Is your B2B marketing strong enough?

Uncertainty and confusion seems to be the order of the day as restrictions, and flat out guessing, seems to rule supreme these days. As the B2C companies look to gain some serious ground during this holiday season, the future may not be so foreseeable for the B2B businesses. Sure, the B2C’s can turn an entire month into “black friday” but what can the B2B’s do? Some recent B2B intel released by the national marketing firm, Blue Corona, just may offer a way for the B2B’s to also gain some serious ground in the upcoming months. The following is taken directly from their published data:

  • B2B marketing has changed drastically over the past five years and in order to succeed in 2020, you need to go digital. Not only has the B2B buyer changed—millennials now comprise half of all B2B buyers—but so has the B2B buying process. When researching new products and services, today’s B2B buyer makes an average of 12 searches online and looks for the same digital experience they encounter during the B2C sales cycle.
  • Most B2B buyers are already 57% of the way through the buying process before the first meeting with a representative. (Accenture)
  • 90%of B2B buyers now twist and turn through the sales funnel, looping back and repeating at least one or more task in the buyer’s journey. (CMO)

  • B2B buying cycles are getting longer and more complex—58% of buyers said their decision process was longer in 2017 than in 2016; just 10% said purchase time decreased. Buyers are conducting more detailed ROI analysis before making a purchase decision (77%); using more information sources for research and evaluation (75%), and increasing the number of buying group members (52%). (Business2Community)
  • 80% of B2B buying decisions are based on a buyer’s direct or indirect customer experience, and only 20% is based on the price or the actual offering.
  • The leading reason business buyers have limited engagement with B2B vendors is because marketers are sending them too much irrelevant content (34%). (KoMarketing)
  • Mobile usage per B2B worker is expected to increase from two hours a day to three by 2020, driven by millennials, Gen Z, and the increasing use of smartphones by older workers. (Google)
  • Mobile drives or influences an average of more than 40% of revenue in leading B2B organizations. (Google)
  • 50% of B2B search queries today are made on smartphones, and this percentage will grow to 70% by 2020.

-Written by Kevin Sawyer