INSIGHT How well do you know
your customers? The Buyer Revolution – Navigating the B2B lubricant landscape Tina Reading, Editor
In the dynamic B2B lubricant procurement, a transformative shift is underway. Consumer psychology in the corporate environment, especially in the context of deciding which lubricant supplier to buy from, is a multifaceted and complex topic. When making purchasing decisions, corporate buyers must consider several factors that go beyond just the product itself.
One important aspect is the relationship between the buyer and the supplier. Trust and reliability are crucial in the lubricant industry, as businesses need to be confident that their supplier will consistently deliver high-quality products and provide excellent service. Therefore, suppliers who can establish a reputation for dependability and integrity are more likely to attract corporate clients.
Another key consideration is the perceived value of the product. Corporate buyers are concerned not only with the price of the lubricant but also with its overall value proposition, including factors such as performance, durability, and environmental impact. Suppliers who can effectively communicate the value of their products and differentiate themselves from competitors are more likely to influence purchasing decisions.
Additionally, the influence of branding and marketing cannot be overlooked. Corporate buyers are often swayed by the reputation and visibility of a supplier’s brand. A strong brand image that conveys expertise, innovation and commitment to sustainability can have a significant impact on purchasing behaviour.
Understanding the psychology of corporate buyers in the lubricant industry involves recognising the importance of trust, value, and brand perception. By strategically addressing these factors, lubricant suppliers can better position themselves to appeal to corporate clients and gain a competitive edge in the marketplace.
44 LUBE MAGAZINE NO.179 FEBRUARY 2024
Buyer behaviour in the sales process is changing. According to a recent McKinsey report, the consumerisation of the B2B sales process is complete. Buyers want an omnichannel experience backed by personalisation and delivered through a mix of traditional, hybrid and online channels.
David Wright, Director General, UKLA explains the importance of The Buyer Revolution Project and your participation. “Previously sellers would have been approached once a need had been identified. Today, the buyer could have identified a need, undertaken their own research on you and your competitors, shortlisted some companies, identified some suitable products and even trialled or tested these using digital channels even before they pick up the phone or send an email.
Lube magazine, with the support of UKLA, has partnered with Plan Grow Do to better understand this new omnichannel, personalised and digitised sales process, the impact on buyers and sellers, and how companies can become more aware of the changing dynamic to adapt their sales processes to make the most of the opportunities in the fast changing and evolving lubricants market.
We would encourage you to take part in these short surveys for which participants will receive an anonymised and aggregated summary report on the responses.”
Over the coming months this comprehensive research project, is designed to unravel the intricate layers of the B2B lubricant buyer experience. Our focus centres on empowering the buyer within this evolving landscape, recognising their role as decision-makers and influencers.
Through a series of targeted surveys, we delve into critical aspects that define this revolution, each 10
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