Buyer Behavior -Reshaping B2B Marketing Practices

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Buyer Behavior Reshaping B2B Marketing
Practices
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Buyer Behavior In Brief
Consumer behaviour is the study of when, why,
how, and where people do or do not buy product.
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Testing Strategies A
Comprehensive Model
Economic
Product
MARKETING
Technological
Price

Political
OTHER STIMULI
Place
Cultural
Promotion
THE BUYING ORGN.
Interpersonal
Organizational
and Individual
THE BUYING CENTRE
Influences
Influences
BUYING DECISION PROCESS
Delivery Terms
Product or Service
and Times
Choice
BUYERS RESPONSE
Service Terms
Supplier Choice
Payment
Order Quantities
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Stages in Buying Process
Step
Ahead
NEED REGOGNITION PROBLEM AWARENESS
INFORMATION SEARCH
EVALUATION OF ALTERNATIVES
PURCHASE
POST PURCHASE EVALUATION
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Organizational Buying Situations
Untethered Dynamics
The Buyer routinely re-orders the same product or
service with out any modification .
STRAIGHT REBUY
The Buyer wants to modify product specifications
, price , service or supplier .
MODIFY REBUY
The Buyer purchase product or service for the
first time .
NEED TASK
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Buyer Behavior
Who Controls Engagement ?
Less than 10 of Recent Buyers were contacted
cold by the solution provider .
More than 80 said they contacted the solution
provider directly .
I called them directly
They contacted me cold
They contacted me after I asked for further
information from their website
HOW WAS YOUR FIRST POINT OF CONTACT MADE
WITH YOUR SALES REP ?
I chatted with them on their website via live chat
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Discovering Alternatives
New paths to Purchase
How would you describe the budgeting/approval
process for this recent solution purchase ?
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Budget for project was approved and allocated at
the beginning
Budget was determined post multiple bids
Budget was allocated as part of larger line item
- once need was established
Budget was taken from another line item after
need was established
Determined potential impact through other
adopters and built a business
Less than 1/4 indicated budget was approved or
allocated during the beginning of the year .
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Buying Process
Whats New ?
33 of respondents indicated they determined
the potential impact through other adopters and
built a business case for immediate adoption,
ensuring approval although the project was
unbudgeted.
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Time to Change
The New Decision Making Process
48 utilized a wider variety of sources
48 took more time to research
36 did more detailed analysis of costs/ROI
30 had more internal team members provide input
27 relied more on live customer feedback and
recommendations
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The
New Age Connecticut

Influencers
95 confirm on CONTENT
THE INFLUENCERS
Helping Buyers Navigate Through All Stages Of
Buying
66 implies to consistent and relevant information
80 indicates timeliness of response
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The After Effects
To dos Post Purchase
59 likes to share information about the entire
buying experience.
FORUMS USED

• Participated in discussion forums

• One on One discussions

• Tweeted about it

• Blog postings

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Preview
The Elementary Version
Drive to Website
CAPTURE
NURTURE, SCORE
Convert via Form (Capture detailed information)
CONNECT
Nurture (Organization based practices)
DEALS

Alert Rep of Buying Behavior (The final result)
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Breaking Process
Capturing Insights
B2B Marketers relish the Extended Reach
Reach Response Revenue Relationship
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Changing Times
Changing Buyer
Behavior
Buyers Embrace Collaboration
Social and Digital technologies has allowed the
influence and interaction not only be grown and
widened. In simple terms, the era of
collaborative buyer networks has arrived.
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Buyers Want Co-Creation
Collaborative networks are in line to co create
products, services and for solving problems
indirectly exerting pressure on B2B organizations
to get in line with flexible offerings giving an
upper hand to the buyers.
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Buyers Want Less Content
Yes content is important but make it concrete and
relevant. Unnecessary content can have opposite
effect on customers. So follow the mantra of less
content but smart content .
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Buyers Want 1-to-1
Conducting several reviews of lead generation and
nurturing campaigns, it is seen that marketing
may be inadvertently dripping back to the mode of
1 to many as opposed to coveted 1 to 1.
This really is not the essence and marketers
should optimize automation to the best possible
way .
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Buyers Want More Than Insight
Dont over use the idea of insight, every item
cannot be classified as insight. Be more
judicious that can actually counter balance the
act of contributing insight .
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B2B Marketing Upgrades
More Agile, More Adaptive
With rapidly changing buyer Behavior B2B
marketing practices and tactics has to be
upgraded only then a real connection can be
established with buyers fostering networking and
sales. Agile quick
stop watch Q.
Resources
customerthink.com
tutor2u.net
slideshare.net
kenyaentrepreneur.hubpages.com
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Thanks
Mailing List Provider - Thomson Data is one of
the fastest growing list providers with an
extensive database, which serves all the major
industries across the globe .
www.thomsondata.com
sales_at_thomsondata.com
800-385-8221