How B2B Buyers Are Making Purchasing Decisions

B2B buyers habits have changed
The last 18 months have dramatically altered B2B decision-making – not just today, but permanently.

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The last 18 months have dramatically altered decision-making for B2B buyers – not just today, but permanently.

The COVID19 pandemic left business leaders with two choices – adapt to a virtual economy or  close the doors. The result has been a modern-day industrial revolution.

Today, your customer has:

Less Time: Suddenly everybody is working from home. All decision-makers have had to confront the tension between private and professional life previously reserved for entrepreneurs. This makes it even harder to attract and keep your prospect’s attention.

Less Patience: Your clients are doing more with less – if you don’t show up with a supremely targeted and relevant message, you won’t get 5 minutes on the calendar.

Meeting Exhaustion: Call it Zoom fatigue or whatever you want to – we’ve all spent more time than we ever thought possible staring at little video windows and feeling like we’re trapped in a never-ending Max Headroom commercial. The more you can engage your prospect without adding to the endless series of video meetings, the better off you’ll be.

Tighter Budgets: an economic downturn immediately puts the spotlight on managing expenses and ROI. If you don’t show up with a crystal-clear value proposition, you’re going to lose the sale to someone who does.

B2B Buyers aren’t necessarily spending less money.

The majority of businesses aren’t putting spending on hold. Your clients ARE still spending money on core business initiatives, they’re just spending it more intentionally.

  • Only 1 in 5 B2B buyers reports delaying potential purchases due to budget freezes.
  • About 80% of research and decision-making happens online before your prospect engages directly with anyone inside your company.
  • 93% of B2B report that the average length of a purchase timeline has increased (55%) or stayed the same (38%)

Data Source: DemandGen Report: B2B Buyers Survey Report

If your sales and marketing teams are struggling to find new business, it’s time to ask yourself if you’ve set them up for success, or failure.

Marketing and Sales Can No Longer Operate in Silos

All of this change represents a massive opportunity to intentionally design your revenue engine for the new economy by implementing Growth Architecture in your business.

Please don’t get fooled into the ever-popular story that you have to do more, more, more. The truth is that when marketing, sales and revenue development are working together, you’ll actually end up doing LESS, but doing it more effectively. Even better:

  • Your conversion rate improves by up to 38%.
  • Your rate of growth gets as much as 24% faster.

Want to know where the structural gaps are hiding in your business?

Scroll down to the bottom of this page and use our free Growth Potential Rating tool. It takes five minutes and your individual results will be sent directly to your inbox.

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