What drives B2B customers to choose one vendor over another?

Dr. Ron Friedman, psychologist and the founder of ignite80, surveyed B2B buyers about what drives their decision-making process. The findings show that “B2B customers prefer interactions that fuel their psychological needs—even if they require more time or cost more money.” These ingrained psychological needs include autonomy (desire for choice), relatedness (connection with others), and mastery (experiences that grow their skills).

Others cite seven key emotional drivers behind every purchase: need, fear, acceptance, financial gain, aspiration, avoidance of pain, and comfort and convenience.

While the importance of addressing psychological needs is universally accepted by marketers, it’s impossible for brands to accomplish this without a deep understanding of their customers. According to the State of the Connected Customer report by Salesforce Research, “76% of B2B customers expect companies to understand their unique needs.” Yet, only “34% of companies treat customers as unique individuals.”

This gap presents a challenge for businesses: to commit to knowing their customers better.

How to Know Your Customers Better

A rich understanding of customers provides businesses with a compass that helps them navigate today’s complex B2B interactions. To identify and understand customer preferences, follow these simple yet essential actions:

1. Talk to Your Customers Regularly (Don’t Assume)

As Elite Business Live puts it, “Don’t assume you know what your customers want without asking them.” We couldn’t agree more.

No one is a mind reader. Regular customer conversations are the quickest way to understand what drives their business. Dig deeper to uncover pain points, objectives, and strategic direction. In addition to calls and in-person meetings, track and review feedback and reviews, or conduct targeted surveys.

Consider these guidelines:

• Contact regularly. Create a routine for quarterly or bi-monthly client check-ins. Touch base about future and current needs and priorities.
• Use feedback loops. After a service or product rollout, send a brief survey to get immediate reactions.
• Stay curious. Ask open-ended questions like, “What are your top priorities for the next six months?” or “Where do you see your biggest growth opportunities?”

2. Dig into the Data (Numbers Don’t Lie)

Customer data is a goldmine of insights into behavior and preferences. Knowing how to read these patterns can help brands optimize their services. Start by analyzing key metrics across every touchpoint, such as emails and customer service requests. Is there a spike in unsubscribe rates? Are the open rates declining?

When website traffic is high but conversion rates are low, consider improving landing pages or calls-to-action. Click-through rates, heat maps, and bounce rates can reveal areas you need to improve or optimize—maximize them.

Is there a surge in customer complaints or product returns? If issues revolve around internal processes, it may be necessary to evaluate, redesign, and simplify internal operating procedures.

3. Collaborate on Industry-Specific Case Studies

Joint case studies with customers give brands insight into client challenges, solutions, and success metrics. You’ll gain a behind-the-scenes look at their goals, pain points, and strategies.

Case studies also tell compelling stories that show target audiences you have a proven track record of delivering results. A recent survey by 6sense shows that “85% of buyers have largely established their purchase requirements before they contact sellers.” This means buyers have already researched, checked customer reviews, and read your case studies.

Here’s what to include in case studies:

• Customer background
• Challenges
• Solution
• Results
• Customer feedback

4. Participate in Summits, Conferences, Networking Groups, Thought Leadership Discussions

Attending or organizing roundtables, webinars, and conferences lets companies connect with customers in real time. Start by focusing on industry-specific events. Research the events your clients are interested in and prioritize attending these.

Also consider hosting regular events. Invite clients and other industry experts to share their views, creating a platform that positions your brand as a thought leader.

Pro tip: After each event, follow up with customers through a personalized message that highlights key takeaways. Ask questions, like “What part did you enjoy most?” or What topics would you like us to cover next?”

5. Analyze Competitor Relationships

Identify what products and services your competitors are offering that you’re not, in addition to any recurring pain points clients encounter with those companies. Rather than simply mirroring competitor actions, leverage data tools to find what’s working and what isn’t.

For example, tools like Ahrefs or Semrush can help brands identify top-ranking searches on competitor websites. This data offers insight into the topics and solutions target audiences are actively searching for.

Also analyze competitor reviews, testimonials, and case studies to identify any common complaints or limitations. Use this information to tailor your services or customer support to address these gaps.

6. Partner with a Professional

Sometimes, the most efficient way to gain deep insights into your customers is by partnering with a consultant or agency experienced in your industry. These experts have often encountered the challenges you’re trying to solve. Additionally, consultants offer an objective, external perspective that allows them to see gaps and opportunities that internal teams may overlook.

Equipped with specialized industry knowledge, tailored strategies, and proven frameworks, consultants can conduct independent research and analysis to uncover nuanced customer needs and pain points.

Combine Psychology with Insight

The complexity of the B2B buying process is further complicated by the combination of decision-makers’ psychological and real-world needs. Businesses that consider the customer experience through the lens of psychological needs create unique opportunities to address the emotional and rational motivations every buyer experiences.

When marketers understand these psychological influences and their customers needs, they have a unique opportunity to intrinsically appeal to these factors from the beginning, moving decision-makers efficiently through the buyer’s journey. This approach helps companies modify or develop solutions that resonate meaningfully with target audiences, facilitating stronger relationships, a distinct competitive advantage, and a business that is aligned with evolving B2B customer demands.