The B2B sale has always relied heavily on the relationship between buyer and seller. Today, though, many businesses are finding that those relationships aren’t delivering the same results they once did. The key to assessing the flaws in your process may start with understanding the impact that Millennials have on B2B buying processes.
Because they grew up with team sports and group projects, Millennials expect collaboration in the workplace. Through Millennials, businesses have learned that ROI increases when the departments that will implement and use a solution are involved in the buying process. Additionally, today’s average buying team includes an average of 5.4 people.
In addition to growing up with social media, Millennials are actively seeking out feedback from those with firsthand product knowledge. Sellers who aren’t using their LinkedIn profile to make themselves and their companies relevant or who don’t address negative social media postings during the selling process can find themselves on the losing end of a decision.
Millennials have grown up in a world where they can personalize everything from athletic shoes to college majors, and they expect the same flexibility in their B2B solutions. B2B buying teams are demanding not only modular offerings but also RFP responses that enable cross-functional teams to examine a potential vendor’s offer details, service options, and financing.
Are you ready?
Quote of the Week:
“The next generation has always been and will always be better than the previous one. If it is not, then the world would not be moving forward.” — Kapil Dev
Visa, a global payment powerhouse, has used the “It’s everywhere you want to be” tagline for years to help potential customers understand the sheer number of worldwide businesses that accept the card. With the integration of marketing automation platforms and social media sites, today’s marketers can quite literally find you “everywhere you are” —at least in the digital world.
The average person spends over an hour and forty minutes browsing social media each day. In between their trips to popular sites like Facebook and Instagram, these potential customers are busy researching products and services on their computers and smartphones. Should they leave the website before making a purchase, they are likely to see ads that are designed to get them back to complete the transaction every time they visit their social sites. This strategy, known as retargeting or remarketing. This helps businesses convert more website traffic into actual business.
Smart marketers using powerful marketing automation platforms can create real-time personalized retargeting campaigns that connect their other digital marketing to their paid advertising on the web and social media. In addition to reaching customers everywhere they are, marketers are gathering powerful data about how to increase click rates and refine their future strategies.
The big lesson for businesses of all sizes is this—prospects can get distracted for many reasons, even when your marketing is good. To be successful, you have to engage and interact with your customers wherever they are… and not just when they come looking for you!
Quote of the Week:
“By prevailing over all obstacles and distractions, one may unfailingly arrive at his chosen goal or destination.”
— Christopher Columbus