A good B2B reputation is vital. Whether it’s with those you do business with or those who share your sector, a bad B2B reputation will mean you won’t be able to function and your business will fail. It really is that simple.
Many understand that customer service and an easy purchasing process are the key external elements for establishing a strong B2C reputation. However, there are many unnoticed B2B elements that could easily undo your hard work.
Here are my top five tips for excellent B2B reputation.
Don’t agree to things you can’t deliver
Trying to tempt new clients by promising to do everything they need can have disastrous consequences when you can’t deliver.
Don’t pretend to be an expert in what your client is after and don’t take on work you don’t have the resources for.
Say “no” and you can build upon your early relationship when the time is right. Saying “yes” and delivering terrible service will destroy any chance of working with them, or people they talk to, again
Establish a social media policy for staff
There really is nothing wrong with your employees being on social media. However, you need to establish a code of conduct so they know how you expect them to behave if they’re publicly listed as an employee.
If you’re not sure how to establish a social media policy yourself, then an agency can help you set one up to make sure there is no confusion about what is acceptable and your reputation is protected.
Pay invoices on time
No one likes paying bills but if someone has provided your with a service or materials you must pay their invoices on time.
Many accounting teams pay invoices late to help their own cashflow look healthy but this can have a massive impact on your suppliers. This impact is taken so seriously that under UK law a late invoice can incur interest at the Bank of England base rate + 8%.
However, while late invoices might cost you more in the long run, dissatisfied suppliers could also tell others in the sector about your lack of prompt payment. This not only risks your B2B reputation but it could also disrupt your supply chain.
Be transparent
Much of what many businesses is commercially sensitive. However if you’re an organisation that works on behalf of others, particularly for a fee, then details about how you spend your customers’ or members’ money must be made available.
Clarity is key and if the perception is that you’re not working in their best interests a bad B2B reputation, even if it’s not justified, will follow.
Better to quell rumours with the truth and listen to constructive feedback than to let gossip through lack of knowledge damage your reputation unnecessarily.
Keep to agreed deadlines
Deadlines are vital and if you don’t keep to them the knock on effect can be devastating.
Of course sometimes deadlines do need to be changed, so if there is going to be a delay speak to your client about it at the earliest convenience. Clear communication about possible delays keeps your client informed and can settle any problems before they begin.
Bonus: Network and learn
OK, so this is a sixth tip, but consider it a reward for reading this far.
Talk to other businesses in your sector, network with them and establish an attitude that you’re all working for the greater good of your sector.
It’s amazing how often I find SMEs hell-bent on ignoring the competition and refusing to learn from them or do business with them.
Don’t just look at how they conduct themselves and learn from their own best practice (if any), but also establish a relationship to help each other out.
In the brewing trade, brewers were always borrowing beer ingredients from each other or offering support to competitors if needed. They recognised it was all for the good of the trade and it created an excellent sector to work for.
This mutual back-scratching can easily be established in all sectors.
If nothing else, if you have a professional relationship with a competitor, they may well recommend you if they’re at capacity, helping you to establish and grow your business.
If you’d like to learn more, then Hutch PR can help you develop strong two-way communication with your clients, customers, members and competitors to support your B2B reputation.
Get in touch to find out how.
