#5: The Shift in B2B Buyer’s Psychology

The Marketing Water Cooler Podcast

On today’s episode of The Marketing Water Cooler Podcast, Jeremy and Steph
talk about the changing landscape of the B2B marketplace. Recent data has shown
that, on average, a buyer will consult 6.9 information sources before making a
purchase decision, which is up 35% from last year. So what does that mean for you?
Essentially, you need to fundamentally rethink your marketing strategy.
One thing that’s totally different in this new buying landscape is that your customer is no
longer relying on your sales team to tell them everything they need to know. In fact,
they’re logging on to a sales call already informed about you and your product, and
they’ve possibly already decided whether or not they’ll buy from you. So, you need to
make sure that your company is ahead of your buyers and that you’re putting out
valuable information that your future buyers will find, because if you’re not doing that,
then your competitors will. This is a huge shift in strategy for B2B marketing, and
requires you to position yourself and your company as subject matter experts. The
plus side of this is that you’ll end up with qualified buyers who love your product and
love the buying process, because you’ve been giving them value since Day 1.
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Timestamps
[0:29] The communication landscape has changed
[1:22] The latest data on what the B2B market looks like today
[2:00] 57% of buyers make a purchase decision without ever talking to a vendor
[2:26] Why does this data matter?
[3:37] Your salespeople are not the first people that your client has met on their
awareness journey
[4:10] Where are your customers getting their information from?
[4:59] If you’re not supporting your marketing department, you’re not handing high
quality leads to your sales department
[5:38] Your customer already has information about your product
[6:43] 77% of buyers find the buying process complex and frustrating
[7:58] The new way to look at the 5th to 12th touch
[9:15] Consumers are buying more consciously, how can your company match that?
[10:10] You still need to solve your customers’ problems
[11:12] It’s not what’s the story, it’s who’s reading it
[12:45] Subject matter expertise: The biggest shift in B2B marketing
[14:48] Position yourself to get ahead of your buyers

Links
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