B2B customer acquisition in modern business environment

Abstract

The sales and marketing have experienced a full digital evolution in the last few decades, and the expectations of modern B2B buyers have shifted to a more human direction with two-way communication, personalized service and a more relevant outreach. The procurement process today is more strategic than before, forcing the sales and marketing departments to re-examine their strategy. In order to achieve maximum results, prospecting and customer acquisition processes must be continuously measured and optimized.

The purpose of this thesis is to help the case company expand their operations globally by improving their customer acquisition process. The case company is a Finnish engine manufacturer whose current customer base is mainly comprised of internal customers of the corporation. The theoretical framework of this thesis consists of exploring the current trends and correlating topics in B2B sales, purchasing and marketing, as well as customer journey mapping.

A qualitative study was conducted for this research, and the data was collected from a set of interviews with both the firm's current and potential external customers. The subject areas for the interview questions arose from both the theoretical framework and the wishes of the case company. The research focused especially to the early stages of the customer journey, among studying what the buyers find to be the characteristics of a good supplier, and what would make them switch suppliers.

Results of the research indicate that search engines and company website are the main platforms for searching for information on potential suppliers. They search especially for references and product specifications. The preferred method of contact seems to be email, followed by a face-to-face meeting. Overall, the customers expect to receive good, personal service with real added value where the supplier is proactive and truly collaborative. The main factors leading to change the supplier seems to be constant problems related to products and poor customer service. The results also indicate that the customers expect total service from the supplier instead of mere product sales. The originality of the content in this thesis has been verified using the Turnitin OriginalityCheck software.