[Research Round-Up] B2B Buyer Preferences, Online B2B Buying and Personalization



(One in every of my targets for the month-to-month Analysis Spherical-Up publish is to share analysis experiences and different research-related supplies that could be beneath the radar screens of many B2B entrepreneurs. Our February Analysis Spherical-Up suits that description properly. It encompasses a take a look at B2B purchaser preferences by organizational consulting agency Korn Ferry, an examination of on-line B2B shopping for by Wunderman Thompson Commerce, and up to date analysis from McKinsey about personalization.)

2021 Purchaser Preferences Examine:  Reconnecting with consumers by Korn Ferry

Supply:  Korn Ferry

This analysis is targeted totally on B2B promoting, however the outcomes embrace a number of knowledge factors which might be worthwhile for B2B entrepreneurs. Korn Ferry carried out the same examine in 2018, and the analysis report consists of some findings from the 2018 examine. So it is doable to see how some purchaser attitudes and practices have modified over that three-year interval.

The 2021 examine consisted of a survey of 261 enterprise consumers who work for firms having annual income of no less than $250 million. Eighty p.c of the survey respondents had been director-level or above. The entire respondents had been instantly liable for making purchases of $10,000 or extra, and 59% had buy authority of $200,000 or extra.

Respondents had been positioned in North America (43%), EMEA (35%) and APAC (27%). Respondents had been from quite a lot of industries, with manufacturing (43%) and know-how (32%) being the biggest two cohorts.

The examine examined how the pandemic modified the B2B shopping for course of, when consumers desire to have interaction with gross sales reps and what assets consumers use to deal with enterprise issues and find out about doable options.

The analysis outcomes comprise a number of insights which might be related for B2B entrepreneurs. For instance:

  • On common, 6.2 resolution makers are concerned in shopping for choices.
  • 57% of the survey respondents stated they like to establish and make clear their wants and establish doable options earlier than they interact with gross sales reps.
  • The survey requested participates what assets they flip to for data and insights about how one can deal with enterprise issues and challenges. The highest three assets recognized by respondents had been previous expertise with vendor (44%), material specialists from business or third events (41%) and business/skilled on-line communities/social networks (36%). Solely 28% of the respondents cited vendor web sites, which was down from 35% in Korn Ferry’s 2018 examine.

Total, this examine confirms and reinforces the argument that marketing applications and marketing content material are taking part in a significant position in influencing B2B shopping for choices.

Supply:  Wunderman Thompson

That is the second version of Wunderman Thompson Commerce’s B2B Future Shopper analysis. The primary version of the examine – which I mentioned in this publish – was revealed in 2020.

The 2021 report was primarily based on a survey of 604 B2B consumers positioned in the USA (202 respondents), the UK (201 respondents), and China (201 respondents). Survey respondents included buy managers, procurement managers, brokers and C-level executives. All respondents had been concerned in making buy choices for his or her firm.

The Wunderman survey addressed a variety of subjects associated to on-line B2B shopping for. Listed here are only a few of the “headline” findings.

  • The survey respondents reported making 49% of their purchases on-line, up from 46% within the 2020 examine.
  • 93% of the respondents stated they anticipate to maintain no less than a few of the buying behaviors adopted due to the pandemic after the pandemic ends.
  • 89% of respondents from the US and the UK stated shopping for on-line is extra difficult than shopping for offline.
  • 90% of the respondents stated they anticipate the same expertise when shopping for on a B2B website as they do on a B2C website, and 72% stated they need a greater cell expertise from B2B suppliers. 

The shift to on-line B2B shopping for has been underway now for a number of years, and it is progress has been nicely documented. The Wunderman analysis supplies worthwhile insights for firms which might be already providing on-line shopping for in addition to these which might be simply getting began.

Supply:  McKinsey & Firm

This useful resource shouldn’t be a proper analysis report, however slightly an article discussing a number of of the findings from McKinsey’s “Subsequent in Personalization 2021” survey. A number of the knowledge factors mentioned within the article are additionally drawn from different latest McKinsey analysis.

The “Subsequent in Personalization 2021” survey concerned 1,013 US shoppers that had been sampled and weighted to match the US normal inhabitants (18+ years). The survey was carried out September 7-8, 2021.

The McKinsey analysis echoes the findings of quite a few different research which have examined the significance and worth of personalization. For instance, McKinsey discovered that 71% of shoppers now anticipate personalization, and 76% get annoyed after they do not discover it.

As well as, 76% of the surveyed shoppers stated receiving customized communications made them extra more likely to take into account buying from a model, and 78% stated customized content material made them extra more likely to repurchase.

One notice of warning. A number of of the questions within the McKinsey survey had been within the type of, “Please point out how a lot you agree or disagree with [a statement].” Many of the proportion quantities used within the article seek advice from respondents who chosen considerably agree, agree, and strongly agree.

By together with respondents who chosen considerably agree, the proportion quantities used within the article could not present an correct image of how strongly shoppers really feel about personalization.


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