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buy-cycle

Customer Buy Cycle Dynamics are Changing


In the B2B world, for decades the customer buy cycle has been something of a given:

  • Research and needs analysis
  • Comparison and evaluation
  • Purchase decision

Today, the basics of the buy cycle haven’t changed, but thanks to the explosion of information that’s just a keystroke away, people are using digital resources at every stage in their buy cycle.

Here’s the thing:  It’s easy now for buyers to discover information about products and suppliers – and to narrow down their choices long before making supplier contacts.

Today, only about 40% of buyers make contact with suppliers during the “research and needs” stage. Another 40% 
wait until the “comparison and needs evaluation” phase.

And 20% don’t contact a seller at all until they’re actually ready to make a purchase.

These behaviors require a change in marketing tactics, too:

  • Maintain a strong online presence wherever customers spend their time during early buy cycle stages.  
(This includes search engine visibility, too.)

  • Have compelling informational and educational content that helps “sell” your products and solutions – even without the benefit of salesperson interaction.

  • Proactively push your content through relevant digital channels so that it’s easily findable when your prospect is in “research and evaluation mode.”

One other thing: When inquiries do come in, be prepared to respond with specifics, not generalities, in order to keep the momentum going with these already-informed prospects.

 

Contact Mullin/Ashley

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