Adobe study shows parallels in B2B and B2C buying behavior
The results of the Adobe study show that typical consumer buying behavior in B2C is also becoming established among B2B buyers, citing customer experience, purpose, and transparency as three key success factors that unite business and consumer marketing.
The result of Marketo's "Creating Epic Customer Experience" report shows that typical consumer buying behavior in B2C is increasingly becoming established among B2B purchasing decision-makers in companies, which means that the traditional differences between B2B and B2C marketing are fading. 1215 B2B marketers and B2C customers from various industries across Europe were surveyed for the study, and brand transparency appears to be playing an increasingly important role for business buyers, with 78 percent seeing it as a driving factor in their purchasing decisions. Brand purpose is a factor in the choice of 68 percent, and just under half of B2B buyers (49 percent) expect a personalized customer experience.
Private customer experiences are increasingly being transferred to business processes, and business buyers are increasingly expecting the same seamless processes. Marketers must therefore say goodbye to strictly separate B2B and B2C marketing strategies and establish a "business-to-everyone" approach. After all, according to the study, 70 percent of B2B marketers also have difficulty positioning their offerings in a crowded market and will therefore have to identify and address their target groups in a more targeted manner in the future - as has long been the practice in B2C marketing.
Accordingly, the "Creating Epic Customer Experiences" report identifies three key areas where B2B and B2C are increasingly merging:
Privacy, transparency and trust are important decision-making factors for consumers - and increasingly so for B2B buyers. Whereas ease of doing business was once considered a unique selling point, purchasing decision-makers in companies today also expect a smooth customer experience. For 85 percent, this includes above all a fair offer. 83 percent also want to be sure that their personal data is protected. Around 78 percent expect brands to be honest and transparent.
Brand Purpose and ethical and sustainable business practices are also playing an increasingly important role in business contracts. For 68 percent of respondents, Brand Purpose is an important factor. 67 percent strive to work with environmentally conscious brands. 64 percent prefer to cooperate with companies that focus on fair processes and ethical standards along the entire supply chain. Those who are not transparent in these matters miss out on important opportunities: at 48 percent, almost half of the companies have already suffered business losses as a result. 30 percent of respondents would not do business with a brand whose values contradict those of their own company.
To offer customers seamless and personalized experiences across all touchpoints, brands are increasingly turning to technology. This is because it can not only win new customers, but also strengthen existing customer loyalty. Nearly half of B2B buyers say that personalized offers and communications increase their loyalty. However, at 32 percent, just under a third of B2B marketers have difficulty adapting their own offers to customer needs.
Jamie Anderson, President EMEA Digital Experience at Marketo, an Adobe company, states: "Whether consumers or businesses, the basic psychology behind the purchase decision is little different. Both B2B and B2C customers expect marketers to always know who their customers are, what they want, and what point in the customer journey they are at. B2B marketers need to offer business customers the same experiences they are used to in their personal lives. That's a big challenge, and there's a fine line between failure and success."
