B2B enterprise collective decision-making is a complex process, involving many aspects such as the enterprise’s internal organizational structure, decision-making mechanism, and team collaboration.
B2B marketing has an important impact on corporate collective decision-making
- Data-driven decision support: B2B marketing provides data and analytics that can help companies better understand customer needs, market trends, and competitor situations. This kind of information can become a strong support for corporate decision-making and help companies formulate strategies more intelligently.
- Build trust and brand loyalty: Effective B2B marketing can help businesses build brand reputation and customer trust. Business trust in suppliers plays a vital role in the decision-making process as businesses want to work with reliable and valuable suppliers.
Personalized and customized solutions: B2B marketing allows businesses to provide personalized solutions based on customer needs. This helps attract more customers because they feel the business can meet their specific needs.
- Multi-channel communication: B2B marketing offers multiple channels such as social media, email, website, etc. that can be used to interact with customers. These channels help build closer connections and understand the wishes and needs of customers.
The role of the individual in corporate collective decision-making
According to Challenger’s survey data, there are an average of nearly 7 purchasing decision-makers involved in B2B companies. This means that with each additional participant, each person’s chance of influencing the decision is reduced, and the complexity of the entire B2B decision-making is greatly increased.
Social psychology research shows that groups tend to be more risk-averse than individuals, and each individual is more compliant. In a classic social psychology experiment conducted in 1951, Solomon Asch showed that almost 1/3 of people will follow the majority opinion even when it is clearly and demonstrably wrong. This has fascinating implications for communication in the B2B buying process.
Think about the environmental decisions you want to make. Any decision at work, especially one involving large amounts of money, is an important step in career development. Your reputation, your future income, your livelihood are all in it.
How to judge your decision-making wisdom? In any B2B purchase, there is no “right” choice. But everyone on the decision-making group—your boss, your colleagues, your team—will have a strong hunch about the right thing to do. Even if you are not stupid, betrayal requires courage.
Asking different questions and insights changes the way we think about the communication task. We can ask different questions. Instead of asking “how to solve the HR director’s challenges,” ask “how to build consensus across the entire procurement team.” The difference may be subtle, but it’s important. We are not here to solve a series of personal problems for individual buyers. Instead, we are trying to create an environment that makes consensus easier.
Drive the decision-making process by investing heavily in concepts such as “modern marketing” and the digital “buying journey.” Giving marketers something identifiable to believe in, commensurate with popular wisdom, helps build consensus; the entire team benefits from it. When you’re thinking about how to influence a B2B group’s decisions, try setting aside roles and thinking about the group as a whole. Consider messages and topics that will make you look good to your audience.
Business leaders and marketing experts’ views on the impact of B2B marketing on corporate decision-making
Some business leaders and marketing experts have commented on the impact of B2B marketing on corporate collective decision-making.
- Senior marketing expert Philip Kotler believes that B2B marketing can help companies gain insights into customers’ real needs and thus formulate differentiated competitive strategies.
- Former Google CEO Eric Schmidt mentioned in his book “How to Become a Leader Like Google” that business decisions should be based on data and facts, not intuition. B2B big data marketing provides this kind of user-based data support.
- Former Wal-Mart CEO Lee Scott once said that deeply understanding customers and creating value is the key to corporate decision-making. B2B marketing can capture changes in customer needs and provide information for decision-making.
- Barbara McGlade, former chief brand officer of Intel, emphasized that brand image will affect B2B purchasing decisions. Therefore, brand marketing should be integrated into corporate decision-making.
- Strategic management expert Michael Porter believes that companies need to develop differentiated competitive strategies based on their own circumstances. B2B marketing analysis can help find the direction of differentiation.