B2B buyers under the microscope and through the crystal ball.

Posted by Uncategorised • September 15th, 2015

Most companies know their customers well. It’s the first premise of business. After all you have negotiated a deal with them, and you probably speak with them on a fairly regular basis. Many companies will run customer surveys, send feedback forms, or just take informal feedback via their sales people.
However, all this feedback and intel can only ever be historic. It’s based on your last interactions with them, or their last purchases. And if, like most companies, you are more interested in what they are going to buy, their future purchases… you’ll be interested in knowing just how dramatically the future is changing for the average B2B Buyer

• Today, 74% of B2B buyers research at least one-half of their work purchases online. (1)

• Today, 60% of B2B companies report that their B2B buyers spend more overall when those customers interact with multiple channels. (1)

• 90% of B2B buyers say when they’re ready to buy, they’ll find you (Earnest)

• 81% of B2B buyers start with a web search (Earnest)

• Most buyers are 50-60% of the way into the buy cycle before they’ll talk to you (Earnest) Do these statistics sound like your customers? Then consider this: • By 2020, customers will manage 85% of their relationship without talking to a human (Gartner Research)

• Today 30% of B3B buyers complete at least half of their work purchases online. In 2017, that’s set to nearly double to 56%. (It’s actually an 80% increase) (1)

• B2B data has a shelf life. If it’s more than three years old, it’s likely only 10% of your data will be clean and useful (Earnest)

To give some comparison, consider that in 1996 Google did not exist. In 1996, people used dial up internet connections (high speed modems did not arrive mainstream until 1997) Mid-1994 there were only 2738 websites, according to Gray’s statistics (4) Compare this to over 180,000,000 websites in January 2014 (3) And as of January 2014, there were around 861,379,000 registered host names (3) And, finally, to make us all feel really old: the web was only publicly announced on 6th August 1991 (4)

So with such enormity of behavioural shifts, and the ongoing revolution of the Internet, how can you base your business decisions for tomorrow, on your customers today?
Paul Dorey, MD of Aspidistra suggest: “It’s all about taking the best data from each set available. At Aspidistra we have an enormous resource of case studies across a number of different sectors, from engineering and manufacturing, to giftware, foods, lifestyle and technical. Our range stretches from distribution to manufacturing, and we are ideally placed to advise based on current and past successes.” For an in-depth analysis of your business’ B2B ecommerce needs, please contact Aspidistra. Sources: (1) http://blogs.forrester.com/andyhoar/15-04-02-usb2becommercetoreach11trillionby2020 (2) http://www.iconsive.com/inbound-marketing-blog/21-b2b-marketing-statistics-that-will-blow-your-mind (Earnest) http://www.earnest-agency.com/ideas-and-insight/earnest-in-motion/vital-statistics-for-b2b-marketers-two/ (3) http://www.techmadeeasy.co.uk/2014/01/18/many-websites-january-2014/ (4) https://en.wikipedia.org/wiki/Listofwebsitesfoundedbefore1995
– See more at: https://www.aspidistra.com/Blog/B2B-buyers-under-the-microscope-and-through-the-crystal-ball#sthash.EOd8qCtl.dpuf