Survey: B2B Marketers Working Against Longer Buying Cycle
As B2B marketers look to fine-tune the way they reach out to customers and prospects, new research suggests that B2B buyers are taking more time to think about potential purchases.
DemandGen recently published its “B2B Buyers Survey Report,” and statistics showed that for the majority of B2B buyers (38%), their purchase timeline has stayed the same. However, 34% claimed that it has “increased somewhat,” while 21% say that it has “increased significantly.” This indicates that B2B buyers are taking their time when it comes to evaluating their options.
With that point in mind, B2B marketers may want to consider the top five variables among B2B buyers evaluating solution providers. For example, most buyers (82%) claim that pricing is their top variable. This is followed by features/functionality (60%) and reviews (58%).
Reaching Out to More B2B Buyers
Previous research has shown that there are several concerns, wants and needs among B2B buyers. If B2B marketers address them, they may be able to grow their customer base.
The RAIN Group recently revealed data from 528 buyers and sellers across the Americas, EMEA and APAC on why B2B buyers make specific purchase decisions. Data indicated that the highest influence on buyer purchase decisions was when marketers addressed concerns, wants and needs (71%).
Showing customers what’s possible or how to solve a problem (68%), and listening to customers’ pain points (68%) also influenced purchase decisions. By addressing these aspects, B2B marketers might be able to expand their reach.