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B2B marketing is a complex and multifaceted process. Forbes states that 57% of B2B buyers are now relying on online research rather than getting in touch with a sales person.1
As a way to use the power of digital transformation in marketing, review platforms are important in reaching potential clients and constructing brand awareness. In this article, we will explain the importance and benefits of review platforms for B2B companies and provide useful steps for a review platform strategy.
What is a customer review site?
A customer review site in the B2B world is a platform where businesses can share their experience and opinion about products, services, and vendors they have interacted with. Online reviews help other businesses make informed purchasing decisions. B2B customer review websites can cover a range of industries, such as:
- Business software products
- Manufacturing services
- Supply chain management products
The goal of these sites is to provide relevant and trustworthy information to businesses to help them choose the right partners and suppliers.
G2, TrustRadius, Capterra, Software Advice are famous examples to a community focused review site for B2B products. These platforms help enterprise software buyers to purchase confidently.
Why are customer reviews important for B2B companies?
A B2B buyer journey is a process the potential customers goes through before making any purchase. For 77% of buyers, the buying process becomes more difficult with each new purchase.2
According to Gartner, online reviews are important in facilitating the customer purchasing journey.3 Especially for new generations, online research with client reviews about the product becomes a key factor in the buying process compared to more traditional methods (see Figure 1). For instance, a study found that 8 in 10 millennials won’t make a purchase unless they have read a review.4
Figure 1. Generational change in the buyer’s behavior
Source: TrustRadius
Top 5 benefits of customer review sites for B2B companies?
1- Ensure trust and credibility
Customer reviews help establish trust and credibility for a service provider. Other businesses can see what others have experienced and make a more informed decision about whether to work with them.
2- Improve decision-making process
B2B purchases are often more complex and involve a larger investment than B2C (business-to-consumer) purchases. Customer reviews can provide insights into the quality and reliability of products and services, allowing buyers to make more informed purchasing decisions.
3- Get market insights
Customer feedback through online reviews can provide valuable market insights into the needs and preferences of different business segments. This can help vendors and suppliers better understand their target market and make improvements to their offerings.
4- Manage brand reputation
Positive customer reviews can also be used to manage a company’s reputation. Businesses can proactively manage their online reputation by responding to reviews and addressing any concerns raised by customers.
5- Increase visibility and brand awareness
B2B customer review sites often rank highly in search engine results, making it easier for businesses to find potential vendors and suppliers. This increased visibility can help businesses attract new customers and generate more leads.
What should be a vendor’s strategy in the review platforms?
1- Know your market, target audience, and competitors
Before jumping into a review site, you should know your market, target audience and your competitors correctly. This will be the starting point at deciding which platforms to use and how you will use them.
2- Understand the platforms and their functions
Not all review platforms are equally relevant for all B2B companies. It’s important to research which platforms are most relevant for your target audience and industry.
3- Maintain a consistent brand image
Make sure your brand image is consistent across all review platforms. This includes using the same logo, language, and tone of voice in all of your responses.
4- Encourage users to leave a review for your service/product
Encourage your customers to leave positive reviews on the platforms you’ve identified as important. You can do this by directly asking them for a review or by making the process of leaving a review as easy as possible.
5- Check and respond to the reviews for your service/product
Regularly monitor your online reputation on review platforms and other websites where people may be talking about your company. This will help you stay informed about what people are saying and take action as needed to address any negative comments or reviews.
Also, make sure you respond to all valuable reviews, both positive and negative reviews, in a timely and professional manner. This shows that you value the opinion of your customers and are committed to providing excellent service.
Moreover, you should control the authenticity of the reviews to prevent fake reviews.
6- Expand your review range with incentives
Generally, having very few reviews online can affect your trustability negatively. You should aim to have more recent customer reviews. There can be several ways for businesses to incentivize customers to leave reviews for their products, such as:
- Offering a discount or coupon
- Running a contest or giveaway
- Providing good customer service
- Facilitating the review process
- Showing appreciation for the reviews
7- Use review platform data to inform business decisions
Use the data from review platforms to inform key business decisions, such as product development and customer service improvements.
If you have questions or need help in finding vendors, feel free to reach out:
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- “Inside the Mind of the B2B Customer.” Forbes, 10 August 2022, https://www.forbes.com/sites/blakemorgan/2018/03/08/inside-the-mind-of-the-b2b-customer/?sh=7a551d4932cd. Accessed 13 February 2023.
- “The B2B Buying Journey | Sales Insights.” Gartner, https://www.gartner.com/en/sales/insights/b2b-buying-journey. Accessed 13 February 2023.
- “B2B Software Buyers Using Reviews for Purchase Decisions.” Gartner, 29 June 2022, https://www.gartner.com/en/digital-markets/insights/how-b2b-software-buyers-use-reviews. Accessed 13 February 2023.
- “Most millennials only purchase items with online reviews, study finds.” The Independent, 8 March 2018, https://www.independent.co.uk/news/business/millennial-online-review-products-research-internet-trusted-recommendations-a8245781.html. Accessed 13 February 2023.
Cem has been the principal analyst at AIMultiple since 2017. AIMultiple informs hundreds of thousands of businesses (as per similarWeb) including 55% of Fortune 500 every month.
Cem’s work has been cited by leading global publications including Business Insider, Forbes, Washington Post, global firms like Deloitte, HPE and NGOs like World Economic Forum and supranational organizations like European Commission. You can see more reputable companies and resources that referenced AIMultiple.
Throughout his career, Cem served as a tech consultant, tech buyer and tech entrepreneur. He advised enterprises on their technology decisions at McKinsey & Company and Altman Solon for more than a decade. He also published a McKinsey report on digitalization.
He led technology strategy and procurement of a telco while reporting to the CEO. He has also led commercial growth of deep tech company Hypatos that reached a 7 digit annual recurring revenue and a 9 digit valuation from 0 within 2 years. Cem’s work in Hypatos was covered by leading technology publications like TechCrunch like Business Insider.
Cem regularly speaks at international technology conferences. He graduated from Bogazici University as a computer engineer and holds an MBA from Columbia Business School.
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