Emerging trends show that B2B software buying preferences are changing. Companies are more thorough about new software investments and would like to receive as much information as possible to guide purchasing decisions.
G2.com Inc. streamlines the B2B software purchasing process with peer reviews and product information, so a buyer can make an informed choice before even contacting a vendor.
“Our primary mission is to serve the software buyer, give them great insights (and then) connect them with software sellers,” said Godard Abel (pictured), co-founder and CEO of G2. “When you’re on a site like G2, we always say, you’re not there for fun. You’re there because you want to buy an app or an AI tool to improve your business. Ultimately, buyers want to connect with the seller.”
Abel spoke with Rob Strechay from CUBE Research on Dream Powerduring an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed G2’s mission to simplify the software buying journey and help companies stay ahead in an increasingly competitive marketplace.
The consumerization of B2B software purchases
G2’s broader vision is to consumerize the enterprise software purchasing process, similar to online commerce platforms like Amazon.com Inc. With 69% of B2B software buyers now making decisions before even speaking to a salesperson, businesses must adapt to this change and ensure their products and services stand out based on authentic reviews and consumer trust, Abel said.
“First, we help vendors activate their customers to share reviews,” he said. “Second, we also give them all kinds of data about consumer sentiment. What are the reviewers saying? What do they love about their products? Where can they improve? We can give them competitive insights. Why might some buyers engage more with competitor products? What do they like about those products?”
Another key principle guiding the G2 platform blueprint is trust. Platforms such as Salesforce Inc., IBM Corp. and Oracle Corp. are among the 3,500 software vendors that use G2 to build trust and collect reviews. It encourages companies to activate their existing customers to leave reviews, knowing that software solutions without reviews will not gain traction in the market, Abel added.
“We’re talking more now about how do you use those ratings, how do you make those sales once you have a good customer voice?” he said. “I think it’s also been a more challenging market for most SaaS vendors over the last few years. Everyone’s looking at how do they better engage buyers. How do they sell and market more efficiently? We think G2 intent signals are one of the best ways to do that.”
G2 also collects buyer intent signals, providing vendors with real-time data on which companies are actively seeking specific software solutions. The old approach of “spray and pray” marketing — sending generic messages to potential buyers — no longer works in today’s marketplace, Abel said. Instead, targeting buyers with the right message at the right time has become essential.
“With our intent signals, we can tell you, for example, which companies are shopping in the (configure, price and quote software) market right now,” he said. “If you’re a CPQ vendor, that’s obviously when you reach out to them. And most people really only buy a CPQ app once every five to 10 years.”
Here’s the full video interview, part of SiliconANGLE and theCUBE Research’s coverage of Dream Power 2024:
Photo: SiliconANGLE
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