Which channels affect purchase decisions for B2B buyers?
BuyerSphere is an excellent report for B2B marketers from Base One that is now in its 5th Edition and has just been released. If you don't know it, it reviews many aspects of B2B Digital Marketing with the focus on the decision-making process for B2B products and services by reviewing the behaviour and attitudes of over 200 B2B buyers for purchases over £20,000. Refreshingly the report focuses on 'what buyers do' and 'not what marketers think' with some enlightening findings.
This article shares the findings on how the buyers find information to support their decision-making process and how influential the source is in terms of realising that sale.
Where do businesses find their information on their supplier?
Those holding the purse strings or 'influencers' in the buying decision, use at least 2 different information sources when selecting their supplier. With the main sources being gathered from the supplier's website, using search or seeking information from colleagues or friends as shown below. The report highlights that this year, recommendations has increased by 8% compared to 2013.
There were no significant differences reflected by the age of the respondent or level of experience, though results showed that those working in the IT and Procurement sector were more likely to have visited the supplier's site.
How influential is the information that the buyer uses?
Considering 'usage against influence' which guides the buyer in their purchase, the matrix below for example shows that information from friends or colleagues 'is the most useful but not necessarily the most widely used' in making the end decision.
In terms of External Analyst reports, these were influential but rarely used and had a stronger weighting compared to customer testimonials or interviews with key experts.
You can download the Buyersphere B2B Marketing 2015 report here from BaseOne.