Forrester’s 2023 Global B2B Buyers’ Journey Survey Reveals That Budget Crunches, Information Overload, And Generational Differences Are Protracting Buying Cycles
03 Outubro 2023 - 10:00AM
Business Wire
Nearly 90% of global business buyers indicate
that their purchase process was stalled in 2023
According to Forrester’s (Nasdaq: FORR) The State Of Business
Buying, 2023 report, buyers across the globe are overwhelmingly
price-sensitive as they navigate macroeconomic headwinds: At least
a third of B2B business buyers in North America and Europe, and
more than a quarter in Asia Pacific, are primarily influenced by
price when making purchasing decisions. Additionally, the buying
process has become more complex than ever, with purchase delays
becoming the norm. To help expedite decision-making, providers need
to offer price transparency up front and showcase their offerings’
ROI to buyers throughout the buying journey.
Based on responses from more than 18,000 global business buyers,
the report further shows that, in addition to financial
constraints, the following factors are influencing buying decisions
in 2023:
- Generational differences. While younger buyers are
gaining more purchase influence in the buying cycle, they also face
more challenges. In fact, younger buyers often cited “unable to
build internal consensus on vendor selection” as a stall reason.
Seventy-one percent of respondents falling within the Millennial
and Generation Z categories signaled that they may have less
decision-making authority than older buyers.
- Vendor-owned interactions. Buyers derived more meaning
from vendor-owned interactions, such as through product experts,
free trials, and sales representatives, than they did from other
third-party sources, including industry conferences and general
business publications. Specifically, product experts have the
greatest influence on buyers, offering the best clarity and value
to help them find the best solution for their needs.
- Regional practices. Noticeable differences emerge when
comparing buying behaviors across Asia Pacific, Europe, and North
America. More than 30% of North American buyers value ease of doing
business whereas, in APAC, buyers rely more on trust, provider
expertise, and relationships with vendors to make purchase
decisions. In North America, 43% of business buyers make purchase
decisions with no more than two people across a single department,
compared to 29% of business buyers in Europe and 35% in APAC,
respectively.
“Due to budget constraints and continued economic uncertainty,
buying decisions are getting delayed,” said Amy Hayes, VP and
research director at Forrester. “In this business climate, buyers
expect price transparency and providers to meet their preferences
and needs across all stages of their purchase journey. This
research is designed to help B2B sales, product, and marketing
leaders understand new and emerging buying patterns so they can
distinguish themselves from their competition and close business
faster.”
Resources:
- Discover the latest global B2B business buyer preferences and
behaviors for 2023.
- Download Forrester’s B2B buying report, The State Of Business
Buying, 2023 (client access required).
- Explore Forrester’s 2024 Planning Guides for B2B Marketing
Executives and Portfolio Marketing.
About Forrester
Forrester (Nasdaq: FORR) is one of the most influential research
and advisory firms in the world. We help leaders across technology,
customer experience, digital, marketing, sales, and product
functions use customer obsession to accelerate growth. Through
Forrester’s proprietary research, consulting, and events, leaders
from around the globe are empowered to be bold at work — to
navigate change and put their customers at the center of their
leadership, strategy, and operations. Our unique insights are
grounded in annual surveys of more than 700,000 consumers, business
leaders, and technology leaders worldwide; rigorous and objective
research methodologies, including Forrester Wave™ evaluations; 100
million real-time feedback votes; and the shared wisdom of our
clients. To learn more, visit Forrester.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20231003592506/en/
Ira Kantor ikantor@forrester.com
Forrester Research (NASDAQ:FORR)
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