How B2B Marketers Misunderstand Their Customers
Nick Lowndes/Ikon Images Businesses are striving to adapt ever faster to keep pace with rapid change, and yet B2B marketing practices have remained surprisingly static. Sure, the tactics have shifted to digital executions, and the use of data has made targeting B2B buyers more precise, but marketers remain rooted in fundamentally flawed assumptions about the […]
B2B marketers often incorrectly assume that corporate buying decisions are driven primarily by rational product features and competitive pricing. However, research conducted by Mimi Turner, Jann Schwarz, and the University of Michigan's Ross School of Business indicates that B2B purchasing decisions are heavily influenced by emotions and social factors.
These hidden buyers, including executives like CFOs and procurement staff, may not be visible in typical lead sheets or pipeline trackers but significantly impact the final decision, accounting for up to 50% of the driving force. Additionally, the defensibility of the chosen vendor plays a crucial role, with established companies like IBM being less likely to face blame for poor-performing products.
Brand reputation and cultural alignment with the purchasing organization are also essential considerations, making brand marketing critical for B2B sales.
Written by urgent.news from MIT Sloan's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
