Over the past few years, there has been a debate regarding the role played by websites belonging to the small business. Some believe that any business-owned sites still account for something, however, others persist that Google can replace them to be a new homepage for many small businesses. However, in the B2B marketplace, the website is a critical checkpoint for the buyers.
One study by LinkedIn showed that 44% of B2B buyers considered the firm’s website as a major influence in their purchasing decisions. In addition. 70% of them thought it was their top two factors. This study also featured information regarding 502 business decision makers in the United States who have sway on the purchasing decisions in B2B firms.
Which top marketing assets most influence purchasing decisions?
Based on 2018 LSA’S local media tracking study, we can see the similar results coming up. Marketing assets such websites were dominant channel for consumers to get information once they get ready to purchase. From another study, the result indicated that 48% of people would like to visit brand websites as the most-used information resource when they are researching a product.
LinkedIn’s study revealed that 28% of B2B buyers consider events as the second most significant influence factor. This allows them to network and builds a face-to-face conversation with potential buyers. The remaining 28% influence is the content and relevant expertise or activities. One conclusion here is that the most influencing B2B brands will have an appealing website, thoughtful insights and expertise which would be accessible via the contents they deliver, as well as their people.
Another study was attempted to identify other elements which influence B2B buyers’ decision making during initial sales engagements. 52% replied “a widely recognized brand” was the top element to impact their decision process. In other words, brand reputation or brand awareness is an implicit indicator of purchasing consideration. Besides that, elements such as the customization, shared connection and “leadership” were considered as the other potential influences.
It is not surprising to see the importance of branding and advertising in this segment. In fact, almost all of us unconsciously agree any widely promoted brands are supposed to have more commercial credit if comparing those we know little about. Although this is not always the case, it happens often.
Moreover, one recent survey targeting 150 B2B executives figured out 87% of them have increased their corporate brand investments over the five past years. A majority of these inputs going towards inbound and outbound marketing outputs. 82% of them believed these investments are or will be well paid off in the forms of sales and financial activities.
Especially for the local marketers and sellers working for small businesses, the study indicates a formula of successful brand management comprises of a compelling website, “thought leadership” and a powerful advertising strategy. Particularly, brand awareness is playing an outstanding role in the local business owners decision-making process.
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