How B2B customers do business now

Keeping up with the evolving mindset and practices of current and potential clients is often a challenge for freelancers operating in the “new economy.” Signing a good client is not easy, with the tendency not to spend money being fashionable. Solo entrepreneurs can only thrive by staying one step ahead of the customer, positioned to neutralize the temptation to keep an internal project or let it languish and die. Individual entrepreneurs need strategies that generate billable hours. These are the trends that B2B buyers are following right now.

they investigate

A recent survey of employees who make B2B purchases for their organizations conducted by global consultancy Accenture found that 94% of buyers—their current and potential customers—research potential solutions to business needs ahead of time, to learn about options and save time. and money.

By the time B2B providers (you!) are contacted, the initial work has been done by the expected customer. He/she already has an idea of ​​what you and your competitors could offer and a ballpark figure for the cost.

Entrepreneur and marketing expert Danny Wong, co-founder of online menswear company Blank Label, recommends that Solopreneurs recognize the elephant in the room and simply ask their prospects about any research they’ve done and what it could verify or clarify. . .

they are skeptical

Unfortunately, some unsavory sales “pros” and Solopreneurs have been known to misrepresent what they are selling. As a result, many B2B buyers prefer to buy online and bypass you and me. The practice was recently confirmed by Forrester Research, in a survey that revealed that almost 60% of B2B buyers preferred to buy independently, without the help of a seller.

Wong points out that demonstrating expertise and appreciation for a prospect’s goals and circumstances builds credibility and helps build trust, an essential process when competing for assignments or sales. Buyers won’t do business if they don’t trust you. Why should they?

No matter how desperate you are for billable hours, don’t rush the process. Take the time to understand what the customer needs and how, or if, your products or services can be useful. Avoid being perceived as a pushy salesperson, and instead present yourself as a trusted advisor who wants the prospect to appear smart to superiors and other colleagues.

they are not in a hurry

No, it is not your imagination that making a sale takes more time than before. Another study showed that the length of the average B2B sales cycle increased by 22% in the last five years. While the prospect is working on the worry accounts, Mr. Wong recommends that he do what he can to stay top of mind and try to prevent the project from falling through the cracks. Your main competitor is not one of your rivals, it is the inertia of the client.

Send information that can support (and expedite) decision making, but don’t overwhelm—manage. Find out about a timeline and deadline for the project and suggest what a reasonable start time might be.

They trust the advice of anonymous “peers”

So are you, which is why you look up hotels and restaurants on Trip Advisor and find a contractor on Angie’s List. Accenture reports that nearly 25% of B2B buyers make decisions based almost entirely on information gleaned from online “social” rating sites.

If your skill set is on Angie’s List or a neighborhood blog, try to establish a presence on those sites and build the credibility that will help you get hired. LinkedIn and Facebook could come in handy once you’ve been referred to a prospective client by a trusted source and your profile is vetted before you receive the call. Create a good profile on the social networking sites of your choice and make yourself appear knowledgeable and trustworthy.

They appreciate relevant content marketing

The longer buying cycle gives the advantage to those who produce long-form content: a newsletter or blog, case studies, white papers, or podcasts. An FAQ page added to your website detailing how to do business with you could also be helpful. Unbiased and informative information is the essence of content marketing. Produce your own and position yourself as an expert qualified to do the job.

Thank you for reading,

Kim