Who Really Makes the Purchase in B2B Buying? — Know the Decision Makers
Buying and selling a product or service is not as straight-forward as it seems. There are several emotional as well as psychological aspects that play a significant part in confirming the purchase, and that usually goes unnoticed. It’s vital that companies take stock of purchasing decisions that involve less perceived factors to deepen their understanding of buyer roles and expand engagement across the target audiences. To start with, learn more about the various steps involved before customers make the final decision, and find out how that can be applied to develop an exceptional sales methodology.
The Levels of Buying Decisions for Business Purchases
A recent study by the Australia Post observed that there are four major channels contributing to around 92% of an individual’s purchase decision. These include effective direct mail campaigns, television advertising, flyers or catalogues and attractive websites. In order to ensure that the buying decision process goes smoothly, accurate information is required for interested clients; that means there should be a clear process for connecting them with the relevant team. Decision making is significantly increased if you provide additional resources like guidance manuals or FAQ sections on the website to readily resolve their concerns. A proactive customer service team will further benefit from the consultative selling aspect of business decision making thereby having major influences on business buyers.
The initial stage of problem recognition occurs when a consumer recognizes that there is a disparity between their ideal state of affairs versus the current state, i.e. they have a requirement that must be fulfilled to experience fulfilment. It is at this point that a business can maximize engagement, once they have a clear understanding of their target demographic.
Some of the more popular strategies used by companies include penetration pricing for new products in the…