4 B2B Buying and Selling Trends in 2011
Exciting things are happening in the way businesses are connecting with buyers online. The overwhelming theme is that business buyers are more in the driver’s seat than ever, gathering product information online well before they’re ready to talk to sales people. Marketers who cater to the way business buyers are shopping today, by delivering relevant content at the right time through the right channel, can capitalize on these opportunities for their businesses.
Trend #1: Buyers React to the “Year of Austerity” with Prudence
The word “austerity” (defined as "enforced or extreme economy”) was used so often by economists in 2010, and consequently drove so many people to search for its definition online, that Merriam Webster Dictionary named it the 2010 Word of the Year. Businesses are no stranger to the feeling that word engenders. The natural reaction to tough economic times is for businesses to tighten their spending belts and analyze purchase decisions more than ever. Now, sellers must work smarter to differentiate their products in the marketplace by value and price, and to prove to the buyer how their product will save money, boost productivity, and positively affect the bottom line.
Trend #2: Every Marketing Campaign Must Deliver Proven ROI
Vendors need to be more prudent buyers themselves when it comes to where and how their marketing dollars are spent. Marketing campaigns will have to be easily and quantifiably measurable – down to cost per sale, resources needed to operate, and return on investment. Marketing automation and outsourcing search and lead generation to companies that specialize in these areas will make sense from the viewpoint of economies of scale. If an outside firm can help you connect with customers more cheaply and more effectively than doing it yourself, then by all means outsource - and free your team to focus on what they do best.
Trend #3: Buyers Demand Streamlined, Relevant Content
As buyers become more empowered (and more cautious) when researching business products, they will demand higher quality and more relevant content. In the age of information overload, B2B marketers who can deliver streamlined product information will have the best odds of getting and keeping buyers’ attention.
B2B marketing trends often follow what is effective in the B2C sector, thus personalized content and shopping comparison sites will become more popular with business buyers. Just as consumers do, business buyers want to easily find objective, relevant content from sources they can trust, and which are well-regarded by their peers. Business buyers will turn to objective buying guides and side-by-side comparisons to find the best products for their needs. The best shopping comparison sites focus on streamlining and normalizing product information from different vendors in order to make the research process easier and more efficient for buyers. Vendors can leverage the extra marketing horsepower from these comparison sites by ensuring their product information is accurate and up to date on these sites.
Trend #4: Marketers Follow Buyers’ Lead: When, Where, and How They Shop
As mentioned above, vendors shouldn’t shy away from ensuring their products and services are well positioned, not just on their own sites, but also on the most trusted independent sites where business buyers shop. So, it’s not just a matter of making product information easier for buyers to absorb quickly, but also delivering it in the most appropriate channels.
In surveys of what business buyers are looking for today, many have expressed that when they’re ready to buy, they’ll find you. Sometimes this will occur at the vendor site, while other times, it will occur on shopping comparison sites. In addition, today’s business buyers are shopping, not just with their laptops and desktops, but also with smart phones and iPads, further proof of their need for quick comparisons and convenient ways to get product information.
Marketers who are the most in touch with when, where and how their buyers are shopping today – and how to make the process more economical and efficient for the buyer - have the best odds of leveraging today’s trends for great results.