What qualities make a buyer willing to conduct business with a vendor?
Three highly valued traits in business relationships are trust, personal relationships, and responsiveness, according to a recent Marketing Charts report and data from a LinkedIn study of more than 6,000 B2B buyers, marketers, and salespeople employed at mid-sized and enterprise companies.
Strong buyer-vendor relationships have:
- Trust between the purchaser and vendor
- Personal relationship between the parties
- Responsiveness in communication
- Willingness to participate in a product demo
- Sellers who are subject matter experts or thought leaders
- Valuable consultation, education or tools provided by vendors
- Demonstrated knowledge of the company’s products, services and business model
Weak buyer-vendor relationships have:
- Lack of responsiveness
- Disagreement on financial terms
- Inadequate speed of delivery
View our infographic below to learn more about the buyer-vendor relationship: