8 Surprising Facts about B2B Data

You may believe you are an expert in B2B sales. But, in reality, B2B is a dynamic field with new trends every year. Sales processes are becoming less linear and more reliant on video. In this article, we will look at 8 surprising facts about B2B data. The Covid-19 pandemic has also changed the game for B2B salespeople.

1. Table of Contents

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   B2B Buyers Only Spend 17% of their Buying Time Meeting with Suppliers (Gartner)

The time buyers spend talking to suppliers has decreased dramatically. The internet has given buyers a lot of freedom. Previously, suppliers were the only source of product and service information. In today’s market, buyers spend 27% of their time researching independently online, 22% meeting with a buying group, 17% meeting with suppliers, and 16% using other research methods. This sobering statistic shows how important it is for suppliers to meet with their buyers.

2. 77% of B2B buyers say their latest purchase was difficult or complex (Gartner)

Buyers have not all been pleased with the shift from supplier contact to internet research. Many buyers find the internet’s wealth of information intimidating. It’s not always easy to tell which reviews are genuine and which are paid for. This conundrum can intimidate and confuse buyers, so we must be patient.

3. Customers are 2.8 times more likely B2B purchases (Gartner)

So how can this be made easier? You can provide accurate, concise product information to your customers. This information can help buyers who are overwhelmed by unorganized internet feedback.

4. By 2025, 60% of B2B sales organizations will use data-driven selling approach (Gartner)

Data has always been vital in B2B sales organizations, and most experts expect this to continue. By 2025, Gartner predicts that 60% of B2B sales organizations will be data-driven. This is on top of all the other organizations that have switched.

5. By 2025, 80% of B2B sales interactions will be digital channels (Gartner)

By 2025, Gartner predicts that “80% of B2B sales interactions between suppliers and buyers will be digital”. This forecast is based on the surge in digital sales during the Covid-19 pandemic. Even though the pandemic has passed and business can resume in person, many sales are still made online due to convenience.

6. More than 75% buyers and sellers prefer digital self-serve and remote human engagement over face-to-face interactions (McKinsey)

Even when buyers can make sales in person, many prefer digital self-service or remote human engagement. This is usually due to time savings, and as video conferencing technology improves, this will become an even better option.

7. Most B2B sellers believe digital sales are more effective than face-to-face (McKinsey)

Like buyers, most B2B sellers prefer digital sales. Sellers find it easier to schedule a video conference with a buyer than to meet in person.

8. Since April 2020, revenue from video-related interactions has increased by 69% (McKinsey)

Prior to the pandemic, video sales interactions generated 69% more revenue. In order to support a small but mighty sales team that can be much more time efficient, many companies have prioritized improving video conference technology.