24 Oct Head and heart: the role of emotions in the B2B purchasing process
We all like to think that we act rationally and logically. That, when we make a business decision, we weigh up all the options and their potential consequences. But, in truth, emotions are an important part of the process too. Even in the B2B environment, purchasing decisions are based on more than just numbers.
This has been shown by various studies. One, by the Financial Times Commercial Insight Group, points to the optimism and trust that a brand inspires as being a key factor when a company is looking for a supplier. The same study suggests that the negative emotion which has the biggest impact on a B2B purchasing decision is uncertainty.
Similarly, a Google study shows that 64% of B2B buyers feel a connection with brands, whilst only 5% purchase things entirely rationally. Taking it one step further, more than 60% of B2B buyers would be willing to pay for a Premium, or more expensive option, if they felt that a brand could offer them personal value.
The problem is that this emotional connection is often confused with someone being too sentimental, when that’s not the case at all. In fact, what B2B brands need is a certain level of guarantee of risk management. Unlike B2C, B2B brands need security and trust, both on a professional level and on a technical, financial and even legal one.
Essentially, whilst B2C brands ask themselves how they can surprise their consumers, B2B companies look at how they can allay their clients’ fears.
That’s why, according to the Financial Times, it’s important that there’s the impression that a company is purchasing leadership in a certain area and that, once the relationship has been established, both parties will be loyal to one another. The company culture is another important piece of the puzzle.
All of these emotional factors don’t mean that things related to how the business is run aren’t taken into account. In fact, there are studies that link how emotive advertising is with its profitability. Emotive content tends to be 32% more profitable than content that’s purely rational. What’s more, advertising that provokes an emotional response can generate up to 23% more sales.
At Intracon Spain, our aim is for B2B companies to be able to position their brands as offering personal value, increasing their visibility and generating sales.
We also take care of designing the B2B purchasing process to make it as easy as possible, because when something is easy, it works.
We’ll leave you with an infographic designed by Intracon Spain with information that clearly demonstrates how emotions can influence the B2B purchasing process.