B2B Buyers Demand Personalization Above All Else, Study Finds

B2B buyers, much like consumers, want personalization, according to What B2B Buyers Want In 2019: Speed, Personalization And Intelligence, a study conducted by Hanover Research for PROS.

Of those polled, 69% agree that personalized offers empower them to get more value from their vendors. And over half will pay higher prices for tailored product and services recommendations. 

In addition, 93% desire personalized pricing and incentives, and 44% need them, while 92% want personalized recommendations and 42% need them. 

Of those polled, 61% would pay 1% more for instant pricing information. And 47% would pay 3% more for it.

In addition, 64% would probably switch to a vendor that offers real-time, personalized pricing.

This craving for personalization should be kept in mind when sending emails, making phone calls or engaging in face-to-face meetings with prospects and customers. 

Meanwhile, 30% are now making more than half their purchases on digital platforms -- a number that is expected to hit 44% within two years. Two years ago, only 15% were using digital for most of their buying. 

However, B2B orders often get cancelled for these reasons:

Price increases — 39% 

Finding a cheaper supplier — 30% 

Bad customer service experiences — 27%

Order mistakes — 27%

Finding a more convenient supplier — 26% 

Finding a faster supplier — 24% 

Hanover Research surveyed over 1,000 B2B procurement and purchasing leaders across 10 countries on behalf of PROS.  

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