Annual Research Shows B2B Buyers Are Nearly 70% Through Their Purchasing Process Before Engaging with Sellers by 6sense.
6sense, the leading platform revolutionizing B2B revenue generation, announced the release of its annual 2024 Buyer Experience Report. Produced by the 6sense Research Team comprising former industry analysts, this comprehensive study reveals critical insights into how and when B2B buyers make purchasing decisions across North America, Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC).
“To compete effectively, marketers must drive awareness and preference early in the buying journey. Traditional demand generation tactics must evolve into integrated strategies that create awareness, build affinity, and secure favorable competitive positioning.”
Key Findings
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- B2B Buyer Journey: B2B buyers are nearly 70% through their purchasing process before engaging with sellers, with buyers initiating first contact over 80% of the time.
- Vendor Preferences: 81% of buyers already have a preferred vendor by the time of first contact, and 85% have solidified their purchase requirements.
- Buying Cycle: The average B2B buying cycle extends to 11.3 months.
- Buying Group Dynamics: B2B buying groups typically consist of 11 individuals.
- Previous Vendor Experience: More than 90% of buyers have prior experience with at least one of the vendors they consider.
“Our 2024 Buyer Experience Report confirms that B2B buyer behavior is consistent globally, with subtle regional variations,” said Kerry Cunningham, Head of Research and Thought Leadership, 6sense. “To compete effectively, marketers must drive awareness and preference early in the buying journey.”
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Implications for Revenue Teams
“These insights aim to help revenue teams better engage with buyers, improving revenue production practices and outcomes. This year’s results replicate what we saw in last year’s study, and at a larger scale, which further validates the data we’re seeing from B2B buyers,” added Cunningham.
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Source – Businesswire
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