In B2B Purchasing, Less May Be More

Buying decisions are increasingly complex in today’s B2B solutions purchases. More stakeholders are becoming involved in the process, and a growing surplus of information could be overwhelming to buyers. It’s important to arm B2B customers with information and options to make the best decisions, but how much is too much?

Most sales professionals believe that the more information a consumer has, the simpler their decision-making process will be. However, having a lot of data and many possibilities can muddle the buying process.

The process can be further complicated by the number of decision-makers. There are often several people involved in a B2B purchase — a company’s purchasing manager may want to perform competitive analysis, while a CFO might examine the ROI. Such in-depth review can add time to the process and, subsequently, delay the purchase.

The responsiveness of B2B suppliers and sellers to the needs of their customers can be crucial. Based on those needs, information and possible options can guide decision-making, but too much information can trigger additional research, magnify perceived risks and stakes, and heighten anxiety and expectations for finding an ideal solution.

Guiding Decisions

A prescriptive approach to customer needs can be more effective, thus making the entire purchasing process simpler. Clients experience an increase in purchase ease with a guided approach. Deciphering for customers the most pertinent information amid a vast sea of data, as well as determining the most viable options, allows the development of effective buyer strategies.

A report by Salesforce — a customer relationship management platform that provides cloud-based applications for sales, service and marketing — says that buyers who are overwhelmed are much more likely to question their selections. Some purchasing decisions are deferred because of that uncertainty.

Guiding buyers toward clear, optimal choices can reduce insecurity and potential regret, ultimately bolstering confidence in their decisions.