Complexity comes with the territory in B2B sales.
Mostly this is because every B2B business is different. There is a huge amount of variety in how B2B businesses are structured, operate, and engage with customers. One size cannot fit all.
This complexity can make it difficult for B2B companies to adapt the way that they do business, particularly when it comes to digitization. At the same time, remaining static hurts these businesses and leaves them open to being left behind by the competition.
So how can B2B companies digitize and optimize their complex sales effectively? It all starts from a place of understanding.
Understanding Complex Sales in B2B
B2B sales are more complex than consumer retail for several reasons.
The market has moved from a wholly traditional sales model of in-person interactions, direct marketing, and mail order, to incorporating digital channels that allow buyers to increasingly self-serve. This also reflects the media mix and how to use the different traffic and sales channels.
At the same time, the culture surrounding B2B sales has not changed significantly, and it is this that creates complexity.
While consumers tend to make purchasing decisions in the moment as an individual, B2B sales typically involve multiple stakeholders. There is often a longer gap before a purchase is made to get approvals and sign-off. A buyer may gather and compare quotes before purchasing.
B2B buyers may have specific legal requirements and regulations that they must meet. Configuration and which products work together can also influence decision-making.
It’s important that you understand this complexity to see how digitalization can make life simpler for your B2B customer, as well as the new difficulties it might create and how to minimize these.