PROFESSIONAL DEVELOPMENT
The Buyer Revolution – Summary of survey results
Steve Knapp,
Plan.Grow.Do.
Plan.Grow.Do., Lube Magazine and the UK Lubricants Association (UKLA), have been collaborating on “The Buyer Revolution” research programme consisting of 6 surveys conducted during 2024.
This comprehensive study delves into over 1,000 data points across the lubricants value chain, marking the first extensive examination of buyer behaviours and requirements in this sector.
By analysing the layers of the lubricant buyer experience, this research aims to provide actionable insights for suppliers and stakeholders, enabling them to navigate the evolving landscape of omnichannel, personalised, and digitised sales processes.
Solve your own problems In the lubricants industry, buyers are increasingly proactive in addressing their challenges. With the vast amount of information available online, approximately 75% of buyers have made their purchasing decisions before even contacting a supplier. This shift indicates that buyers are conducting extensive research to solve their own problems, seeking out detailed product information, performance data, and user reviews. They value resources that empower them to make informed decisions independently. As a result, suppliers must ensure that comprehensive and easily accessible information is available online to meet this demand. By providing in-depth guides, case studies, and transparent data, companies can
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cater to the self-sufficient nature of modern lubricant buyers, positioning themselves as valuable partners in problem-solving.
Speed of response In the lubricants sector, the speed of response has become a critical determinant of buyer satisfaction. Buyers, juggling multiple responsibilities, often have limited time to engage in prolonged procurement processes. They expect prompt answers to inquiries and swift resolutions to issues. A delayed response can lead to frustration and may drive buyers toward more responsive competitors. Therefore, companies must prioritise rapid communication, leveraging digital tools such as chatbots, instant messaging, and automated email responses to meet this expectation. Implementing efficient customer service protocols ensures that buyers feel valued and heard, fostering trust and loyalty. In an industry where time is a valuable commodity, a company’s ability to respond quickly can significantly influence purchasing decisions and long-term relationships.
People or brand The reputation of a brand and the people behind it plays a pivotal role in the purchasing decisions of
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