Trust is defined as “the firm belief in the character or truth of someone.” Trust is essential in business relationships because it provides a sense of security and safety when dealing with individuals or organizations. Historically, B2B Buyers researched equipment Buyers relied on the representations of manufacturer/distributor salespersons, vendor supplied references or 3rd party publications (i.e. magazines etc.). If they were lucky, the recommendations of a familiar source; perhaps another chef they knew or someone they had previously purchased equipment from (aka “their guy” — or gal as the case may be). However trust was often hard to come by. Research into B2B Buyer mindsets reveals Sales & Marketing were the least trusted departments in an organization. The inherent positive bias in a company’s own product raised doubts in the minds of B2B Buyers.

Today’s B2B Buyers spend more time researching and make use of more resources to evaluate purchases than in the past. The most valuable research? Peer experiences and Product Ratings/Reviews. Even in the world of Foodservice which can be a little behind the times in terms of business evolution (as opposed to culinary), FES Magazine’s 2018 E&S OPERATOR PURCHASING STUDY, 79% of operators rely on their own research when it comes to purchasing decisions. The top 4 sources cited by operators when researching equipment?

• TRADE SHOWS
• TRADE PUBLICATIONS
• MFG WEBSITE
• PEERS

As Trade Shows have been impacted by the Pandemic, Peer Reviews will become even more relied upon.

B2B buyers see trusted reviews as mission critical to their research and evaluation process. More than 9 out of 10 B2B Buyers are more likely to purchase a product or service if they have been able to read a trusted review about it. But what constitutes a “trusted” review?

The earmarks of a trusted review include:

• # of Reviews (11–20 reviews)
• Primacy (0 to 3 Months)
• Good Mix of Positive & Negative Reviews
• Easy to Understand & Navigate
• Significant Amount of Data to Review
• Review Based Rankings

It’s important to note that negative reviews are an important trust element. Negative reviews add an element of credibility to the review and provide insights that help B2B Buyers make an informed decision. In fact, B2B Buyers are very skeptical of “perfect” reviews. The vast majority of B2B Buyers suspect censorship or fake reviews when they don’t see negative reviews. As a result, negative reviews are 2 times more likely to be read than positive reviews.

Billy Joel was right. It’s always been a matter of trust.

Mathew Mandeltort
Co-Founder
ChefWorthy
www.chefworthy.pro

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[1] Source: G2 Use Reviews to Transform Sales, Marketing, Product & Experiences June 2020
[2] Source: G2 Use Reviews to Transform Sales, Marketing, Product & Experiences June 2020
[3] Source: TrustRadius 2019 2B2 Buying Disconnect Report