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Why B2B buying cycles are nearly over well before you ever know about them.
Until now, research into B2B marketing has focused on how marketing and sales collaborate to engage target accounts and win deals. However, insights on the recipients of these activities - the B2B buyer – are much harder to come by. Until now.
To better understand this elusive audience, Green Hat partnered with 6sense to produce The APAC B2B Buyer Journey Research Report 2024. Based on a study of 733 organisations, the report contains several key findings - the most important being that B2B buying cycles are nearly over well before vendors even know about them.
Produced in partnership with
A Closer Look.
- We surveyed a range of buyers from 733 B2B organisations in APAC.
- Participants had been involved in B2B deals exceeding US$10,000 in annual value over the last 24 months.
- Participants were from Singapore, Hong Kong, Australia, New Zealand and Southeast Asia.
- Participants were from a variety of industries, business divisions and levels of seniority.
B2B buying is a team sport
B2B purchases are made by buying groups with members from across the business.
12.8
people is the average size of a buying group.
What is the breakdown of buying party roles in APAC?
When buyers consider a purchase important, the buying process takes less, not more time.
Larger buying teams report shorter buying cycles.
Why buying team activity is difficult to see
For
73%
of the buying cycle, buyers are researching their requirements anonymously and creating a vendor shortlist.
This part of the buying process is known as the ‘Dark Funnel’.
These hidden buyers leave buying signals, but often vendors can’t see them.
These hidden buyers leave buying signals, but often vendors can’t see them.
B2B buying is complex. How can vendors make it easier?
The buying team has up to
1,280
interactions, with an average of five vendors during the buying cycle.
Buyers are bombarded with vast amounts of data by sales and marketing teams.
Content that makes the complex simple helps buyers compare options and build their business case.
Sales teams are most effective as ‘sensemakers’, optimising their limited interactions with buyers by helping the latter prioritise and understand information.
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