Today’s B2B Buyer: It’s Not Your Grandfather’s Job Anymore
Think the typical B2B or life science buyer is a 45+ year-old male? Think again. Today’s purchasing reps and managers are younger and more digitally savvy than their predecessors. Their skills and experiences are transforming the entire buying process.
A recent American Marketing Association survey reported that 65% of B2B buyers are now younger than 40. Plus, they are facing difficult internal issues such as staff and budget reductions and evolving artificial intelligence-fueled technologies that are altering the ways they engage with marketers and sales reps.
When asked about the top 4 influencing decision they would make before accepting a B2B sales meeting, the buyers’ responses were as follows:
- 60% – go to the supplier’s website
- 55% – attend a webinar hosted by the supplier
- 52% – conduct online research on the supplier
- 50% – evaluate the supplier on peer review sites
It’s evident that B2B and life science buyers are consuming large quantities of content before speaking with a sales rep. And the sales reps will have no idea what the prospect has seen, or about the stage of their buying journey.
TW’s Take
This research reveals several glaring issues that B2B and life science marketers must overcome to support their companies’ sales efforts.
- Prospect personas must be revised to reflect the demographics, experiences, and digital sophistication of the new buyer.
- Engaging content must be created that speaks to the needs of the new purchasing professionals. (Almost two-thirds of marketers in a recent study said creating appealing content across different purchasing stages was a significant challenge.)
- The company’s website is critical in moving the purchaser to the next buying stage and must offer a compelling unique value proposition.
- Peer review sites have become highly influential in the B2B buying process and must be leveraged to support prospect conversion to sales.
Sources:
- The New Omni-Channel, Tech Friendly, and Woke B2B, American Marketing Association, August 2022.
- Content Marketing Institute Survey, July 2022.
