B2B software matchmaking: G2 aims to empower B2B buyers with peer reviews and real-time insights
Emerging trends show that B2B software buying preferences are changing. Companies are more thorough about new software investments and would welcome as much information as possible to guide buying decisions.
G2.com Inc. streamlines the B2B software buying process with peer reviews and product information, such that a buyer can make informed choices even before contacting a salesperson.
"Our primary mission is to serve the software buyer, give them great insights [and then] connect them to software sellers," said Godard Abel (pictured), co-founder and chief executive officer of G2. "If you're on a site like G2, we always say, you're not there for fun. You're there because you're looking to buy an app or an AI tool to make your business better. Ultimately, the buyers want to connect to the seller."
Abel spoke with theCUBE Research's Rob Strechay at Dreamforce, during an exclusive broadcast on theCUBE, SiliconANGLE Media's livestreaming studio. They discussed G2's mission of simplifying the software buying journey and helping businesses stay ahead in an increasingly competitive market.
G2's broader vision is to consumerize the enterprise software purchase process similar to online commerce platforms such as Amazon.com Inc. As 69% of B2B software buyers now make decisions before even talking to a salesperson, companies must adapt to this change, ensuring their products and services stand out based on authentic reviews and consumer trust, according to Abel.
"One, we help vendors activate their customers to share reviews," he said. "Two, we also give them all kinds of data on consumer sentiment. What are the reviewers saying? What do they love about their products? Where can they get better? We can give them competitive insights. Why are some buyers maybe engaging more with competitor products? What do they like about those products?"
Another key tenet guiding the G2 platform blueprint is trust. Platforms such as Salesforce Inc., IBM Corp. and Oracle Corp. are among the 3,500 software sellers using G2 to build trust and gather reviews. It encourages businesses to activate their existing customers to leave reviews, knowing that software solutions without reviews will not gain traction in the marketplace, Abel added.
"Even more now we're talking about how do you take those reviews, once you have a good customer voice, how do you turn that into revenue?" he said. "I think it's also been a more challenging market for most SaaS vendors the last couple of years. Everyone is looking at how to better engage buyers. How do they more efficiently sell and market? We think the G2 intent signals are one of the best ways to do it."
G2 also gleans buyer intent signals, providing vendors with real-time data on which companies are actively shopping for specific software solutions. The old approach of "spray and pray" marketing -- sending generic messages to potential buyers -- no longer works in today's market, according to Abel. Instead, targeting buyers at the right time with the right message has become essential.
"With our intent signals, for example, we can tell you which companies right now are shopping in the [configure, price and quote software] market," he said. "Obviously, if you're a CPQ vendor, that's when you reach out to them. And most people actually only buy a CPQ app, let's say, every five to 10 years."