CAMBRIDGE, Mass., May 4, 2021 / PRNewswire / – According to a new study presented by Forrester (Nasdaq: FORR) at the North American B2B Summit, the pandemic has dramatically changed the buying behavior of B2B companies. The number of interactions required to make purchasing decisions has increased significantly over the past two years: from 17 in 2019 to 27 in 2021, indicating a new level of awareness and care when shopping during the pandemic. Additionally, many technology purchases, especially software, impact a wider range of functions and departments, so more stakeholders and influencers are part of the decision-making process. As a result, 60% of purchases today are linked to four or more people (up from just 47% in 2017).
Forrester’s new study describes frameworks, models, and actionable insights designed to help B2B marketing, sales, and product leaders understand and respond to these new buying behaviors and changing buying process expectations. New research released in conjunction with the announcement of the Forrester Decisions product portfolio will enable B2B executives to define their goals, apply best practices, and ultimately achieve business results faster. Forrester says companies that successfully align marketing, sales, and product functions see 19% faster growth and 15% more profitability.
Notable research findings presented at the B2B Summit include:
- Trust building: the B2B imperative. Although 92% of businesses consider themselves trustworthy by their customers, companies have to work harder to restore and build customer trust. Forrester’s new risk and reward framework helps determine how and where trust should be made into a B2B bid. It is based on seven measurable levers: accountability, competence, consistency, reliability, empathy, integrity and transparency.
- The Forrester 2021 B2B Purchase Study. In the last six months of 2020, the demand for more content and more digital and personal interactions throughout the B2B buying journey has made the buying process more intense. Forrester’s research details how executives can successfully meet the needs of B2B buyers in the new normal.
- Step into the new destiny of B2B marketing. 54 percent of B2B companies have difficulty activating their brand purpose. This study explains how B2B executives can fulfill the new mandate of marketing in the post-pandemic era – identify opportunities that are relentlessly focused on delivering value to existing and future customers.
- The optimal way to generate sales. B2B marketing, sales, and product leaders can use a new framework – the Forrester B2B Revenue Waterfall – to prioritize buyer engagement and maximize sales to accelerate sales growth.
- The five Ps of sales that will lead to success in the future. With the sales professional at a critical crossroads, this study introduces best practices for sales leaders that are focused, accurate, personalized, productive, and profitable in order to attract, retain, and grow customers.
- Paths to the market: a means to a strategic advantage. In today’s B2B environment, executives need to regularly review how they’re reaching, selling to, and supporting target buyers. This new study describes how B2B executives can customize and optimize their go-to-market decisions to gain competitive advantage.
“The pandemic has disrupted the way we do business,” he said Sharyn Leaver, Forrester senior vice president of research. “With customer and buyer behavior completely transformed, Forrester’s new research, frameworks, and data will help B2B marketing, sales, and product leaders meet their most pressing priorities in the post-pandemic era, by 2021 and beyond Ensure profitability. ”
- Register to attend the B2B Summit North America.
- To learn more about Forrester decisions, click here.
- Follow @Forrester and # ForrB2BSummit for updates.
Forrester (Nasdaq: FORR) is one of the most influential research and consulting firms in the world. We help executives in technology, marketing, customer experience, product, and sales functions leverage customer obsession to accelerate growth. Forrester’s in-house research, consulting, and events enable executives from around the world to work boldly – to steer change and put their customers at the center of their leadership, strategy, and business operations. Our unique insights are based on annual surveys of more than 675,000 consumers, business leaders and technology leaders worldwide. rigorous and objective research methods, including Forrester Wave ™ ratings; over 52 million real-time feedback votes; and the common wisdom of our customers. To learn more, visit Forrester.com.
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