69% of B2Bs share their experience on social media platforms when they have a bad customer service experience: GoodFirms B2B survey
“Overly demanding customers, increased operating costs and price pressure are the top three challenges facing B2B sellers.”
/EIN News/ — Washington, Sept. 07, 2022 (GLOBE NEWSWIRE) — GoodFirms, a world-renowned research, rating and assessment platform, recently released its new research report – “B2B services: intelligence, competition and the future“, which analyzes the current state of B2B services, including buyer/seller trends, industry competition, current challenges and future prospects.
The study highlights how B2B companies can achieve success by using smart tools and data-driven insights, gain cutting-edge solutions to beat the competition, mitigate challenges and prepare for future opportunities. The research findings will help B2B players better understand the current B2B business environment, buyer preferences, and smart technologies that are powering B2B businesses.
The GoodFirms survey attempted to explore the factors that drive B2B buyers to connect with specific B2B services. Interestingly, 30.2% of buyers consider company reputation (online and offline), 20.9% check online reviews, 18.6% compare price and service with their peers, 14% are looking for authentic customer testimonials, 7% of them check the references, information available on websites and 2.3% of buyers check the presence and reviews on social networks.
Pricing, features or functionality, seller customer service availability, reviews, ease of use, and deployment are the top factors that matter the most to B2B buyers.
Additionally, the research identifies that overly demanding customers, increased operating costs, and pricing pressure from heavy competition are the top three challenges faced by B2B sellers. Consumer demand for sustainable products, collecting data to deliver hyper-personalized buying journeys, analyzing big data (unstructured, siled, fragmented) and connecting with B2B prospects in the middle of their schedules loaded are major challenges in the B2B services landscape.
Price disagreements, product/service disagreements and lack of information are the main reasons that delay the B2B buying process.
Research further reveals that B2B intelligence tools such as data analytics tools, AI-powered intelligence applications, AI-enabled customer relationship management (CRM), software marketing automation tools, web scraping tools, intelligence databases, and market intelligence software are must-haves for B2B.
The GoodFirms survey also claims that the future will see more B2Bs using competitive and innovative technologies to guide their marketing strategies, align marketing and sales strategies, benchmark SEO, find quality leads, analyze the competition and differentiate their contents. Organizations will focus on hyper-personalization and exceptional customer experiences.
“The shift from B2B to B4B is the emerging trend for more sustainable businesses with excellent customer satisfaction. Collaborations, omnichannel experiences, personalized interactions and feedback are essential elements of the B4B model,” says Good Firms.
GoodFirms concludes that B2B companies need to embrace the latest trends and technologies to stay competitive. B2Bs should evaluate things like current technology resources, staff skills, data quality, and more before identifying the tools best suited to their needs. B2Bs can combine technology capabilities and data to identify, explore, and utilize hidden opportunities that will help them comfortably beat the competition.
-The seller’s ability to provide relevant information is essential for B2B buyers to decide on a seller.
-Product features (26.2%), services and offers (23.8%), and pricing structure (21.4%) are the most searched information on the service provider’s website.
-87.8% B2Bs rate social media content as the best B2B marketing strategy:
-52.4% of B2B buyers prefer online channels over offline channels to buy from B2B sellers.
-Email is the preferred channel to reach B2B sellers
-Face-to-face meeting is the preferred channel to interact and close deals with B2B sellers
-54.8% of B2B buyers say finding genuine reviews on B2B services is a difficult task as most reviews are inauthentic and unverified
-59.5% of B2Bs say personalized experiences are important.
-31% of B2B buyers say most B2Bs don’t deliver on their promises.
-B2B intelligence tools are indispensable for B2B.
-Business-to-business (B2B) will gradually shift to business-to-business (B4B).
-B2B intelligence solutions are poised for another sales spike as more companies plan to implement them.
About the search:
GoodFirms survey-“B2B services: intelligence, competition and the futurewas conducted between August 7, 2022 and August 18, 2022, surveyed B2B industry participants (B2B buyers, B2B sellers, and experts) across the globe to identify and analyze the current state of B2B services. total, 410 B2B participants completed the survey .
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GoodFirms is a Washington, DC-based research firm that aligns its efforts to identify the most important and effective companies that deliver results to their clients. GoodFirms research is a confluence of new consumer referral processes and conventional industry-wide reviews and rankings that help service seekers go further and multiply their value and credibility across the board. industry scale.
Sophia Jayden [email protected]