Can’t we just all agree?
Perhaps unsurprisingly in a world that’s shifted to hybrid and remote working, B2B sales are now taking longer than ever. Over half of our respondents (52%) agreed – with 18% saying it was now taking a lot longer to make a purchase.
Sales are taking longer
Fifty two% agree
Eighteen% say it is now taking a lot longer to make a purchase
Part of this is the result of finding consensus between multiple stakeholders with differing agendas (likely magnified by the challenge of getting people together when many are working remotely). Some 56% of respondents told us that it is now more difficult to gain agreement across multiple decision-makers.
say it’s more difficult to gain agreement across multiple decision-makers
But that’s not the whole picture. The majority (55%) of buyers are also considering more vendors for each purchase. This will inevitably add more time to the process as suppliers and products are assessed.
of buyers are considering a larger number of possible vendors for each purchase
Interestingly, this was magnified even further when seen from a marketing perspective. Some 78% of marketers in our research say it’s now more difficult to get agreement on sales. Over half (56%) say it’s now a lot more difficult. Why the difference?
Well, if you’re not one of the two or three leading brands that will always make the shortlist, you’re likely to find yourself jumping through more hoops to get into the consideration set. And you may also be kept in the running longer as a bargaining chip while buyers try to push down the cost of purchase. More work. More time. Lower chances of success.
How will you know? Check your historical closed:won reports – if they’re heading south, you’ve got an issue.