There's an ongoing (and probably never-ending) debate about social media and the new marketing paradigm as it relates to B2B (Business to Business) versus B2C (Business to Consumer) behavior.

A number of very smart people have weighed in on this topic.

Chris Brogan says that the biggest discernible difference in business communications between those two groups is the justification of purchases.

Bob Bly had a nice post saying there is a world of difference.

Brian Wool argued that the audiences are very different.

Seth Godin challenges the notion that B2B consumers are more rational.

I heard it said somewhere (and now I can’t remember where it was, perhaps Godin) that “the only difference between B2B buyers and B2C buyers is who is writing the check.”

About a month ago, I saw a study done by a number of firms called Beyond the B2B Buying Funnel: Exciting New Research about How Companies Make Complex Purchases.

And, in what may be a “telling myself a story” moment, I saw in it the increased justification for the opinion I’ve held.

They said that the B2B buying process comes down to “managing risk” in the mind of the buyer and that there are 4 strategies to accomplish that.

1. Approved vendor list. We're more comfortable with companies we know. If someone has pre-approved a vendor, the risk goes way down — even if it's not the best solution.
2. Word of mouth (co-workers and friends). According to MarketingSherpa, user communities are the #1 source of information for researching B2B purchases. A referral or a recommendation from a trusted source goes a long way to minimizing risk. Of course, it's easiest to build trust in person, but new social networks can help as well.
3. Word of mouth (existing vendors). A good sales rep build significant credibility with their customers, and is therefore a trusted source for referrals.
4. Credibility and position of vendors. We trust the wisdom of crowds, so if the 'market' says a vendor is good, then that reduces risk. This is the source of "nobody ever got fired for buying IBM". But smaller companies can also establish thought leadership in their industry niche, creating trust in their brand that way.

To me, this looks like them saying, “people rely on their communities and networks (however you want to define that) to make decisions.” So for #2, #3, and #4, if your Raving Fans are out talking about you, spreading the word, and convincing their networks of your value, you will actually influence more sales.

 

 

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