Building trust with someone or a group of people is easier said than done. For the most part, B2B businesses have difficulty establishing a mutually trusting relationship with their clients. The same couldn’t be said for the B2C companies, as their customer-centric approach makes it easier to gain the clients’ trust and vice versa. However, B2B businesses must have a trusting relationship with their buyers because B2B buyers are actively seeking trusting partnerships that will bring value to their organisations and help them achieve their goals. The consequences for not having a trusting relationship with the clientele are substantial. It will hinder these B2B businesses from growing a loyal customer base, boosting sales, elevating their stature, and increasing revenues. We will take a closer look at the primary concerns about trust in B2B relationships and why your B2B marketing strategy needs to revolve around trust.
Advice and recommendations can have the desired impact if the other party is willing to listen and follow it through. Unfortunately, more than half of B2B buyers prefer to search and gather information about available products or services by themselves rather than seek consultation and trust the words from a sales rep, marketer, or the company’s expert. The main reason behind this distrust is that many B2B businesses have their own agendas and neglect the buyers’ interest, being cagey and withholding necessary information.
Although it may seem difficult to tackle this issue, the solution is simple. For example, a Harvard study has shown that 86% of B2B buyers surveyed were much more likely to trust the advice of their B2B partner if that partner actively listened and took a proactive approach to sales. This study further supported the idea that having a trusting relationship would make it seamless to do business and benefit both buyers and suppliers. Therefore, be willing to listen, and buyers will come straight for your business.
The world has begun to enter the future, proven by digital transformation. This change has affected business sectors, such as B2B’s and B2C’s. However, the transformation mentioned above has created a somewhat troublesome issue. Most B2B buyers are reluctant and distrust B2B suppliers to securely manage their confidential data. This would lead to a standstill for B2B to carry out their businesses, as everything has been digitised. It is very concerning for the future of B2B businesses with this issue lurking at every corner, but not to worry as there is a solution that can change the buyers’ perspective.
B2B suppliers would need to invest in their security systems and software. They will change the buyers’ viewpoint and encourage them to use the B2B services. Furthermore, B2B suppliers should become transparent and not hide any hidden agendas and develop a state-of-the-art cybersecurity system. This kind of effort wouldn’t go unnoticed by potential buyers, resulting in them trusting B2B businesses to handle their confidential data. Instead, prioritise making a secure system to attract and secure buyers.
In this modern age, information is everything, and anybody can access it. No longer can businesses be dishonest to their buyers and expect to get away with it, as said buyers are smart enough if they are being tricked or lied to. This kind of mentality, added with poor-quality information deliverance and mediocre services from the suppliers, pushed buyers to distrust them. Buyers would even see this partnership as a risk. It will become insurmountable for B2B suppliers to establish a trusting relationship with their potential buyers. However, not to worry as a solution to overcome this challenge exists.
B2B businesses would need to utilise technological advancements. They can start by developing an easy-to-use mobile app to boost the quality of information being delivered to potential buyers and make it available for them at the touch of a button or swipe of a screen that can be accessed anytime and anywhere in the world. This method will ensure buyers trust B2B businesses as there is nothing to hide. High-quality information and a seamless experience will undoubtedly gain buyers’ trust.
A trusting and honest relationship with your clientele is a number one priority. However, establishing a said relationship is not difficult in the slightest, as shown by these points stated above. But above all else, your clients want to maximise their ROI, and as an award winning agency, we understand that too! Our team of digital marketers based out of Singapore is ready to help you reach your marketing goals! Contact us today for more information.