Perceived risk is generally higher for B2B buyers
In business to business (B2B) marketing, a purchase of professional services may impact the company’s customer service, productivity, operations, legal issues, reputation, sales, and/or the bottom line. The perceived risk of a wrong decision is high. In B2C decision making the level of perceived risk is typically low, because most consumer purchases can be returned or exchanged.
Buying committees look to Google and service providers’ websites for information first and repeatedly, according to Enquiro.[1] After all, B2B purchasers are buying the supplier along with the product or service.
Enquiro surveyed 1,000 B2B buyers to learn what the top influencers are in the purchase decision. They found that “respondents across all phases indicated that the website of the vendor” was the top influence on buying decisions. The upshot: if you’re a B2B company, get it right when it comes to your online presence.
Prospects are looking to educate themselves, do their own comparisons, and create their own short lists. Charts comparing solutions, suggested decision criteria, ROI calculator tools, case studies, testimonials, certifications, awards, affiliations, and executive profiles all help diffuse fear of making a wrong decision.
[1] From the "B2B Survey 2007" whitepaper by Enquiro reporting the results of surveying 1,000 B2B buyers in 2007 to learn what the top influencers are in the purchase decision.