Report: 46% of B2B Buyers Turn to Colleagues/Peers to Research Purchases
B2B buyers continue to do their own research before making a purchase decision, and new research shows that colleagues and peers are playing a more important role in the process.
DemandGen and ON24 recently published the “2019 Content Preferences Survey Report,” and statistics showed that B2B buyers overwhelmingly turn to their colleagues and peers (46 percent) to research B2B purchases. This is followed by user reviews (35 percent) and third-party/analyst reports (32 percent).
Interestingly, content such as case studies (28 percent) and industry newsletters (24 percent) were at the bottom of the list. This may be the case because 73 percent of respondents said that they now have less time to devote to reading and research.
On average, B2B buyers consume between three and seven pieces of content before speaking with a salesperson.
Marketing and the Timing of Outreach
While reviews from peers and colleagues may play a critical role in the B2B buyer journey, previous research suggests that timing might also be important for marketers to consider.
DemandGen conducted the “2018 B2B Buyers Survey” and discovered that the first one-to-three months of the buying process are the most critical to getting customers’ attention. By this mark, 38 percent of B2B customers have already developed an informal list of potential service and product providers.
In addition, 46 percent have likely already evaluated which solutions would fit well with existing partners, and 42 percent have collected information on pricing/costs.