How do business buyers make their buying decisions? Is that choice determined by a cost-benefit analysis with rational criteria? Or, since business buyers are humans, do other less rational factors play a role?
To answer this question, Bain & Company analyzed three decades of research performed for their clients. They identified 40 distinct elements of value for business-to-business (B2B) buyers. Some elements are clearly rational and relatively easy to quantify, while others are more subjective and harder to measure.
Like Bain’s previous research into elements of value for consumers, which I wrote about here, these elements can be arranged in a pyramid with the less valuable elements forming a base at the bottom and the most valuable elements at the top.