7 Under the Radar Factors that Influence the Buyer Decisions in B2B
The B2B purchase decision process is complex, and it almost always involves multiple decision makers. To effectively move potential buyers through the decision process and convert them into sales, B2B companies need to tap into the influencing factors behind buyer decisions. It’s not as easy as analyzing your sales reports or targeting prospects in your industry. The factors influencing buyer decisions are nuanced, and they require intentional and finessed approaches from sales teams.
94% of your potential buyers are doing their own research before they reach out to any potential solution providers. This is a statistic you don’t want to ignore.
Download our eBook where we share seven of the most important factors that influence buyer purchase decisions:
- Early Engagement – Sellers who shape a buyer’s vision of their potential solution win 75% of subsequent purchases made.
- Status Quo Bias – B2B companies need to make specific efforts to demonstrate to buyers why their existing solution is no longer the best choice.
- Loss Aversion – Asking buyers to confront all the ways their business might be threatened is a tough task. Make it easier for them with the right balance of interpersonal skills, honesty, and sensitivity.
- Decision Paralysis – It can be an overwhelming prospect for a buyer to assess all their options. Help them feel confident in the decision they are making for their organization.
- Seller Expertise – Give your sales team the dedicated training and tools they need to demonstrate their knowledge when selling to your buyers.
- Alternative Options – Ensure your sales team is ready to present your organization’s competitive edge.
- Social Proof – Leverage social proof opportunities during your sales process to more than double conversion rates.
The ability to truly influence B2B buyer decisions depends on a solid understanding of your sales process, effective execution of your sales strategies, and a handle on the influencing factors behind B2B purchase decisions.
B2B buyers want sellers to be the subject matter experts and sellers should demonstrate their expertise at every phase of the sales process.