Social proof in B2B sales

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A post from the POLISH YELLOW PAGES® blog (formerly DATABOT.PL), originally published on 17.11.2022. Some information (tools, prices, regulations) may have changed since then.

How to use the advantages of social proof (and avoid the pitfalls!)

In the eyes of most B2B customers , advertising and marketing long ago lost their role as credible, reliable advisers. What’s more, modern forms of decision-making are now in the spotlight. Social proof is one such method that B2B suppliers now consider increasingly important.

There are several reasons why buyers in B2B choose a particular product or service. If it meets a need and is therefore the undisputed market leader, the decision is easy to understand.

If there is  competition between suppliers, different features and their individual weight can also influence the decision. Apart from  terms and prices , it is difficult, especially in B2B, to compare offers reliably without excessive  effort,  and therefore to make a decision. Relying on  recommendations  from one’s social circle when making purchasing decisions has always been the norm in B2C. But how does it work in B2B? 

What is social proof in B2B?

Social proof is an umbrella term for ratings, success stories, reviews and all kinds of assessments and evidence provided by customers or prospects who know and use your product or brand. Many decision-makers look at review platforms before buying and check what competitors recommend or use.

That is why for many companies referral marketing is an important part of their sales strategy. Over recent decades the forms of social interaction have changed, above all  because of the internet. This has also changed the opportunities to take into account the individual experiences of users of a product or service in one’s own decision-making.

With  Social Proof interested parties rely above all on independent information they can find online about products and suppliers. This in turn has a significant influence on their purchasing decision . 

Source:  www.g2.com

How does social proof work in B2B in practice? 

If you are interested in a product or service, there are various ways to get information. The characteristics, quality and usefulness of a product or service must be examined in terms of  individual needs . A free trial to test it yourself is not always possible and often  involves effort and cost. Advice from the service provider is rarely objective.

Our tip: take a free trial or a free trial month of the product to see how it works and whether it is what you are looking for.

That is why decision-makers in B2B often look for  independent information  provided by specialist media. When such information is not available to help with the decision, interested parties increasingly turn to various forms of social proof. You can use social proof as experience reports  , to gain practical insight into how a product really works.

What types of social proof are there?

Social proof can be found in various forms, mainly online. You may know these types:

• Customer ratings on supplier websites or platforms (trust symbols) 
• (B2B) influencers (recommendations) presenting and reviewing a product/service
• Case studies/success stories 
• Likes, shares and followers on social media 

Ratings can be found both for specific products or services and for their suppliers in general. A rating can be a score on the one hand, and on the other given as stars or individual reviews . Often both forms of evaluation are combined. For a rating, an average of all the ratings given is usually calculated. 

How do customers use social proof in B2B?

Any form of independent research into a product or service can influence the purchasing decision. For example, the mere existence of reviews is an initial safeguard for interested parties against dubious offers. 

Reviews on independent platforms can also provide specific warnings about dubious suppliers or point to problems that occur increasingly often. Social proof is above all a valuable complement to product advertising and manufacturer specifications. Offers are assessed from the user’s point of view, so in addition to factual features, their strengths and weaknesses in practical use are presented. This can concern the product or service itself as well as cooperation with its supplier.

Source:  www.devrix.com

How to use social proof actively? 

Social proof can arise without the supplier being reviewed having any chance to influence it. Social media in particular is a source of informationthat is hard to control. However, there are certainly forms of social proof that companies actively use and can influence at least to a limited extent.

As already mentioned, influencer reviews and expert assessments in specialist media can often also be regarded as social proof. Companies can, for example, integrate positive reviews from certain review platforms (such as G2 ,  Capterraand others in the SaaS space) on their landing pages, on social media or in other channels.

Public relations and influencer marketing try to actively shape these formatsin order to position the company and its offer in line with corporate strategy.

Case studies and user reports are also popular ways of simulating independent assessment as part of a content strategy. In addition, companies can let their customers rate their work and use the ratings in their own marketing.

Reviews,  ratings and likes and comments from social media can be published on the website and used in other marketing and advertising formats.  

Source:  www.marketingcharts.com

What are the pros and cons of social proof in B2B?  

For B2B companies, social proof is one way of winning customers in the short term. On the other hand, strategic use of a variety of formats can help build a long-term image.

At the same time, however, social proof also carries risks that should not be underestimated. Wherever ratings are given by independent users , their content can of course also be negative. Sometimes reviews are even used to discredit an unpopular company.

That is why social proof involves necessary effort for  companies  – even if they don’t use it actively.

Relevant online formats that may contain information about a company must therefore be closely monitored. Only in this way can you ensure that attention is not drawn to developments that may have a negative impact .

Only those responsible in a company who learn about negative social proof at an early stage can plan and implement measures to counter it appropriately. This should not be a general attempt to suppress negative opinions. Checking and questioning reviews always offers a chance to understand justified criticism and to work on eliminating its causes for good.

Social proof in B2B and artificial intelligence 

Companies need technology to respond properly to the phenomenon of social proof. Only then can companies monitor the flood of information available online and filter it for their own business. In the era of big data, manual research no longer allows all relevant sources to be monitored smoothly, including ones the company may not even know about.

Artificial intelligence, based on machine learning, is suited to automating many tasks to a large extent. Such systems search the internet based on relevant key terms and thus deliver important information that could otherwise easily be missed.

Conclusion: social proof in B2B works!

Social proof is a new term for an old phenomenon : people prefer to orient their actions and decisions towards their social environment. Thanks to the internet, this social circle, and with it the influence of social proof, has grown significantly.

Anyone who wants to form a picture of a company and its products and services today does not rely only on information from the company itself. As a rule, customers also rely on the opinion of others, which seems independent, and therefore neutral.  

Social proof is both an opportunity and a risk for companies. Including it in the communication strategy makes it possible to shape the company’s image positively. Social proof also has an underestimated importance throughout the customer journey and as support in the sales process – positive ratings can be used actively to give (potential) customers a good feeling and see them through to the end.  

At the same time, companies are urged to keep a constant eye on the corporate image created by social proof and to act as quickly as possible to counter the threat of reputational damage . 

Tags: B2B, B2B sales, Social proof, Recommendation, Strategy, Distribution

What do you think?

Which ways of winning customers work in your business? Tell us in the comments below the post.

Source

• POLISH YELLOW PAGES® (databot.pl) – original blog post

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