How important is your customer buying behaviour?

Written by Hannah Warner | 29/09/2023

The fact is, you need to understand how your customers buy, their buying process and what’s important to them. It plays a crucial role in shaping your company’s sales, product development and overall business strategy. We thought we would share some interesting stats and trends to keep an eye on to stay on track.

The B2B Behaviour survey

Here are some results from the Demand Gen Report’s B2B Behaviour Survey, which was responded to by 340 B2B executives.

Customers are using more sources to research and evaluate purchases (32%)
They spend more time using social media to research vendors and solutions (31%)
They’re involving more of their team members involved in the purchase process (31%)
They’re relying more on peer recommendations/review websites (29%)
They’re conducting a more detailed ROI analysis before making a final decision (29%)

It’s so important to understand your customers' buying process and ensure that your sales and marketing strategy aligns with how your customers buy. These results also show how important it is to keep your testimonials/reviews up to date, and be transparent with your pricing.

Here are the top five factors they look for when researching:

Pricing (82%)
Reviews (56%)
Features/functionality (54%)
Experience with/knowledge of the industry (53%)
Deployment time/ease of use (50%)

It just goes to show that understanding your customers goes beyond knowing just their demographics. You need to delve deeper into their psychology, preferences, and behaviours. With this information you can tailor your products, services and strategies to resonate with them.

According to a Salesforce report, 68% of business buyers require brands to understand their personal needs and wants before making a buying decision.

Another thing to think about now is social responsibility values, such as equality, sustainability and community. 84% say that this is important to their buying decision!

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