Making a purchase is like navigating a maze of emotions, with rationality sometimes taking a back seat to impulses and feelings. You might think you're making logical decisions, but more often than not, your heart is at the wheel, while your brain is just along for the ride.
In the realm of buying decisions, emotions reign supreme. It's been said that around 80% of our choices are emotionally driven, even if we later try to justify them with logic. It's like our emotions are the boss, and rationality is just the assistant trying to clean up the mess afterward.
But wait, in the world of business-to-business (B2B) sales, isn't it all about logic & reason? Well, not quite. While rationality plays a significant role, emotions still hold considerable sway, albeit sometimes in disguise.
Consider this: in B2B transactions, companies invest hefty chunks of time and resources into research and analysis. They crunch numbers, assess risks, and ponder over options. One study indicated that approximately 45% of a B2B customer’s buying cycle is spent doing independent research over one to three months.
Of course, the reason we spend so much time researching options is obvious. We want the best product or service for our organisation. Imagine you’re an academic in a lab, on the brink of a pivotal discovery. You recognise the need for a specific instrument to propel your research forward. There are multiple options out there but which one is best?
It's a hefty investment. You and your purchasing department need to make sure this instrument will hold long-term value for your entire laboratory. The truth is, several of the options are likely to fulfil your needs. So, how do you make the decision?
I’d argue emotions play a significant role. Academic research, for example, is often driven by a desire for recognition and validation within the scientific community. Emotions like pride could influence their choice of instrument, especially if it aligns with their aspirations for groundbreaking discoveries or prestigious publications.
Take a moment to think about why you do what you do professionally. Is it merely about climbing the corporate ladder, or is there a deeper emotional driver? Maybe it's about validation, recognition, or ensuring stability for your loved ones. These emotional motivations, though not always obvious, often steer our professional endeavours.
So, how do we tap into these hidden currents in B2B sales? Well, it's not about prying into someone's personal life during the first meeting. Building trust is key. Start by understanding the business goals and providing an exceptional sales experience. Trust is the bridge that allows deeper conversations about emotional drivers to happen organically.
Once you've peeled back the layers and uncovered what truly matters to your stakeholders, you can tailor your sales pitch accordingly. Highlighting how your product or service aligns with their emotional needs not only increases your chances of closing the deal but can also lead to more favourable negotiations.
Let’s continue our example from earlier and assume pride and validation are the emotional undercurrents driving our academic prospect’s decision to buy. Including examples of how your product has been used in prestigious papers published in high-impact journals can demonstrate the instrumental role you’ve played in facilitating ground-breaking research and achieving recognition within the academic community.
Still not convinced that selling with emotion really works? Well, market research suggests that 68% B2B buyers who see a personal value will pay a higher price for a service.
Sure, talking about emotions in a business context might feel awkward at first. But remember, it's not about manipulation; it's about building genuine connections and finding solutions that benefit everyone involved. After all, in the world of B2B sales, emotions matter just as much as spreadsheets and PowerPoint presentations.
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