The Buyer’s Journey

Gone are the days when a B2B buyer learns all about your company’s capabilities  from your sales team. The digital nature of our world has changed not only the way consumers buy, but also how B2B companies buy. Most consumers, like myself, make Google their first stop before making a major purchase. We do research on multiple sites about the product, look for reviews and ratings, watch videos and talk to our friends and family, ultimately looking for proof that we are making the best decision.

How buyers are spending their time_Gartner.JPG

Guess what?

Your B2B prospects are doing the same thing, and more often than not, there is a whole team of stakeholders doing similar research – all with different needs and perspectives.  Your typical medium-to-large business buyer is actually a team made up of an average of 6.8 people across various levels and departments making the whole buying process even more complex.

According to the 2018 B2B Buyers Survey Report by Demand Gen:

  • 31% of buyers said the length of their B2B purchase cycle has increased significantly compared with a year ago

  • 45% of buyers are spending more time researching purchases compared to last year

  • 79% said there are between one and six people involved in the purchase process

  • 65% of buyers rely more on peer recommendations and review sites

  • 62% noted a desire for sales to demonstrate experience with or knowledge of their industry

  • 76% of respondents want content that speaks directly to their company

By the time you get an opportunity to talk to a prospect, it’s likely that they’re already feeling overwhelmed with information and feeling stressed about trying to come to a consensus in a big buying group.  What are some of the things you can do to help them on their journey?

  1. Be an expert. Know your own content really well, and what’s happening in your industry.  Help your prospects make sense of all of the information about existing solutions..  By reading just 15 minutes per day on your chosen knowledge domain, you will be well prepared to share current industry trends and insights.

  2. Be relevant. Do the research to understand the company and the challenges they face. Have a relevant hook to start a warm conversation, rather than talking about a generic problem or solution.  Be prepared with solutions, stories and situations that they can relate to their own experience.

  3. Don’t sell. Listen & advise.  In those first few conversations, one of the best ways to build trust and a relationship is to spend time uncovering the problems even the ones your prospects don’t know they have.  Provide them with your insights to improve their business. Are they trying to treat their root cause problem, or just the symptoms?

“94% of B2B decision makers are now seeking out sales teams that exhibit specific insights into their company’s problems.

— Forbes

4. Partner with your Marketing team. Customers want proof! Work with your Marketing team to help them create more case studies and solid testimonials that are relevant to your prospects.  Ask your current customers to participate in case studies or provide testimonials that can be quoted on your website. If applicable, ask for a recorded video interview or online review.  Re-post your Marketing team’s posts.

5. Simplify the buying process for your product. One of the most helpful things you can do, is to make buying your product or services easier.  If you understand the roadblocks your prospect may encounter in their buyer journey you can better prepare them as an advisor. For example, if your experience with similar customers is that having their procurement team engaged early to understand the required terms for a MSA (Master Services Agreement) helps to avoid delays at the end, you might recommend they give you these requirements so you can identify and address any issues as soon as possible.

It has always been vital to build trust with your buyer.   In today’s information-heavy environment, your sales team needs to come to the table as a valued partner and consultant.  It is more important than ever to arm your sales teams with the tools they need to demonstrate value to prospects who have already spent a lot of time researching you and your competition.

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PETER MEYERS

Peter is an executive advisor, consultant, and facilitator who happily lives and breathes sales strategy and customer experience. With a razor-sharp focus on making sales teams more effective, he combines his creativity, collaborative style, and relentless drive for results. Before Portage, he held VP roles in sales, marketing, and product innovation at LoyaltyOne, Epsilon, The Toronto Region Board of Trade, and Engage People. When he’s not exploring new sales strategies, he’s taking in the great outdoors.

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