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Buyer Behavior in 2020: Study Concludes Purchase Orders Still Going Through With Heightened Expectations Amid Current Events

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TLDR:

A surprising finding of a study conducted by Demand Gen. Report of 212 B2B professionals found that many businesses are continuing forward despite the country’s current state of affairs. Overall, the findings underscore a need for an agile marketing strategy responsive to change. B2B buyers are expecting that solution providers aren’t assuming all businesses are halted, and as such, are expecting them to figure something out.

With the disruption onset by current events, it’d be natural to assume that most, if not all businesses’ productivity numbers would be down. It actually turns out that the opposite is true: many businesses are unaffected by the state of the world right now.

At least, that’s what a 2020 study authored on buyer behavior says anyway. The evaluation, conducted by Demand Gen. Report, involved surveying 212 B2B pros to find out whether it’s business as usual or not.

While 47% of buyers had to make adjustments because of the public health emergency the nation’s entrenched in, a majority are pressing on.

And those businesses that have decided to carry on are expecting solutions-providers to adapt to these turbulent times This is important, especially now, when the needs of businesses are so sensitive.

It’s that sensitivity that underscores the need for responsiveness within B2B as a whole. This is because although many businesses are continuing, many aren’t, yet some are speeding everything up. 

“In fact, the survey found 30% of companies had escalated some purchase plans due to changing business needs following the crisis.”

Demand Gen. Report’s study conclusions have been nicely summed up in a report of the survey findings, which include:

°  How buyers are starting their journey and which channels they’re using to do that

°  What impressions companies leave with their messaging

°  How certain touchpoints have changed in the buyer’s journey

°  How sales reps should act when a buyer is ready to purchase

°  How businesses go about selecting a vendor—which details are more crucial than others?

Original article from DemandGen Report published in 2020. 

The ABM Journal

The ABM Journal was created because we got tired of sifting through all the noise about ABM and wanted to gather only the very best and useful Account-Based Marketing information in one place. In addition to our own research and insight, we aggregate executive level summaries, insights and takeaways—along with some of the top ebooks and other resources available.

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