Emotions in B2B affect every aspect of a business – they drive day-to-day marketing decisions, influence purchasing plans and sway personal recommendations.
Remember: any relationship that involves people involves emotions. Passion and how a person feels about a product or service ‘in the moment’ can influence their rational response to it. In this way, emotions drive human behavior and impact on business. The impact of emotions in B2B is as important as their impact on B2C interactions or staff management. In fact, one Google study showed that emotions and a personal connection are much more evident in the B2B environment than in B2C.
The importance of emotion in making rational decisions should not be underestimated, nor should their impact on business success and positive company outcomes.
From a B2B perspective, emotions can influence decision-making when it come to renewing contracts, marketing and on-selling products, business development, and sponsorships. That means you need to understand and excite the emotions of B2B customers as you would B2C.
In a crowded market, when you’re competing for the attention of suppliers and partners, you need to differentiate yourself from the competition. Satisfying B2B partners and ensuring they are happy with your relationship is key to ensuring you remain a preferred, trusted partner.
What emotions you should focus on in B2B
Understanding the emotions and satisfaction levels of your B2B partners is the first step towards finding out what drives their decisions, what excites their business passions and, importantly, how they feel about you and your products.
Are they confident in their dealings with you? Do they trust you? Are they happy with your products? Do they need reassurance? What do they think about your quality or prices? What does their gut tell them about you? Their emotional responses to these questions can unlock new and useful strategic information to help you build better B2B relationships.
Emotions in B2B like happiness and trust are key to successful business relations, but so too is minimizing negative emotions, such as fear and anger. Surprise and anticipation, on the other hand, could be either positive or negative, depending on how they are positioned in relation to your business.
As with B2C, your B2B partners should be centric to your business. Simon Sinek captivated his audience at a TED talk by highlighting how the surprisingly simple Golden Circle can help identify your business goals and put customers at the heart of marketing plans.
One key difference, of course, is that some B2B decisions are higher risk for the individual making the decision. A bad purchasing decision as a B2C customer may result in an unwanted purchase and a trip to the post office to return it, but poor B2B decisions can have a wide-ranging impact. Investing in new premises or changing key suppliers can be expensive and have a knock-on effect in terms of disruption and company performance. Poor decisions can instantly impact on the bottom line.
So how do you help your B2B partner make the best decision for both their business and yours, and to win the best results to boost your long term relationship?
Techniques used in B2B and B2C have never been more similar – many of the strategies for success now crossover. The techniques you use to maximize customer satisfaction may also be effective in a B2B capacity.
For example, ensuring your partners receive as much information as possible about your products and being more transparent by publishing your prices are two simple ways you can treat your B2B clients like the consumers they actually are.
Consider also using loss-leaders and other consumer promotions to engage and excite your B2B partners. And, finally, when it comes to sealing the deal, make it as easy as possible for your partner to spend their money with you. Remove red tape and unnecessary complications from your contracts and purchasing processes. Making something ‘easy’ can leave your partner with the satisfaction of having achieved an outcome with minimal fuss and stress.
Decision makers at your partner companies need to feel you are credible and trustworthy – without feeling you are exploiting them for financial gain. Business relationships are based on respect, trust and mutual benefit. Anything that can influence these elements can influence the business relationship.
To do this, you need to tap into their emotions and measure their satisfaction levels in a confidential, high-integrity way. You then need to used this information to make any changes necessary to ensure you remain in their ‘good books’ well into the future.
How Emolytics can help measure emotions in B2B
Emolytics can take the guesswork out of the B2B relationships, and tap into the emotions of your B2B partners in a non-intrusive way that builds confidence.
The scientifically developed Emoscore KPI anonymously measures emotions and satisfaction levels via short multi-channel, web and email surveys. There are also opportunities to exploit industry functions and networking events to find out what your B2B partners really think about your business.
The KPI is user-centric, and questions can be tailored to your partners and products so you can capitalize on this anonymous research without jeopardizing existing relationships. Instead, take the chance to use partner feedback to improve relations.
Emoscore is effective across all areas of your B2B interactions and can benefit relationships large and small, old and new. Drill down into the data to highlight the impact your management decisions, your pricing or your marketing has on your business relationships.
Emolytics is easy to implement – it does not require extensive technical expertise. Benefit from regular reports that summarize your results to help drive change in your business. Find out what your partners do and don’t like about your services, or why they haven’t renewed a contract (and offset it before it happens again).
Start making the most of your B2B relationships today
Measuring emotions in B2B can help provide valuable feedback and pave the way for better client relations, healthy long-term relationships – and more sales and profits.
The emotions of your B2B partners are as important as the emotions of your B2C contacts. Tapping into the emotions of partners and devising strategies to reassure them about your business builds confidence and healthier bottom lines.
Join other leading companies like Carmeuse, Delta Business and Socomec in using Emolytics to tap into the emotions of your B2B partners.
Contact Emolytics to find out how you can make the most of each and every business relationship. Get in touch for a free consultation with our digital experts today.
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Emotions in B2B affect every aspect of a business – they drive day-to-day marketing...