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Have you seen How To SELL Anything?

This incredible sales handbook distils an expert's lifetime of sales and marketing experience and hands it to you on a platter, in a simple, easy-to-follow format. With existing customers being the most valuable source of income for any business, this book will teach you how to increase your return business and make more profit from your most loyal customers - and even how to reduce the costs of dealing with your least profitable customers.

Get it on Amazon (Kindle/Print)
 

B2B client loyalty is low but expertise can compensate for it

The service buyer journey map has changed for good

Over the past two years alone, relevancy of services as a key B2B selection factor rose by 33%, while relevant expertise also made a growing impact on client satisfaction, loyalty, and referrals - all of which either plunged to historic lows or stagnated over the same period - according to Hinge Research Institute's 'Inside the Buyer's Brain' study.

Add to this the now urgent move towards digital, and there is little doubt that B2B service providers will have to redraw their buyer journey maps.

The study monitored changes in professional services buyer and seller behaviors at a time of unprecedented marketplace shifts and uncertainty.

"Well before 2020, digital transformation and staying relevant in a fast-changing environment have both been on professional service firms' to-do lists," said Lee Frederiksen Ph.D., Managing Partner at Hinge. "This year's health and economic crises have accelerated these trends and eliminated the option to wait it out. If sellers don't keep up with buyers' evolving needs, buyers will simply search online for alternatives. The rise of relevant expertise combined with the drop in client loyalty tells us that this is already happening."

The study throws new light on the forces that are reshaping the buyer journey map. First, digital marketing capability will determine a firm's likelihood of survival and success in a world where few if any interactions are face to face. This will require building up a responsive digital content marketing program. Second, specialized expertise is key to remaining relevant and competitive. Third, managing the firm's talent bench is now key to the success of business development.

The report also uncovers key opportunities that sellers often miss. Sellers underestimate the need for services that address strategic planning, the demand for which climbed 44% over two years. Similar patterns are found with technology and data issues and regulatory compliance. Moreover, they misperceive the importance of key selection criteria including competitive pricing and better terms, talent caliber, and cultural fit. These misses represent areas of improvement that, if addressed, will strengthen client relations and help win new business in today's foreboding environment.

Respondents to the study included more than 1,900 buyers of B2B professional services and 1,600 of their sellers. This unusual examination of both sides of the B2B sales relationship provides insights into how expectations have changed, where they are met and missed, and how to close the gaps. Respondents were segmented by industry, namely accounting and financial services, consulting, architecture/engineering/ construction, technology and software, and government contracting.

Access to the study has been made available online at: https://info.hingemarketing.com/IBBPR


Sources: Hinge Research Institute /
The Marketing Factbook.
Copyright © 2020 - 2025 The Marketing Factbook.

    Categorised as:

  • Customer Experience
  • Customer Loyalty
  • Knowing The Customer
  • Marketing Know-How
  • Marketing Technology

Have you seen How To SELL Anything?

This incredible sales handbook distils an expert's lifetime of sales and marketing experience and hands it to you on a platter, in a simple, easy-to-follow format.

With existing customers being the most valuable source of income for any business, this book will teach you how to increase your return business and make more profit from your most loyal customers - and even how to reduce the costs of dealing with your least profitable customers.

You'll learn to sell yourself, sell your products, and sell your brand on the internet, writing high-conversion landing pages, social media posts, and more. You'll start attracting customers you didn’t even know existed, and learn the top trade secrets for customer retention.

You'll become a lean, mean selling machine. See how the experts do it and learn to adapt what they've done for your own profit. You'll learn to write strong, powerful, effective sales copy, whether it's for a sales script, sales letter, flyer, insert, advert or just about anything else.

You'll learn how to sell whether you're selling by telephone, by mail, or even meeting prospects face-to-face. You'll find out how to size them up, present yourself, nail down their true needs, close the sale, and learn to tackle the tricky ones.

You'll discover the biggest secrets of successful direct mail sellers, sales letter writers, and how to segment and choose the right prospects for each campaign.

Get it on Amazon (Kindle/Print)
 
Copyright © 2001-2025 Peter J. Clark