Understanding and Addressing the Buyer’s Mindset
In the world of B2B retail, the online customer journey is a complex and multifaceted process. Unlike B2C transactions, where impulse buying and emotional triggers often play significant roles, B2B buyers are typically more methodical, well-informed, and strategic in their purchasing decisions.
For B2B retailers in the UK, understanding the buyer’s mindset, and optimising the online customer journey in line with this mindset, can make the difference between winning and losing valuable business contracts.
The Evolving B2B Buyer
From relationships to self reliance
Traditionally, B2B buying was driven by personal relationships and sales calls. However, the digital transformation has radically changed how B2B buyers approach the purchasing process.
Today’s buyers are more self-reliant, using online resources to research products and services extensively before making a decision. According to a 2018 study by Forrester, 68% of B2B buyers prefer to conduct their own research online before engaging with a sales representative.
Furthermore, 2023 research from Gartner found that 75% of buyers say they prefer a rep-free sales experience.
This makes today’s B2b buyers more informed and demanding, with higher expectations of a seamless online experience. With this in mind, B2B businesses hoping to attract these buyers must prioritise providing valuable, easily accessible content throughout the online customer journey.
Coupled with self reliance comes another new expectation: the modern buyer now wants ability to self-serve. This has two core benefits:
- The merchant has to do less admin, which saves on time and resource
- It removes the need for the customer need to speak to the merchant everytime they need something doing, such as adding a sub-user – also saving on time and resource
The long and winding road
Another consideration is that the B2B buyer’s journey is typically longer and more involved than that of a B2C customer.
The process often involves multiple stakeholders, each with their own set of requirements and criteria, further complicating the decision-making process.
As a result, B2B retailers must also tailor their online presence to address the needs of various decision-makers, from procurement officers to end-users.
Mapping the B2B Online Customer Journey
To effectively engage B2B buyers, it is essential to understand the key stages of their online journey and how they interact with your brand at each step.
Typically, the B2B online customer journey can be broken down into five key stages:
- Awareness
- Consideration
- Decision
- Purchase
- Post-Purchase
1. Awareness Stage
At this initial stage, potential buyers identify a problem or need within their organisation. They start searching for solutions or products online, using search engines, industry blogs, and social media to gather information.
For B2B retailers, this is the moment to capture attention with thought leadership content, such as blog posts, white papers, and informative videos. SEO optimisation is crucial here to ensure your content appears in relevant searches.
2. Consideration Stage
As buyers gather information, they begin to compare different solutions and vendors. They may download whitepapers, attend webinars, or read case studies to understand how your offerings meet their needs.
During this stage, it’s essential to provide detailed and persuasive content that addresses the buyer’s specific challenges. Interactive tools, like calculators, product configurators or comparison tools can help demonstrate the value of your solutions.
3. Decision Stage
By this point, the buyer has narrowed down their options and is evaluating the final few candidates. They are likely to scrutinise your product specifications, pricing, and terms.
Transparent pricing, detailed product pages, and clear calls-to-action (CTAs) are critical at this stage. Offering personalised demos or free trials can tip the scales in your favour.
4. Purchase Stage
The buyer is ready to make a purchase, but this stage is not as straightforward as it may seem. In B2B, the purchase often involves complex approval processes, negotiations, and contractual agreements.
Simplify this process with an efficient, user-friendly Trade Portal or ecommerce platform that supports bulk orders, flexible payment options, and integration with procurement systems. A platform like Adobe Commerce is proven to enhance the buyer’s experience and increase conversion rates.
5. Post-Purchase Stage
The journey doesn’t end with the purchase. Post-purchase, B2B buyers seek ongoing support and value from their investment.
Providing excellent customer service, offering training resources, and facilitating easy access to product support are all vital.
Additionally, gathering feedback through surveys and reviews can help you refine your offerings and build long-term relationships.
Understanding the Buyer’s Mindset
Understanding the mindset of a B2B buyer is key to optimising each stage of the online journey. Here are some critical insights into the B2B buyer’s mindset that can inform your approach:
1. Rational Decision-Making
Unlike B2C buyers, who may be influenced by emotional triggers, B2B buyers are primarily driven by logic and data. They are looking for solutions that provide clear, measurable benefits to their organisation.
Therefore, your content should emphasise the practical advantages of your products and customer service, backed by data, testimonials, and case studies.
2. Multiple Stakeholders
B2B purchases often involve a team of decision-makers, each with different priorities. For example, while a procurement officer might focus on cost, a technical lead may be more concerned with product compatibility and features.
Your online presence should cater to these diverse needs, offering tailored content and messaging for different stakeholders.
3. Long-Term Value
B2B buyers are typically looking for long-term partnerships rather than one-off transactions. They value reliability, scalability, and post-purchase support. Highlighting your commitment to customer success and offering resources that support ongoing product use can help reinforce this long-term value proposition.
4. Complex Buying Process
The B2B buying process is often more complex than B2C, involving detailed product evaluations, negotiations, and formal procurement procedures.
Simplifying this process through transparent pricing, easy access to detailed product information, and streamlined checkout processes can significantly enhance the buyer’s experience.
5. Risk Aversion
B2B buyers are often more risk-averse than B2C customers, given the larger scale and potential impact of their purchases.
Providing guarantees, robust customer support, simple returns and clear documentation can help mitigate perceived risks and build trust.
Next steps
For B2B retailers in the UK, understanding the online customer journey and the buyer’s mindset is critical to success.
By mapping out the key stages of the journey and tailoring your online presence to meet the needs of B2B buyers, you can create a more engaging, efficient, and ultimately successful customer experience.
Remember, the goal is not just to close a sale, but to build a long-term relationship that adds value to your customer’s business.
In the competitive B2B landscape, this deep understanding of your customer’s journey and mindset can set you apart from the competition and drive sustained growth.
For more advice on your B2B ecommerce platform, or for help building or enhancing your customer trade portal, get in touch with our team.