I’m always looking at the latest trends in business – it’s part of my job. When you’re in the B2B segment, getting close to your clients and really “knowing” what’s it’s like to run a business provides great insights into the right solutions and marketing strategies that really “cut through” for the Aussie business owner.
Here’s what my team are seeing – based on our MYOB Business Monitor research – it seems that Aussie business owners are obsessed with “buying better”! It’s been a growing trend for the past year or so, and right now, the number one thing Aussie businesses want when improving their business is “improved supplier relationships and pricing”.
So if you’re in the B2B game, here’s an opportunity for you to get ahead of your competition – recognise and understand that Aussie businesses seek value above everything else. Not price or service – value!
A real “value play” requires a more sophisticated marketing strategy, because you need to really understand what your clients see as “value”. A powerful “value play” is so much more than price ― in Australia, business folk more than any other segment value strong, honest relationships. We like to know who we are buying from, what our suppliers stand for and that we’re getting a fair (but not necessarily cheap) deal.
Business owners do much of the buying but are incredibly time poor – so recognise this and tailor your services and account management processes to suit. Highly accessible, responsive account management with fair pricing is what your average Aussie business owner is looking for.
Here are a few extra insights for all you B2B businesses out there from MYOB’s latest research:
- The more staff your clients have, the more they value their relationships with suppliers. For businesses with more than 20 staff, 50% are focused smart procurement;
- The younger your business client, the more they see supplier relationships as a key priority;
- Business owners in Victoria and Tasmania are more focused on savvy shopping than all other states;
- The following sectors value supplier relationships the most; retail, hospitality, manufacturing, wholesalers and anyone who exports.
So when selling to businesses, give your clients the opportunity to see real value in what you offer them, and tailor your services to their needs, and they will reward you their custom, and with loyalty.
I’d love your comments and feedback on the Aussie business drive to “buy smart”. Who serves the business community well? Are we a nation of “frustrated bargain hunters” or is a genuine value play with fair pricing and sound service the key to B2B success?
