The past five years have demonstrated just how quickly things can change for an entire industry. Since the beginning of the COVID-19 pandemic, manufacturers typical B2B sales journey has been fundamentally altered. This shift is driven by a younger and digital native buyer. The traditional, relationship-driven sales approach has evolved as buyers demand digital-interactions, speed, and transparency.
Today’s buyers are more informed about the products and companies they want to purchase from. Over 80% of the buying process now occurs without engaging a vendor (Gartner), it was 67% just 3 years ago. These new customers also want the same exciting and personalized experiences they encounter in the B2C world.
As manufacturers navigate this shift, understanding the new expectations and behaviors of these modern buyers is crucial. Manufacturers are increasingly turning to Configure, Price, Quote (CPQ) solutions to adjust to the needs of the newest buyer by streamlining the sales process, enhancing customization, delivering fast and accurate quotes and providing an exciting way to buy online. Let’s look deeper into the new buyer behavior since the pandemic and how leading manufacturers can leverage these insights with the help of CPQ to enable a new level of buyer engagement.
This opportunity is enormous for manufacturers who act quickly to meet and engage with these customers anywhere in their buying journey.
What does the new manufacturing buyer look like?
Today’s buyers are comfortable with digital tools an expect seamless online interactions
Since the pandemic, manufacturing buyers have increased their use and reliance on digital tools. The shift to virtual interactions has made the job of top sales rep much more difficult for your business. That’s why nearly half of buyers would prefer to never interact with a salesperson.
Today’s buyers are more than happy to buy their products fully online, and they expect manufacturers to provide seamless and efficient online interaction to complete these purchases.
Manufacturers must ensure their digital channels are intuitive, responsive, and integrated, providing a user experience that meets the high standards set by consumer technologies. Implementing Tacton CPQ software can streamline the online buying process, offering real-time customization and accurate pricing that enhances the overall customer experience. Check out our latest ebook for an in depth dive into the new customer profile!
Demand for personalization
Modern B2B buyers expect the same level of personalization in their professional purchases as they do in their personal lives. They seek solutions that are specifically tailored to their unique needs and preferences, rather than generic offerings. This demand for personalization extends beyond products to include personalized content, recommendations, and interactions.
Manufacturers can meet this expectation by leveraging Tacton CPQ that allows for detailed customization of products and services. These tools can provide tailored quotes and configurations that address individual customer requirements, quickly enhancing customer satisfaction and loyalty.
Informed decision makers
With so much information at the fingertips of every buyer it’s easier for buyers to make fully informed decisions before they purchase or reach out to a sales rep. Access to detailed product information, customer reviews, customer stories and even competitive analysis means that buyers enter the sales conversation with a higher level of knowledge and expectations from a manufacturer.
Customers demand transparency, accuracy and value in every interaction. For manufacturers this means the sales approach must be consultative, providing valuable insights and solutions rather than just products and product information. Utilizing Tacton CPQ software can help sales teams quickly generate precise quotes and configurations, allowing them to respond promptly to the informed queries and complex requirements of today’s savvy buyers. This not only improves the efficiency of the sales process but also builds trust and credibility with customers.
Key Factors Driving Change for manufacturers
Digital Native Demographics
A large factor driving the change in buyer behavior is the growing number of digital native demographics with buying power in the manufacturing industry. A digital native is a person who grew up with the presence of digital technology or in the information age. As younger professionals move into decision-making roles, they will take their internet first mentality to their buying decisions.
Sustainability and regulatory compliance standards
Sustainability has become a critical consideration for many buyers. With impending legislation and regulations there is a growing emphasis on purchasing products that are both high-quality and produced with the environment and social responsibility in mind. Buyers are scrutinizing manufacturers’ practices and choosing partners who align with their own values of sustainability and ethics. They demand transparency in how products are made, and the impact their product will have after it’s been purchased. Manufacturers can use Tacton’s Environmental Footprint Configuration to quickly calculate the impact their products will have and share that quickly with customers. By integrating sustainability into their sales process, manufacturers can appeal to this growing buyer priority and build stronger, more loyal customer relationships.
Implications for manufacturers
It’s time to invest in a seamless online buying experience
As buyers become increasingly digital-savvy, manufacturers must invest in enhancing their digital engagement. This involves creating a seamless, integrated online buying experience that meets the expectations of today’s buyers. Tacton CPQ can play a crucial role in this transformation, offering tools that streamline the configuration, pricing, and quoting processes, and ensuring that digital interactions are smooth and efficient.
Leverage customer data for personalized solutions
To meet the demand for personalization, manufacturers need to collect and leverage customer data effectively. By understanding individual customer preferences and needs, manufacturers can offer tailored solutions that enhance the buying experience. Tacton CPQ facilitates this by capturing detailed customer data during the configuration and quoting process, enabling manufacturers to provide highly personalized products and services.
Transparency in sustainable practices to meet buyer and regulator expectations
Transparency and sustainability are becoming non-negotiable for modern buyers. Manufacturers must be transparent about their supply chains and demonstrate a commitment to sustainable practices. Tacton CPQ can help manufacturers communicate their sustainability initiatives and product features clearly, providing the transparency that buyers seek. By doing so, manufacturers can build trust and meet the evolving expectations of their customers.
In closing
The landscape of industrial manufacturing sales has been irrevocably transformed by the COVID-19 pandemic, ushering in a new generation of buyers who are digitally savvy, demand personalized experiences, and are well-informed.
Leveraging Tacton CPQ software is a key strategy in this adaptation, enabling manufacturers to meet the heightened expectations of modern buyers with seamless digital interactions, tailored solutions, and transparent practices. By embracing these tools and focusing on enhancing digital engagement, personalizing customer experiences, and committing to sustainability, manufacturers can successfully navigate the changing market dynamics and build stronger, more loyal customer relationships.
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