How to make buying from you a less risky business

1. Use peer group validation

A user’s recommendation is always far more convincing than anything that any sales or marketing person or even industry expert can say. Peer group validation packs a punch in building trust, so it’s important that you make good use of third party opinions.

It has also been proven that the earlier you can put customer reviews, case studies or testimonials in front of a prospect, the greater your chances of gaining their commitment.

“If you can show prospects testimonials from recent satisfied customers with the same risk profile as them, even better,” says AdStorm director, Rob Frost. “Seek references from individuals involved with purchasing your product or service and pair them up with prospects in the same industry or having a similar buying remit.”

2. Get inside your buyer’s head

“If you want to establish trust, you need to appreciate where today’s B2B buyers are coming from psychologically and emotionally,” says AdStorm director, Rob Frost. “Bear in mind the possible repercussions of their making a poor purchasing decision: Business performance could be impaired; the company could gain negative PR; customer loyalty could diminish and on a personal level, buyers risk looking incompetent, letting the team down and possibly even getting fired. There can be a lot at stake.”

By understanding buyer fears better, you will be more proactive and effective at allaying them.

3. Take it steady, Eddie

As with most things, you need to walk before you can run. Prospects generally prefer to commit bit by bit, rather than to dive straight in with both feet. Building trust takes time, so if you take a methodical, step-by-step approach to relationship and trust-building, your chances of success will increase.

Attracting prospects to your website may be the first step. If your creativity, content and graphic design exude quality then you may gain enough trust for them to part with their email address in return for a download, or to sign up for an e-Newsletter. If your communications are of interest to them, they may take your calls and discuss business issues.

After a few conversations you may be able to arrange a meeting, and follow it up with a working session, free consultation, complimentary audit or free trial of your product,” says Rob.

“Of course you should get the biggest commitment you can,” he continues, “ but most often small commitments are easier to gain and trust will increase at every stage.”

4. Address high-risk with risk-reducing offers

No business buyer is readily going to part with large amounts of budget and make a high-value purchase, especially if they have no existing relationship with you as a vendor or supplier, or you’re a newcomer to the market.

“You can lower the perceived risk of opting for your product or service by using a teaser offer, a time-limited discount, or as I mentioned, a free trial period. This will encourage positive interactions with, and build trust in your brand,” says Rob.

5. Give the big boys a run for their money

As we all know, nobody ever got fired for buying IBM. But we can’t all be IBM. If your name isn’t on the list – or you don’t happen to be a known, market-leading brand – you can still compete.

How? “By positioning your business as a credible contender,” says Rob. “This can be achieved by educating your target audience in the ways in which your product or services will benefit them via a well-conceived marketing programme; or building relationships with prospects through effective lead nurturing.

“Publishing white papers, posting blog entries and even using industry chat forums can help boost your credentials and establish your business as a thought-leader. Aim to become their trusted advisor.”