By evaluating your buyers better by considering what your buyers have on their plates, you can easily accomplish one of the most essential things of yours – generating more leads and contributing to your bottom line. Here is how you can create a meaningful connection to generate more business.
Study the Industrial buying cycle: from a supplier’s prospect, the industrial buying cycle consists of a two-step process: first the buyer realizing its needs, and the second buyer coming to the supplier to purchase the requirement. But that’s an underestimation. At a prominent level, the process consists of six different steps.
i. the buyer realizing a need for a product or service.
ii. The buyer researching to learn about how to fulfill the need.
iii. If the need is a new design, the buyer researches product data.
iv. The buyer evaluating possible suppliers.
v. the buyer shortlisting some of the best supplier options.
vi. The buyer purchases from the chosen supplier.
Be present everywhere your industrial buyer is: imagine you want to search about some information of which you already have a basic idea, what would you do? Mostly, we go to a direct source rather than taking the long step of conducting a web search. Many industrial buyers start the same way. To make an impact in the research phase of the industrial buying cycle, you need to learn about where potential buyers prefer to source, what kind of information they are looking for. Generally, at the starting point, most buyers need information such as can you provide what they are looking for? Do you qualify for their requirements? Impact the industrial buyer process even before the sales channel: let's start with the broadest and long-lasting stage- education. Establish yourself as a valued and trusted source of content before focusing on the sales channel. Provide buyers with the information they are looking for, make yourself a resource they did turn to again and again. To get the interest of the buyer establishes a cohesive content marketing strategy. By providing a better look at your business through the content you create and share without a hard sell. You can offer free eBooks or white paper, use social media advertisement, blog content, case studies, and many more. Stand out on the buyers' list: try and learn the prospect of the buyer by putting yourself into their shoes. know what is most important to them while sourcing. Speed and efficiency are the keys because you are not the only one in the race. No matter the size of the firm and the demand size, they all use shortlisting to make the final decision. It’s a significant way for them to narrow down a sea of choices. The Shortlist process has evolved it's not limited to scribbling the names of suppliers on the piece of paper. There are shortlisting tools available in the market which make their work easier and effective and at the same time make it difficult for your business.