Did you know B2B buyers have their own Maslow's Pyramid? They are more complex than you think. They don't just care about the lowest price or the best features. They also care about value.
Wait, what's the difference?
Let’s break it down.
Read more at: Harvard Business Review
There are five elements of value that are important to B2B buyers:
Table stakes: These are the basic requirements that a product or service must meet in order to be considered. For example, a phone needs to be able to connect to 5G and provide incoming and outgoing calls.
Functional value: This is the value that a product or service provides in terms of its features and benefits. Say - a connection to the internet, or texting.
Ease of doing business: This is the value that a product or service provides in terms of its ease of use and customer support. For example, a smartphone that is easy to learn and use.
Individual value: This is the value that a product or service provides to the individual buyer or user. For example, apps that help a user to be more productive.
Inspirational value: This is the value that a product or service provides in terms of its vision, mission, and purpose. For example, phones that are made from responsibly sourced materials, designed to make the world a better place.
Build a startup that not only connects to our metaphorical 5G, but also connects with customers' needs, ease, individuality, and inspires a better future. That’s how you build an empire 💪
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