Friday, 24 July 2020

B2B Marketing Statistics you Need to Know

With more online businesses than ever before competing in the B2B space, gaining a competitive edge is the ultimate challenge. On the plus side, recent studies have illustrated exactly what’s needed to stand out from the crowd.

Specifically, a series of statistics from Forrester, Google, Digital Commerce 360, Growth Point, HubSpot and Bizible have brought some interesting findings to light. Anyone looking to succeed in the B2B space would be wise to take note of the following:

Nine out of 10 B2B customers begin with a search

Firstly, evidence suggests that around 90% of customers in the B2B space use search engines when sourcing products and services. This in turn suggesting that SEO strategies should be given the highest possible priority by those looking to get ahead.

B2B customers make multiple searches before going ahead

Specifically, the average B2B customer carries out a full 12 searches, before making their final decision and engaging with one specific website. Those in the B2B space almost always going the extra mile to compare options and find the best deal.

Multiple brands are considered before each purchase

Again, approximately 90% of B2B customers research up to seven different online businesses, before going ahead and making a purchase. Along with being found in the first place therefore, this highlights the importance of delivering the highest-value user experience possible. While at the same time, differentiating yourself from your competitors.

B2B customers research offline purchases online

Even when B2B customers plan offline purchases, around 75% conduct the vast majority of their research online. Providing as much information as possible to highlight the value of your offer being the key to closing the sale.

Telephone is the preferred communication channel

Incredibly, more than 90% of all customer interactions in the B2B space take place via telephone. That according to Salseforce, highlighting the importance of high-quality telephone service provision at all times. This differs from the B2C space, where live-chat is fast becoming the preferred communication channel among modern consumers.

Callers convert more quickly than web leads

Furthering the relevance of the points above, Forrester reports that B2B calls result in 30% faster conversions than standard web leads. This suggests that an investment in B2B telephone marketing could drive a faster profit than some traditional web marketing channels.

Direct calls are highly influential

Last up, telephone calls in the United States alone are expected to influence consumer spending worth more than $1 trillion this year. Some demographics may have switched to more modern communication channels, but direct calls are still where it’s at in the B2B space.

Just a handful of interesting statistics to highlight of what’s going on in the B2B space right now. Particularly in an era of such heavy competition, taking into account statistics like these could be instrumental in gaining a competitive edge.

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