While this seems obvious to everyone when it comes to consumers, and therefore the BtoC sector, we more rarely mention the fact that this trend also affects buyers within companies, directly impacting the activity of companies operating in BtoB. Yet, this is what leads a Forrester study1 to announce the upcoming death of the sales function in BtoB! (See our article on this subject The selling salesperson is dead. Long live the advising salesperson!)
Understanding the changes occurring among buyers is a matter of survival for these companies: Ignoring these changes or misinterpreting their meaning means taking the risk of (continuing to) offer commercial approaches that are ill-suited to the current reality and your clients' expectations... An unnecessary and dangerous risk!
Do you have the right sales approach, or are you behind the curve when it comes to your buyers' practices for boosting your sales performance? It's up to you to judge, after reading this article.
1- What has changed, and why
But what are these evolutions in the purchasing behavior of professionals and on what springs do they rest?
We can distinguish 4 main evolutions:
1.1. A change in audience and buyer generation:
According to studies such as the "Demand Gen Report" or the "B2B Path To Purchase Study 2014" by Google and Millward Brown Digital, Generation Y, born with the Internet, now occupies a leading position in the BtoB purchasing potential.
46% of professionals today are from Generation Y, which represents an increase of 70% in three years!
Young, dynamic, more daring, and above all, completely immersed in the digital world, the increasing presence of "digital natives" partly explains the importance of social networks and new technologies in the purchasing process.
And make no mistake: despite their young age, these professionals now have real decision-making power. According to the same study, 81% of them are in charge of purchasing decisions related to their area of responsibility.
The profile of BtoB prospects has therefore changed considerably.
1.2. The supremacy of the Internet in the information process:
How does this evolution of your audience change things for you? Firstly, it changes how they access information about your offers.
According to a survey published by Fevad and QualiQuanti (marketing research institute), the majority of professionals now use the Internet to prepare their purchases. 55% of them affirm a growing preference for the web: search engines (by a large majority), suppliers' websites and social networks are now among the primary sources of information for your buyers about your products and services.
Another important aspect of their behavior: they also eagerly seek expert and/or peer reviews before making any purchase. The « official » information disseminated by suppliers is therefore analyzed and weighed against customer testimonials and feedback.
B2B buyers, who previously favored face-to-face and telephone channels, now prefer the responsiveness and plurality of possibilities offered by the web.
They no longer need the supplier's help to initiate, or even finalize, their purchasing process, as the Forrester study shows: 93% of B2B customers prefer to buy online 'when they have decided what to buy'.
Thanks to the internet, each customer has autonomous access, from anywhere and at any time, to advice and opinions on how to solve the problems they encounter, as well as information on the products and services that interest them.
The downside for them (and for you): B2B buyers are now overwhelmed with content from various providers, partners, or analysts. Their search for relevant information, therefore, requires them to be very selective and quickly discard advertising content.
1.3. The growing importance of social networks
72% of B2B buyers gather information through social media before engaging in a purchasing process. Of these, only 22% then directly contact the supplier.2
Leaders and prospects show a clear preference for LinkedIn, a professional network, and blogs, which allow for a more informed opinion on a subject.
It's easy for a buyer to connect on discussion and support forums to gather best practices or standard specifications. These collaborative BtoB methods are booming, with advice and recommendations (from suppliers, among others) whose power is only increasing.
The expansion of the buyer's network has therefore truly changed its traditional decision-making model.
The social media giants have also oriented their advertising offers to target the BtoB sector. For example, Facebook is going all out to develop its own professional network "Facebook at work." Even if it is struggling to gain traction for the moment, it is already available on the Apple Store.
1.4. An increased perception of risk, a long and more complex decision-making process
Risk consideration is always a predominant factor in the purchasing decision. The tense economic context and uncertainty about the future are all factors that lead buyers to be very attentive to costs and the value provided.
They put pressure on service providers to lower the prices of their solutions and demonstrate the added value and return on investment to all decision-makers.
The perception of risk by buyers is increasing to such an extent that it results in increasingly long sales cycles and a multiplication of stakeholders who share responsibility for the decision and, consequently, the potential risks.
Buyers are therefore spending more time in the information phase. They take the time to compare services, call or meet with suppliers, and examine all possible solutions.
When customers enter their buying process, they expect salespeople to support their analysis and thinking in order to help them clarify their needs, determine the key factors for success, and challenge competing solutions to enable them to make the most relevant choice with regard to their issues and objectives.
2. How to Get on Board
Faced with these rapid and radical changes, suppliers must absolutely evolve their sales process!
Millennial buyers, the explosion in web usage, the rise of social networks, and the desire to control risks have permanently changed the game: B2B buyers are increasingly independent in their purchasing cycle and have developed new habits.
Of course, the diversity of products or services offered to professionals (from ink cartridges to airliners) does not allow for modeling a desirable evolution applicable to all.
However, we can differentiate between 2 main types of models:
2.1. Your company sells "everyday" consumer products.
In the case of 'commodity' products, such as ink cartridges, the added value is so low (which doesn't mean the product is of poor quality!) that online sales, without a sales representative, will become the norm. The key is primarily e-marketing, and it involves offering customers the benefits they associate with using the web channel:
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- Time saving: immediate and real-time information on products, their availability, access to order history, ease of placing an order, etc.
- Reliable product information: Easy-to-access, clear, and complete information to compare products, prices, delivery times, or the possibility of receiving test samples.
- Order tracking: real-time order tracking, with direct sending of useful information at each stage of processing and additional features, such as SMS alerts for example.
2.2. Your company sells high value-added products and services.
For products or services with high added value, such as airliners or enterprise software, it is no longer a single salesperson who makes the sale, but an entire team, whose size and areas of intervention are expanding (marketing, digital, sales, pre-sales studies, development, customer relations, etc.).
The challenges include detecting qualified leads, supporting clients in analyzing their issues, determining the most suitable solution with the prospect's or client's entire sphere of influence and decision-making, and being able to provide them with maximum value throughout this pre-sales phase.
To meet these challenges, we support our clients on:
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- The evolution of sales practices: sales management must be adapted to encourage salespeople to change their approach, in the prospecting phase, in conducting the various meetings, and in co-constructing the sales proposal with their clients.
- The implementation of monitoring of commercial coverage and intensity across the different customer segments, which leads to putting the number of appointments indicator into perspective.
- Recruiting salespeople based on new skills
- The evolution of management and steering tools (for example, CRM).
- Improving customer journeys and their consistency across different sales channels
- The development of effective cooperation between sales, marketing, customer relations, pricing, and other teams.
These are all facets of this transformation that can be complex to master.
The slow evolution of sales processes leads customers to eliminate certain market players from their choices who have not kept up with the times. Sales systems are not immune to the tsunami of "uberization"!
Only companies that rise to these challenges will remain at the forefront or conquer commercial effectiveness!
And you, how are you evolving your sales strategies to meet or anticipate these customer expectations and practices in terms of purchasing?
Discover a tool to test your sales effectiveness. You can find out the level of your sales dynamics for free with one click on the link below:
Sources:
1 Death of a (B2B) Salesman» from Forrester Research
2 Demand Gen Report
3 Key figures for 2014 distance selling E-commerce
