B2B Buyer Behavior Survey Report
DemandGen released the B2B Buyer Behavior Survey. While new crown pneumonia has caused 47 per cent of B2B buyers to postpone purchases because of budget freezes, another 3 in 10 respondents said they had upgraded some purchases because of changes in business needs. Moreover, more than 77% of buyers spent more time researching products than last year.
Sixty-eight per cent of B2B buyers surveyed said their buying cycle was longer than a year ago. According to respondents, the most common schedule is 1-6 months of the entire purchase process.
Where is the location of the vendor's website?
While spending more time researching purchases, buyers are using more resources to research and evaluate (73 percent). While 53 per cent of buyers use web search as one of the top three resources for research purchases, 41 per cent also turn to supplier websites.
In addition, 70 per cent of buyers said that direct dialogue with the company was a very important aspect of access to potential vendor websites.
As B2B buyers significantly increased their use of digital content such as executive summaries, landing pages and brochures, the majority of respondents (54 percent) also attached great importance to sites with thought-leadership content, such as white papers and research.
The reason for selecting the winning vendor
Features/features (73%) and pricing (72%) topped the list of five most important variables used to evaluate the list of solution providers. However, when it comes to choosing a winning supplier, 69 per cent of buyers cite the supplier's knowledge of the solution and business landscape as the preferred factor, while 65 per cent of respondents cite the supplier's deep understanding of the buyer's company and its needs.
Buyers' choice of supplier-provided content makes it easier to build good business cases (62 percent), higher quality (55 percent), and is an important part of helping them through every stage of the decision-making process (52 percent).
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