Many B2B sellers are bracing themselves for a challenging period where inflation mars their ability to sell – including many prominent B2B software sellers.
For instance, as CX Today reported, HubSpot CEO Yamini Rangan admitted to facing fresh challenges from the “lengthening of deal cycles and more decision-makers getting involved.”
In addition, Marc Benioff, Co-CEO at Salesforce, said:
“Nearly everyone I’ve talked to is taking a more measured approach to their business.”
Against this more consultative, measured backdrop, customers are putting more thought into their purchases, and sellers cannot take loyalty for granted.
With this in mind, consider these five tactics to gain trust and inspire stronger customer relationships.
1. Organize a Referral Program for Existing Advocates
Gartner research has shown that most of the B2B buyer's journey takes place before the customer contacts the vendor/supplier and that only 17 percent of the time it takes to make a purchase is spent meeting with vendors.
Also, when buyers consider more than one supplier, they may only spend five or six percent of their decision-making time with each sales rep.
As such, adding positive customer testimonials to the site and setting up a referral program can enhance this digital journey and build confidence in the business’s ability to execute.
Companies can give points or other rewards to those who write reviews and testimonials to get them to spread the word and send a small thank-you gift to customers afterward.
2. Build a Community of B2B Buyers
A brand community is a group of loyal customers whose investment in the brand goes beyond what they are sold.
As a result, they are often happy to share their perspectives with prospects and give favorable feedback on products/services.
Vendors can learn from leading B2B companies like Salesforce or Microsoft, all of whom conduct customer community events.
It is also often an excellent idea to build and leverage digital communities to better understand unique selling points (USPs) and how the brand sticks out. Knowing this may help to enhance aspects of the buying experience.
3. Create a Tiered Incentives System
Tiered systems encourage B2B customers to buy more, starting with basic incentives to encourage consumers to become members. Then, as their engagement rates improve, they unlock more benefits.
Simply put, the more points they earn, the more advantages, discounts, and other perks they unlock. On top of that, they may level up from one tier to the next by collecting more points and remaining loyal.
The possibilities for tiered incentive program methods are boundless, enabling B2B businesses to tailor their offers to their individual sales objectives.