Nov 20, 2021

Why Buying Experiences matter.

Buying Experiences tip the scales when it comes to your prospects’ buying decisions.

AR Buying Experience

B2B sales has changed.

Living in a digitized society people have easy access to high-quality information anytime, anywhere. As a result, prospects often complete a large part of their buying journey on their own before they even seek contact with a salesperson.

For salespeople, this means that they only have few options left to directly influence the customers’ final purchase decision. According to a study by Gartner, meetings with vendors today account for only 17 % of the entire buying process. Thus, the buying experience customers receive during these sales interactions is crucial to their final purchase decision.

What does Buying Experience mean?

Buying experience can be described as the sum of all information, emotions, and interactions your prospects perceive during their buying journey. It covers the entire engagement with your products and services from the buyers’ perspective, from the moment of initial awareness to the final product selection.

Poor customer support could block the buying process whereas providing the right content to the right time could initiate a purchase. Therefore, it is essential to develop a deeper understanding of your prospects’ intentions and needs, because in the end, delivering a great buying experience is nothing more than listening and responding to these.

What makes for a compelling Buying Experience?

Since individual emotions are involved, every buying experience is unique. Further differences result from factors such as the vendors industry or distribution channel. Some buying experiences are simple enough to consist of just a few steps. Subscribing to a Software-as-a-Service solution on a website, for example, is relatively straightforward.  Larger and cost-intensive acquisitions, such as the purchase of complex ERP Software, tend to be much more involved, requiring multiple decision makers and additional steps.

The key factor relevant for every kind of successful buying experience is just about to be increasingly transferred from B2C to B2B. We are talking about “customization”. Tailor-made offers are the reaction of providers to increased competition caused by the unlimited access of buyers to information as mentioned above. Customer demands have adapted accordingly and are more and more reflected in the business world. Marketo already reported on this phenomenon in its ‘Creating Epic Customer Experiences’ report in 2019. Nearly half of the surveyed B2B buyers stated that they expect experiences that are tailored to the specific needs and interests of their employers.

Experience first!

According to Gartner, buying experiences meanwhile have the biggest impact on prospects’ final buying decisions. Even bigger than product and price! Companies that deliver great buying experiences benefit from more incoming leads, higher conversion rates and shorter sales cycles. The result is a doubling of the company’s growth rate compared to competitors with buying experiences of only average quality.

By now at the latest, it should be clear that delivering outstanding buying experiences should be at the top of your marketing and sales department’s list of priorities!

You want to address the issue right now?

Then start YourShowroom for free and take your customers’ buying decisions into your own hands!

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