Reduce the complexities of B2B buying processes.
Customers need help and guidance in overcoming their buying challenges.
Develop a more consumer- like experience for tech buying customers.
B2B reviews continue to hold a strong influence over buying decisions:
B2B buyers consistently use these top 5 information sources to help them make purchasing decisions:
- Free trials/accounts
- Product demos
- User reviews
- Vendor/product websites
- Vendor reps
B2B software reviews heavily influence buyers.
of buyers use reviews during their purchase process.
of buyers use reviews during their purchase process.
B2B buyers who use reviews share them with at least one other person.
2 out of 5 buyers share B2B tech reviews with four or more other buying committee members.
The pandemic has shifted the way people purchase software:
of buyers spend more time researching products before making a purchase.
of buyers spent time doing extra research because of data security concerns
When the budget increases, so does the buying team:
of B2B buyers say they require a business case for all technology solutions.
The average tech purchase involves between 14-23 people
of whom are in senior operations or product roles.
Organizations are continuously increasing their budget for tech investments, but most struggle to do so effectively. They have difficulty dealing with competing priorities, managing complexity, and building teams.
of B2B tech buyers found the buying process complex
reported achieving a high-quality deal
The younger generation are taking the lead in buying tech:
of all B2B tech buyers are millennials
(age 25 – 39).
of all B2B tech buyers are Gen X.
of all B2B tech buyers are Gen Z
(24 and younger).
Gen Z and Millennial buyers are also more likely than older generations to research about a product or service online.
ChatGPT in B2B Interactions
- 24/7 Support: ChatGPT offers round-the-clock assistance, catering to global businesses. Stat: 80% of B2B buyers prefer instant responses, which ChatGPT provides
- Cost-Efficient: Reduces customer service costs by up to 60%.
- Data-Driven: Personalized recommendations lead to a 30% increase in B2B sales conversions.
Takeaway: ChatGPT streamlines B2B interactions, offering efficiency and data-driven insights that enhance the buying experience.
The challenges that B2B companies face when buying tech shows there are opportunities for technology service providers to create a better experience.
Let’s reiterate the takeaways here:
Reduce the complexities of B2B buying processes.
Customers need help and guidance in overcoming their buying challenges.