What Today’s Technology Buyers Need to Make a Decision
Much of the following is from an excellent TrustRadius B2B Buying Disconnect report—a survey of over 2,000 respondents that shows year-over-year trends in business technology buying and selling. Here are a few highlights of the 2023 report:
We are in a self-service economy. Buyers rely on self-serve resources like pricing, free trials, product demos, and customer stories to inform buying decisions.
87% of buyers adjusted their purchase process to ensure they end up with mission-critical products that will deliver the necessary ROI.
Economic conditions impacted 80% of buyers’ technology usage, driving interest in time and cost-saving products.
Buyers relying on prior personal experience when making purchase decisions increased 20% in 2023.
27% of buyers reported that more C-suite decisionmakers are involved in the buying process.
Product demos are crucial, being the most widely used decision-making resource (58%) for buyers.
Buyers value quality customer reviews that are relatable more than the number of reviews or product score.
Once budgets increase, 37% of buyers plan to spend on headcount and 27% on new technology.
This obviously doesn’t apply to all technology sellers—for example, most buyers definitely want to talk with a knowledgeable sales rep for high-end products and services And any technology that needs to be customized won’t have a static price associated with it. So, this is interesting, but not a complete story. The full TrustRadius article and report may be available here: https://solutions.trustradius.com/resources/report/2023-b2b-disconnect/
For a no cost discussion of your situation and how we can leverage metrics-based marketing to grow your business call 630-363-8081 or email jeanna@smartprcommunications.com.
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