10 Latest Key Insights And Stats From ‘How The Pandemic Transformed B2B Buying’ 2022!
10 Key Insights And Stats From ‘How The Pandemic Transformed B2B Buying’ Report by Forrester 2022!
Forrester’s latest B2B Buying Survey revealed how the pandemic shaped B2B purchasing and amplified long-term trends that already were in play.
Buyers now exercise more due diligence than ever before, conducting more research and engaging in more conversations with vendors and third parties. More people are involved in today’s buying process as well, with executives playing a greater role than in the past - Forrester
1. The average number of buying interactions — online research, conversations with providers, and other steps taken to learn about offerings or vendors — jumped nearly 60%. Buying interactions increased from 17 (2019) to 27 (2021).
2. Online, self-guided buying interactions continue to grow at a faster pace than human interactions. Self-guided interactions increased from 9 (2019) to 15 (2021). Human interactions increased from 8 (2019) to 12 (2021).
3. The share of buyers who found both human and self-guided interactions helpful during the buying cycle rose by 20 percentage points since before the pandemic. Buyers who found human interactions valuable increased from 35% (2019) to 55% (2021). Buyers who found self-guided interactions valuable increased from 33% (2019) to 53% (2021).
4. In recent years, purchasing decisions involving multiple people and departments have become more common, while the simplest scenarios, involving just one or two people, have dwindled. Highly complex buying scenarios increased from 24% (2017) to 43% (2021). Simplest buying scenarios decreased from 41% (2017) to 18% (2021).
5. Executives, finance, and IT — groups that cut across functions — are most often involved in B2B purchases. Executives increased their role as decision-maker increased from 58% (2017) to 75% (2021). Finance increased their role as decision-maker increased from 35% (2017) to 51% (2021). IT leaders held steady in their decision-making role (2017 & 2021): 63%
6. Provide a mix of digital content assets, including case studies, articles, reports, and interactive tools to reach buyers who are seeking information online.
7. Prioritize enabling not only sellers, but also customer success managers, product managers, engineers, and other roles that discerning buyers are keen to speak with.
8. Understand who is in your target buying groups and which members have the influence and/or authority to sway the purchase decision.
9. Cultivate strong relationships with influencers such as industry analysts and publications.
10. Build a robust customer advocacy program.
A keen understanding of buyers is foundational to marketing success - Forrester
By the way, if you are interested, you may access the complete Forrester Survey Report here.
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