Clutch data pinpoints the stage where B2B tech buyers need the most TLC
The final decision to purchase B2B software or work with a service provider may take little more than a day, but companies developing an compelling customer experience (CX) should bear in mind that the time to research could span a month or longer, according to data from Clutch.
Based in Washington., D.C., Clutch surveyed just over 450 business professionals who had invested in B2B products and services over the past year to produce B2B Buying Process: How Businesses Purchase B2B Services and Software, which was released Wednesday.
Not surprisingly, talking to a company representative and a vendor’s website were ranked as the top sources of information in researching B2B software and service providers, even above referrals and reviews. When they do so, however, they expect vendors to be up front and ready to have a dialogue.
A quarter of those surveyed said transparency around costs when reviewing a vendor’s web site is important, for instance, and nearly as many said the same thing about having cases or a way to get immediate feedback, like a chatbot.
While customers obviously want strong customer service and help with onboarding once a deal is done, making pricing and other details more visible early on could be even more important.
“If businesses are more proactive at the beginning of the sales cycle, they can engage buyers at the start of the sales funnel to create a positive impression,” Grayson Kemper, the Clutch report’s author, told 360 Magazine via e-mail. “Being transparent about everything a buyer needs to know (e.g., price) early on may help frame your business as the solution to their problem, rather than waiting for buyers to consume external online content.”
Even for those who have done this before, it doesn’t necessarily get any easier: 75 per cent said it takes the same time to buy software compared with previous experiences, and nearly the same proportion (70 per cent) said the same thing about hiring a service provider.
“The buyer may still ultimately find you through that protracted process or they could end up going with another provider because they better provided the information the buyer was looking for,” Kemper said.
Clutch’s findings are in line with those of similar recent studies, including a survey from FocusVision that showed buyers looking at up to 13 different pieces of content, and where vendor web sites were also cited as a top source by 70 per cent of participants.
The Clutch report also provided a helpful snapshot of who some of today’s key B2B customer contact include. While four people might be involved in hiring a service provider, 60 per cent said the final decision might come down to less than three.
Those on the team responsible for research are probably Millennials or Gen Z, the study suggested, with 57 per cent under 35. Only 12 per cent of those who actually sign off on a software purchase are that young, however, and the results were similar for those hiring a service provider.
You could argue that transparency around pricing, being open and available could all be tied not only to a CX strategy but a foundation for a B2B brand’s purpose. Most aren’t there yet, however.
According to The B2B Purpose Paradox, a study from the ANA, the Harris Poll, and Carol Cone that was released earlier this month, 86 per cent of B2B companies say they embrace purpose as important to growth. However, only 24 per cent said it’s is embedded in their business to the point of influencing innovation, operations, and their engagement with society.
