Customer Trust: Why It’s Important in B2B Sales

You have a great product and an effective marketing plan, but you are not generating the desired sales figures. Maybe a crucial ingredient is missing – customer trust. However, building customer trust is easier said than done. 95% of CMOs say establishing trust between their brand and the consumer keeps them up at night (BrandKeys).  

Here are four reasons why customer trust is essential in B2B sales: 

1. Customer Trust is the Convincing Factor in Purchasing Decisions  

There is a good chance that your potential customers already know about your product.  Decision-makers only dedicate 17% of their total purchase process to talking to potential suppliers (Gartner). This is because information is readily available at their fingertips – through your website, ads, social media pages, eBooks, reports, and more. The convincing factor to purchase your product is not its benefits or competitive price. It’s the ability to nurture a trusting relationship with decision-makers at every stage of the sales cycle. 

2. Customer Trust Builds Confidence in Your Product

The combination of great customer service and trust will decrease feelings of risk in your customers and make them more confident in purchasing your product. Beyond ROI and numbers, trust is key in helping customers understand the value of your service. In addition, emotionally connecting with your customer is important. Empathize with their challenges and reassure them that your product or service will solve their short-term and long-term needs. As the B2B sales cycle is long, you need to have as many touchpoints as possible with prospects. There is also a high chance you will be interacting with more than one representative – from sales directors to marketing managers to C-levels. 

3. Customer Trust Leads to Rewarding Referrals  

Picture this: You’re on the fence about buying a product but then you hear a close friend raving about it. Are you more likely to buy the product? The answer is most likely yes. Decision-makers feel the same way too. In fact, 76% of C-level B2B buyers prefer to work with vendors that have been recommended by someone they know (IDC). Not only that, 91% of B2B purchasers’ buying decisions are influenced by word-of-mouth (Useful SocialMedia). Customers who trust your business are more likely to refer your company to their peers, expanding your customer base organically.  

4. Customer Trust is Essential in the Era of Online Purchases  

In the current digital-first world, it’s no surprise that more decision-makers are making purchases online. According to a survey, 89% of decision-makers have made an online purchase since 2020 (Avionos). However, this does not mean that they are happy with the services provided by suppliers. In the same survey, 45% of decision-makers encountered pain points when interacting with sales representatives. Additionally, 77% of C-levels stated that their last purchase was complex and difficult (Gartner). With higher expectations for virtual buyer experience and supplier relationships, customer trust is paramount.