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Business to Business Buyer Types

6/23/2022

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This marketing tip is borrowed from the 2 Bobs podcast episode, Selling to Different Buyer Types — 2Bobs.

Consider four buyer types based on the valuing of differentiation and the pain tolerance for price.
  1. Convenience Buyer
    The convenience buyer is willing to pay a higher price, but does not have a high value for differentiating your consulting or advice. This means they value convenience more than quality. For consulting engineering services, the convenience buyer is usually a developer who needs speed and will pay for speed. The convenience buyer may also be a client in need of a quick solution due to regulatory fines or penalties.
  2. Price Buyer
    The price buyer wants the lowest price and does not value your brand of consulting or advice. They only value the lowest price. The price buyer sees the engineer as a necessary evil. They do not value your service, only your seal to get them to the next stage of their project.
  3. Relationship Buyer
    The relationship buyer values your brand of consulting and is willing to pay for that brand. They understand your methods, your culture of helping and appreciate it by paying you what you deserve. The relationship buyer has a high need for consistent and repeat engineering advice and wants the loyalty and trust of a predictable engineering firm.
  4. Value Buyer
    The value buyer only has a low tolerance for higher prices because they have to see a good return-on-investment (ROI). They value good engineering, but will negotiate the price to maximize their ROI. This buyer values your engineering expertise and will pay appropriately for it if you can demonstrate a good ROI.
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Think about several of your clients. How would you categorize them into one of these four buyer types. Which buyer type do you prefer to work for and why? Which type do you not want to work for?

When pre-qualifying a prospective client, consider what type of buyer they may be. Adjust your services accordingly or be willing to walk away if you do not enjoy working for that buyer type!
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Personal Brand: What Is It and Why Is It Important?

6/3/2022

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​A personal brand is the perception a person has of you. Rather than the overall perception of a company, a personal brand is specific to you as an employee of your company. The reason for the elevation of personal branding has to do with the digital capabilities of social media and the ease of building a personal business network that spans geographies. The better you establish your personal brand, the more opportunities you bring to your company. 

​What ingredients make a personal brand?

A brand is simply the total experience people have when interacting with a company. What people feel and experience when they interact with a product or service makes its brand. Therefore, a personal brand is made from
  1. Interaction with you personally,
  2. Experience of you personally,
  3. The emotion elicited when interacting and experiencing you personally.
INTERACTION
Your interactions with others in your professional life are what create your personal brand. Interactions have a specific manner, energy, and frequency. The manner, energy, and frequency of your interactions contribute to what others experience.
EXPERIENCE
As others interact with you, they take away an experience. That experience can range from inspiration to boredom, intimidation to warmth, energized to deflated. How others experience you elicits emotion.
EMOTION
How people feel is a major factor in the decisions they make and how they orient their life. When you interact with others you give them an experience and that experience contributes to their emotions. Those emotions are then connected to you and your personal brand.
To know your personal brand requires you to understand how your interactions are experienced by others and how those experiences make them feel. 

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Why is personal brand important?

Brands build on each other. Professional engineering has a brand. Civil Engineering has a brand. Civil engineering firms have a brand. And each professional engineer has a personal brand. Therefore, your personal interactions give clients an experience. Those clients attribute how that experience makes them feel to you, your company, and your profession. As you can imagine, how you craft your personal brand not only affects you, but also affects your firm and the entire profession.
Realize that every engineer has a personal brand. Ignoring a personal brand does not make it disappear. It does not become irrelevant because you simply do not care. What clients experience and feel when working with you matters. It matters greatly! A personal brand is important for many reasons. Chief among those reasons is the contribution or deficit you create for your firm and your profession.
If you consider your personal brand and intentionally work on the impact you are making on your clients, your colleagues, and society, the greater personal benefit you will enjoy. Here are some questions upon which to reflect to help you establish a positive personal brand;
  1. Do others enjoy speaking with you and seek you out for advice and help?
  2. When you make a surprise visit to a client, are they annoyed or genuinely happy to see you?
  3. Have you worked on listening twice as much as you speak?
  4. Do you work hard at optimism when engineering solutions?
  5. Are you genuinely interested in your client’s organization and its success?

This post was originally published at Personal Brand: What Is It and Why Is It Important? (engineeringmanagementinstitute.org)
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    Author

    Gabe Lett, FSMPS, CPSM, LPC

    Fellow of the Society for Marketing Professional Services

    Certified Professional Services Marketer

    ​Licensed Professional Counselor

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