Study: B2B Can Better Compete With Customer Focus

Compiled ByDeborah Austin Unlike dot.com overspending on flawed business-to-consumer marketing, online B2B boasts the opposite defect: little or no marketing, suggests a recent study by Chicago-based consulting services firm Accenture. Many firms have rushed for first-mover advantage without understanding what drives online B2B brand value, suggests the study titled "Was it an illusion? Putting more B in B2B," which explores online purchasing decision-makers' preferences and myths. Key finding: A reputable brand is the most important buyer preference, hands-down. "You can't compete in B2B if your only differentiation is price or any of the other four Ps of marketing for they are mere commodities (product, promotion, and place of distribution)," says Stephen Dull, study author. "Focusing your attention on the customer is where companies will rise above the noise."