B2B buying is changing, so stop selling like it’s still the ’90s. Here are three strategies for giving customers what they want.
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The up-and-coming generation of younger B2B procurement professionals is once again bucking prior generations’ preferences, and companies that don’t keep up aren’t likely to win contracts.
According to reports generated by Heinz Marketing and SnapApp, 41 percent of corporate buyers or purchase influencers comes from the under-40 crowd. And, also from the study: About 80 percent of procurement committees are comprised of people at mid-career.
So, given this demographic’s emphasis on personalization and on a shift away from the traditional brick-and-mortar store, the old procurement playbook is increasingly irrelevant.
Ultimately, then, entrepreneurs should be ready to toss out stale selling tactics and reimagine their approaches to the customer journey. Otherwise, they may find themselves stuck on the wrong side of the purchasing decision.
What’s changed among B2B buyers?
This evolution in business practices shouldn’t come as a shock. Everyone has made lifestyle changes in today’s era of fast information, and B2B buyers — especially millennials — are no different. As early adopters of apps and brands that make their lives easier, this generation is more apt to do research before turning to a sales expert. In fact, the Heinz Marketing and SnapApp study indicated that only 9 percent of millennial B2B buyers surveyed said they connect with vendors before doing their own intelligence gathering.
Given the challenge that this finding represents, entrepreneurs and sales teams need to shift their perspective and be willing to pivot, offering the right channel to the right B2B buyer at the right time.
No longer is understanding the products and services out there enough. Entrepreneurs and sellers must also evaluate their buyers’ needs more comprehensively. While baby boomers may respond to a more traditional sales funnel — 74 percent prefer brick-and-mortar stores, for example — millennials seek the convenience of apps and mobile and other digital devices (which 90 percent are likely to buy, according to eMarketer research.
Accordingly, as an entrepreneur or seller who wants to incorporate updated sales and marketing techniques to match today’s consumer demands, think about following these three strategies:
1. Create tailored approaches for…
