Have customers tout your company’s distinct benefits
Hey, you. Person in charge of your company’s marketing. B2B marketer extraordinaire. You’re good at what you do. And I think one reason you stay ahead is you’re always on the lookout for the next best marketing trend. A better way to get more leads, gain more customers, you know, make more sales.
But there’s a marketing tactic you’re not using.
Or not using enough.
Customer testimonials, a form of social proof.
Why use customer testimonials?
They’re versatile and unique to your company.
“Testimonials are sought and selected by you. This means you have full control over which testimonials are used, as well as where and how they are displayed.” Sujan Patel, owner of five SaaS companies
Why you need testimonials
1.) In a 2017 study by Heinz Marketing and partners, they wanted to learn how both B2B buyers and sellers use consumer reviews. Survey results, 92.4% buyers said they are more likely to purchase a product or service if they had read a trusted review about it. G2 Crowd
2.) However, only one out of five B2B companies are currently using testimonials of their company in their marketing strategy. G2 Crowd
Customer testimonials are a positive force to increasing your sales. A customer knows when you recommend a product or service, you have an undeniable bias – you’re in the business of making money.
If another customer sings your praises, buyers pay attention. Because what a customer says about you is true. True in the eyes of the buyer, that is.
What’s the hold up?
So why aren’t marketers in B2B using testimonials more?
Web consultant, Marie Dean, says business leaders are hesitant to capitalize on using testimonials because we prioritize measuring the results from doling out dollars for advertising or other marketing expenses instead.
And maybe the hurdle is inertia to create a system of retrieving testimonials. Perhaps we don’t know what to ask our customers. But let’s focus on why testimonials are worth the investment of time and effort. Reading dozens of articles on the topic, I’ve curated information that may enlighten you.
The benefits of using customer feedback
3.) Displaying reviews can increase conversion by 270%. The research showed a high-end gift retailer discovered when reviews of a product were shown, sales shot up significantly. Spiegel
4.) The purchase likelihood for a product with five reviews is 270% greater than the purchase likelihood of a product with no reviews. Spiegel
But is five reviews the lucky number?
Well, your audience may need more testimonials to be convinced, especially if the product is higher-priced. A customer lingers longer in the consideration stage when the purchase requires more money. He needs to see the benefits. The classic question he asks is “What’s in it for him?” Just like you want to see the benefits of using testimonials.
How many testimonials a customer reads may make the difference. In researching how buyers shop for local products and services, BrightLocal has a number.
5.) According to BrightLocal, for the last three years running, they’ve found that the average consumer reads 10 reviews before feeling a business is trustworthy. BrightLocal
I’ve read other statistics stating more or less. So the number of testimonials is not the only factor. Recent testimonials matter. Having 10 recent testimonials is more effective than 20 testimonials given four years ago.
How recent do the reviews need to be?
Again, BrightLocal has a statistic on local shoppers.
6.) 6% of consumers say they only look at reviews from the past three months, while 73% say customer reviews must be from the last month to influence their choice to use a local business. BrightLocal
Why customers prefer testimonials
You might wonder how customer testimonials stack up against other forms of social proof.
7.) Comparing to case studies, testimonials were:
- More authentic
- Trustworthy
- Balanced
Although the following is for B2B software purchases, these advantages apply to B2B businesses too.
8.) In B2B software purchases, user reviews were considered:
- Easy to consume
- Personal
- Reflective of the real-world user experience
- Effective in multiple stages of the buying process
What do you think? Are you a little more enthusiastic about testimonials? Now’s the time to revisit them.
Extract customer testimonials out of your B2B marketing bag. Employ this adaptive tool. Express the distinctive benefits of your B2B products and services from a perspective other customers are likely to believe: your customer!