B2B marketing companies are often puzzled by the
buying decisions of their target audience. Sometimes, even promising leads do
not complete their journey to the final conversion. Naturally, with the complex
nature of B2B sales cycle, the involvement of multiple decision makers and
typical high investments required, a complete understanding of consumer
decision-making process is not possible.
However, understanding the factors
that can influence their buying decision can help you shape your marketing
strategy accordingly.
The most prominent factors include -
• External
factors like fluctuations in money market, change in government policies and
behavior of competitors
• Whether or not
your potential customers feel that they have an urgent need to act
• Present
financial condition of the organization
• Interpersonal
conflict among key decision makers
• Individual
factors like social status or age of decision makers
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