Understanding the B2B Buying Process and How to Win More Deals

Are your B2B accounts worried about the Go-to-Market (GTM) singularity? Forrester defines the trend as: “the convergence of AI, buyer autonomy and information overload.” Some industry experts believe it has weakened the traditional selling model. But not everyone agrees.  One way to stay current with the B2B buying process is to understand target audiences as outlined in B2B BuyerSCAN from AdMall.

What is the state of the B2B marketplace?

Dave Frankland, research director at Forrester, claims that the GTM (go-to-market) singularity that has dictated marketing in the B2B world isn’t as effective as it used to be. What will take its place? How can your accounts make an impression on these buyers? There’s no denying that buyers have more information these days as they start their purchase process. They don’t show up in the market until they are ready to buy, often with a vendor in mind.

One of the biggest challenges your accounts face is getting on the preferred vendor list during the B2B buying process. Great ads and online content can build credibility and awareness for your accounts. They can make an impression before B2B buyers have a critical need. The Drum reports that the current economics of the B2B marketplace “emphasize the need for brands to create memorable and meaningful content, enhancing their relevance and appeal in a crowded marketplace.”

How to make an impression on B2B buyers

In our B2B BuyerSCAN survey, around 50% of respondents were millennials. Pre-roll video ads can reach these buyers. In the last 30 days, over 41% have been influenced by pre-roll video ads.

Video ads

Video ads, in particular, give your accounts the opportunity to make an impression. 22% of millennial buyers say that they increased consideration of a vendor when they produced an informative or entertaining social media video. 

Other industry research shows that nearly all, 87%, B2B buyers consider “credible content from industry influencers” to be preferable to brand-only messaging.

Content creators

In fact, B2B content creators are becoming the new normal and carry more influence. Researchers point out that marketing messages featuring knowledgeable and experienced employees can significantly influence B2B prospects.

Buyers have begun to question the credibility of traditional influencers. However, the role of content creators is growing. They are “more focused on building communities and telling compelling stories through educational, engaging content.”

Mobile messaging

Mobile smartphone apps/text messages can influence millennial buyers as well. B2B BuyerSCAN reports that 50% of this audience have taken action in the last month after seeing these messages. Reaching the target audience in this way requires providing something of value so that they will share their contact information with you.

Email/newsletters

And don’t overlook the importance of emailed ads/newsletters when seeking to break into the B2B buying process. This form of communication allows marketers to share valuable content in detail to B2B buyers. In the past 30 days, 47% of millennial B2B buyers took action after engaging with this type of content.

After seeing an ad or product/service information, 47% went on to visit the marketer’s website. Remind your accounts to keep their website fresh and responsive.

The importance of expert insight

If your accounts’ target audience doesn’t see ads or already receives emails, other marketing tactics can make additional impressions.

B2B buyers still look for expert insight when it’s time to address a problem. One way to help your accounts generate new business is to publish content that establishes them as subject matter experts. When buyers search online for solutions to their problems, they’ll discover the content.

Keep in mind that 37% of millennial buyers conduct online research about available vendors and suppliers before they reach out. They may willingly give up their contact information to your account. Our research shows that 44% of millennial buyers will share their information with a vendor to get free access to primary research relevant to their business. 

Other key influencers in the B2B buying process are public product review sites. (31%) Help your B2B accounts with this process. They need reviews from satisfied customers. They can also send their product to user panels like Testbirds and receive a review. And incentivized reviews are allowed as long as the process and rewards fall within FTC guidelines.

Conclusion

The B2B buying process requires accounts to be visible and credible long before the target audience enter the purchase funnel. The right kind of content marketing, enhanced with great advertising can help your accounts be noticed by buyers.