When it comes to B2B sales, 73% of all B2B companies say that winning new customers is their top priority.
Yet, 50% of B2B Sales Leaders don’t believe they can meet their targets.
Here is the research data that explains why.
Business-to-Business (B2B) buying has always worked the same way. There is a new initiative or need, and staffers are directed to research and report back with a short list of recommended solutions and providers.
In the past, the short list predictably consisted of sellers whose names were well recognized. It paid to attend lots of conferences, shake hands, and pass out plenty business cards.
However, the old selling model is not working as well today. In fact, B2B sellers report a 57% increase in cost of sales since 2011.
The way B2B buyers make buying decisions has dramatically changed in the last five years (download the list of additional findings here):
- 90% of all product and vendor searches happen online (50% of that on mobile devices while at work)—without ever speaking with a sales representative.
- 71% of B2B researchers start a generic search for a solution to their problem, and don't care about brands.
- As a result, 57% of the buying journey is completed by the time B2B buyers begin contacting sales reps.
- No wonder that 90% of B2B buyers reported they NEVER respond to cold calls. They believe it's just a waste of their time.
The seller that ends up on the short list today is the one that has deep and compelling information that buyers need—online and preferably mobile—and knows how to drive its prospects to that information with highly targeted marketing and business development campaigns.
This is the only proven way to continue to win new customers in a highly competitive digital era. Here is a case study that demonstrates this model.
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