Although consumer spending gets most of the attention, December is also an interesting time for business-to-business marketing. That’s especially true when it comes to pricing and budgets, where two distinct factors are often in play:
1. Some executives need to increase spending. If you’ve been in business-to-business sales for a while, you’ve probably seen this for yourself: Almost unbelievably, some departments, executives, and managers are almost in a rush to spend a little money at the end of the year. Why? In some cases, there could be tax consequences to deal with. Other times, they simply want to ensure that they’ll be afforded the funding they need again next year, so they have to spend now.
2. There are sales to be made if you’re flexible with payment terms. On the other end of the spectrum, a lot of small and medium-sized companies are making plans for the coming year, but don’t have a lot of available cash to throw around. That doesn’t mean you should skip over them altogether, though – offer them flexible payment terms that allow them to pay next year, and you could see a December revenue bump.
As always, there are lots of different kinds of customers – with lots of different kinds of needs and motivations – out there this December. Understanding what they want, and why they are spending, is a good first step towards capturing more orders.