Why do people buy? Why do people buy certain products? Is it as simple as wanting something and paying the most? Is there more? In truth, B2B buyer motivation is tricky. We don’t want to disturb potential customers by asking why they’re considering our product; it’s more beneficial to appeal to their motivations from the start and assist them through the purchasing process.
- Here are Some Common Customer Motivations
- Anxiety and Fear
- Gain in Cash
- Fear of Missing Out (FOMO)
- Need
- Identifying Buyer Motivations
- Market Test
- Use Call Monitoring Software
- Use CMRs to Categorize and Monitor Customer Data
- Customer service questions
Here are Some Common Customer Motivations
Anxiety and Fear
Fear is a powerful buying and action incentive, which explains why your parents might spend hundreds on a web app to store critical data. Companies worry about theft and trespassing, so buying a security system is a major priority. An alarm system provider might capitalize on this worry by portraying their product or service as essential to safety and security.
Gain in Cash
Most companies want to optimize their ROI, which motivates B2B buyers (ROI). Trustworthiness and reliability are key decision-making elements; emphasize how your product or service may reduce loss.
Other benefits may motivate B2B buyers, but they still reduce profit or loss. A corporation may invest in an IVR system or marketing automation tools to boost worker productivity.
Fear of Missing Out (FOMO)
Customers buy because they don’t want to miss the ‘next great thing,’ an emotional rather than rational motive. Conformity might be a buying incentive.
In the business-to-business sector, organizations like Chubb and Carenet regularly promote technologically new items to avoid losing ground. If competitors incorporate new technology and items into their plans, they may follow suit, especially if the organization is a thought leader.
Need
This is one of the most urgent B2B and B2C buyer motivator. The consumer may realize they’ve encountered a situation that requires resolution or run out of a need. This reality then forces them to search for a product that meets these needs.
Identifying Buyer Motivations
Market Test
Every marketing strategy must include a competitive analysis. Observing how competitors offer and price their products reveals target market buying reasons. Robotic process automation (RPA) lets you train ‘bots’ to investigate rivals’ websites.
Use Call Monitoring Software
Contact-tracking software may help you capture facts you would overlook during a call, such as location, device kind, and the marketing activity that caused the call, for quicker customer insights and more accurate customer profiles.
Use CMRs to Categorize and Monitor Customer Data
The CRM collects, tracks, and analyzes existing and future customer data from numerous platforms. Your CRM system may automate customer-related business operations, enhancing efficiency, maintaining consistency, and offering insights to help you make the best customer-related choices.
Customer service questions
A consumer’s questions may reveal their intentions. Whether you support customers through social media, email, chatbot, or the phone, make sure your team monitors recurring questions to identify likely reasons.