It has often been assumed that B2B prospects make their purchasing decisions based on rational business logic; but a new study suggests that this may not be the case and that, when it comes to letting either the head or the heart rule, the heart often wins out.
According to a study conducted by Google and The Corporate Executive Board (CEB), entitled 'From Promotion to Emotion: Connecting B2B Customers to Brands,' B2B buyers respond to emotional connections and whether or not a brand has 'personal value' more than anything.
The report questioned 3,000 B2B buyers and thought leaders from across multiple B2B industries, and their responses raise some interesting – and pretty surprising – points about how B2B selling should be done today.
So, for any B2B looking to shake up their communications strategy and connect with clients in a more meaningful way, keep in mind the following takeaways from the study:
Researchers found that reaching out to B2B buyers using an emotional approach achieves, on average, double the impact of promoting practical business values. This involves going beyond simply meeting their business needs and discovering their personal needs too – which in turn will help you to communicate with them more effectively.
Relationships Drive Sales
When it comes to closing a sale, the most important factor is whether or not a prospect feels a connection to your brand. The findings reveal that the majority of customers (79%) with a strong connection have greater consideration rates; while 64% have higher rates of purchase, and 60% are happier to pay a premium.
Standing Out From the Crowd
In a highly competitive market, and with many B2Bs doing much the same thing, emotion can be a powerful tool to help you stand out from the rest. Interestingly, the report found that 86% of B2B buyers find there is 'no real difference between suppliers' – so be sure to give them a reason to remember you.
Is your B2B harnessing the power of emotion? And what other things do you think B2Bs can do to stand out to prospects?