Understanding the B2B Customer’s Buying Habits
A look at the purchasing behaviors of B2B buyers and how to track them
According to the 2013 State of B2B Procurement Study by Acquity Group, 71 percent of B2B buyers would increase the amount of money that they spend online if it was easier to look at and purchase items on a supplier’s website. Buyers for B2B companies are looking for eCommerce sites that make it simple to purchase items for their business. After all, B2B buyers also happen to be consumers. Most buyers are starting to expect the same ease of use that B2C eCommerce websites provide when shopping for items. The 2012 State of B2B eCommerce report found that 90 percent of procurement specialists think that B2B online shopping should be just as easy as it is for consumers. When trying to understand B2B buyers’ behaviors, it is vital to remember that several of the behaviors will be in line with those of consumers.
Facts, Not Feelings
While most consumers are highly influenced by their feelings when purchasing a product, online or otherwise, business buyers are mainly influenced by facts. The buyers need to make sure that the product they are about the purchase will satisfy the business’ needs at the right price. It is the buyer’s job to pick the right company to buy from based on the information that they have available. B2B buyers look for information on your website, blogs, newsletters, and even social media. According to DemandGen’s 2014 B2B Buyer Behavior Survey, 72 percent of buyers used a form of social media to research before they made a B2B purchase. Whether the information is on your website or LinkedIn profile, it’s imperative for you to ensure that the information they need is easily accessible.
Mobile is a Must
More and more B2B buyers are using their smart phones and other mobile devices to research and make purchases for their businesses. According the study by Acquity Group, 63 percent of Generation X buyers use their mobile devices to research or make purchases. The study also found that 28 percent of buyers would be more likely to make a purchase of over $5,000 using a mobile device if suppliers offered mobile friendly websites. Just like B2C eCommerce sites, buyers expect B2B companies to make their sites easy to view, not matter what device they are using to view your eCommerce site.
The Right Timing
After a conversion has been made, buyers expect to be contacted, fast. According to a study conducted by Software Advice, for every second that you wait to contact a buyer, the chances of qualifying them drop. That same report also found that Tuesdays through Thursdays are the best days to contact potential buyers, with Wednesday having the highest conversion rate. Many B2B buyers do most of their research during the first half of the day, according to the Software Advice study, which means your sales team needs to be available and sending out quality information in the morning. While the study focused on the traffic that Software Advice was getting, it is important to note that these trends can be tracked using your own web analytics software.
Analytics: Helping You Understand Your Customer
The key for you to have a successful B2B business is to be able to understand what your customers are looking, which is why it’s important for you to have robust analytics software. The software allows you to see what your customers are searching for, how long they are searching, and how many customers are staying or leaving your site. Analytics software is the means to helping you understand your customers’ buying behaviors.
Clarity Can Help
Clarity has worked with hundreds of B2B companies for almost a decade. Our veteran team has helped install and customize analytic software to help businesses understand their customers, improve their eCommerce site, and generate more sales. If you want help making your B2B business another success story, call or click to contact us today!