factors, in order, behind content speaking directly to their companies.
1. Easy access to pricing and competitive information
Can anyone navigating your website quickly and easily find what your products or services cost? Or have you hidden or excluded that information?
2. Vendor-focused content
Buyers want to understand not just who they are buying from but, more importantly, what you can offer them. Case studies detailing successes of your other customers, product data sheets illustrating technical characteristics and performance metrics — buyers crave this kind of information.
3. Search and navigation tools
Buyers want to be able to quickly find exactly what they are looking for. Your website should be easy to navigate and very user-friendly.
4. Easy access to content
Are you hoarding high-value resources behind lengthy registration forms in order to extract as much information as possible from your leads? You may be losing prospects because of it. Keep your forms short and sweet.
5. Relevancy of website speaking directly to the industry/company
You understand the business environment in which your customers operate. Your website should convey this knowledge so that prospects can recognize your expertise and trust your business and its solutions.
6. Thought leadership content
Expert content like whitepapers, reports, and infographics elevate your brand image and establish you as a leading voice in the industry.
Related posts:
