New business

Selling B2B? Here’s why your customers are looking elsewhere…

- November 3, 2021 2 MIN READ
b2b

A survey by SavvySME, has revealed B2B buyers are losing interest in what sellers have to offer, and it’s nothing to do with pricing

The findings are part of the annual SavvySME B2B Jobs Report, which analyses the relationship small to medium-sized businesses have with B2B sellers.

Asked why they may have lost interest in partnering with a B2B seller, three in four small business owners cited a lack of responsiveness from sellers while 85 per cent said the B2B failed to address their needs.

Connections essential in B2B

Sixty-three per cent of business owners lost interest in a potential B2B seller when they received an impersonal first response. While three-quarters of surveyed respondents refused to do business with suppliers who took too long to respond to their initial inquiry or request for a quote

Han Teng, SavvySME Top Influencer in Public Relations and Advertising, suggests it’s vital to nurture customer connections and relationships.

“Ultimately, business is two people representing their companies coming together discussing a deal.” “From the first email to the first meeting,” Teng said.

Make a good impression

Business etiquette expert Judith Kallos notes that a quick response not only provides a positive first impression but allows sellers to separate themselves from other sellers:

“The quicker you respond, the more favourable of an impression you will make. With new contacts, know that onliners email several sites or companies at once. Those who respond quickly and professionally will have the coveted opportunity to create an incontestable positive impression. In contrast, those who respond at their convenience may cause the Sender to wonder what delayed your response while your competitors beat you to the punch!”

Less than a third of potential buyers pointed to a shift in priority; however, that pales compared to the nearly 86 per cent of small businesses who lost interest in a potential B2B seller because they received a response that didn’t address their business’s needs.

Putting the human back into B2B

The fact that three of the top four reasons B2B buyers lost interest in sellers was due to either impersonal connections or poor first impressions is quite telling; it shows what B2B buyers want and reminds us that buyers are human.

People love a great deal, product, or service, but they value trust, respect, and communication even more. Showing potential buyers you have the same values as a B2B seller goes a long way, says Darren Clay, SavvySME Top Influencer in Marketing.

“More than the product you offer, making your mark in the B2B space has a lot to do with how you serve your customers. Products and service go hand in hand, and this entails hard work, the ability to listen well, and service expectations that need to be met.”

B2B sellers need to re-evaluate how they communicate with potential customers and determine whether they provide them with what buyers genuinely crave. Sellers who can make a personal connection with buyers, understand their needs, and meet those needs will always connect with more buyers than those who don’t.