How to Personalize for B2B? Focus on Buyer Roles
As B2B eCommerce nears the $2 trillion mark for annual sales, more and more companies are vying to win their share of the revenues. To stand out, companies must successfully use B2B personalization to prove relevance to customers on a role-by-role basis throughout the purchase journey.
B2B online sales grew 11% year over year in 2018, according to a B2BecNews’ annual market report, and with 75% of B2B suppliers launching online initiatives in the next two years, more growth – and more competition – are on the horizon.
To stand out from the crowd, B2B companies are investing in B2B website personalization to deliver an ultra-relevant shopping experience. The majority of business buyers say they’d pay up to a 5% premium for tailored experiences that help them get the most from their vendors with maximum efficiency, according to the PROS Global Survey.
How to Deliver B2B Personalization
To deliver streamlined personalization in B2B marketing, sellers must go beyond mimicking the company-specific product and pricing catalogs of old. Given the complexities of online B2B purchasing, sellers should also find ways to personalize experiences based on individuals’ roles, responsibilities, and budgets. In doing so, B2B suppliers can:
Surface the right products more quickly
Dynamic personalization can serve individualized content and products starting with the initial page load, based on the individual’s past purchase history and company- and role-specific rules. On-site search should also be personalized, given that it frequently tops the list of important features for B2B buyer.
Provide the right context during the consideration phase
More B2B buyers than ever are researching products in-depth, with 32% saying they use more sources when researching and evaluating purchases, according to Demand Gen’s Report, “2022 B2B Buyer Behavior Survey.”
To stand out as a definitive product information source, B2B sellers should demonstrate relevance through personalized product content on their website that is applicable, speaks to, and demonstrates industry expertise – an important feature for 56% of B2B buyers according to Demand Gen’s Report.
Route items appropriately once ready for purchase
Once B2B buyers have selected the right items, personalized purchasing paths can serve them the right options for their role – whether it’s placing items in an order queue for a colleague with spending authorization to review and approve, completing transactions via P.O., or buying with stored credit card information. As they navigate the cart and checkout, dynamic personalization tools can factor in role-based information and business rules on the fly and serve further recommendations, such as bulk options and bundles that help make budgets go farther.
How are you building role-based personalization into your business? Schedule a demo of Monetate to see how B2B retail personalization software makes it easy.