BizReport

RSS feed Get our RSS feed

News by Topic




BizReport : : March 09, 2020


For B2B buyers, reviews crucial

Product reviews are shown to have an impact across the board for shoppers, but according to one new report reviews are especially important to a specific buying segment: B2B buyers. According to new Clutch data most businesses (94%) consult product reviews before finalizing B2B buys.

by Kristina Knight

Brands may want to up their review game. That is a key takeaway from new Clutch data which indicates nearly all B2B buyers are consulting reviews (94%) before making purchases. And, they are taking their time. Researchers further found that about half of B2B buyers take at least a month to research the purchase of a service (52%) or software (65%).

But, while they take their time looking into products and services, once B2B brands have the relevant information about half are making the final purchase decision in a week or less.

As to where they're looking for reviews and information, one third are looking to search engines to help parse out the product information and 25% are looking to a combination of services - blogs, company websites, search engines, etc - to help them make purchasing decisions.

Other interesting findings from the Clutch data include:

▪ 49% of B2B brands have four or more people involved in researching product or service buys
▪ 60% use between 1 and 3 people to make final purchase decisions
▪ 57% of B2B buyers are under age 35, 42% of B2B purchase researchers or evaluators are under age 35
▪ 86% of final purchase decisions come from those over age 35

"This research suggests that modern B2B buyers are millennials who are comfortable with digital-first environments and value collaboration with peers when making decisions," write the report authors. "Our data demonstrates that younger employees are most likely to be involved in the stages of the B2B buying process that are the most collaborative and leverage digital resources the most: researching information about and evaluating B2B companies. The people making final decisions about investing in services providers or software, on the other hand, tend to be older."

More Clutch data can be accessed here.






Tags: B2B buying, B2B ecommerce, B2B tips, B2B trends, Clutch, SMB ecommerce, SMB tips








Subscribe to BizReport







http://www.bizreport.com/2020/03/for-b2b-buyers-reviews-crucial.html

 

 

Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.