New research reveals what influences B2B buying decisions and explains why the B2B buying process is getting longer.
Earlier this month, Demand Gen Report published the findings of the 2017 B2B Buyer’s Survey. The 2017 research was based on a survey of 283 C-level executives, VPs, and Directors across several B2B industries. Each respondent in this study was qualified to have been involved in a B2B purchase decision within the 12 months preceding the survey.
The 2017 survey findings reveal that B2B buyers’ journeys are becoming longer and more complex. Fifty-eight percent of respondents said that the length of their purchase cycle had increased compared to a year earlier, while only 10% said that the length had decreased.
Other findings explain why the buying cycle has gotten longer.
- 52% of respondents said the number of buying group members had increased significantly.
- 77% agreed that they conduct a more detailed ROI analysis before making a purchase decision.
- 78% agreed that they “spend more time researching purchases.”
- 75% agreed that they “use more sources to research and evaluate purchases.”
Top image source: Demand Gen Report