The B2B buying process is long, arduous, and filled with potential roadblocks.
The current purchase process is painfully slow. It can take weeks or even months to schedule a meeting, secure a purchase order, and finalize the deal. It lengthens the sales cycle and increases the likelihood of lost opportunities and frustration on both sides.
To help you, this article breaks down the complex B2B buying process into easy-to-understand steps so that you can make the sale. We explain how to identify decision-makers, build a case for your product, and close the deal.
The Buying Journey can be Complex
The business-to-business (B2B) buying process is the steps that a company takes to purchase products or services from another business.
What makes the B2B buying journey complex?
- The B2B typical buying group often has around eight decision-makers, each with their priorities and budget considerations. Because the stakes are higher, companies want to ensure that everyone VP Maintenance Email Lists affected by the decision is on board with it. It can mean consulting multiple departments, doing extensive research, and comparing shopping.
- Businesses usually have longer time horizons than consumers, meaning they may be more interested in long-term value than short-term gain. Here’s an overview.
The problem recognition stage of the B2B buying process is when a business realizes it has a need that it cannot meet with its current resources. It can be triggered by an internal event, such as a decline in sales, or an external event, like a change in the competitive landscape.
The buyer then begins searching for information to help them understand the problem and identify potential solutions.
- Businesses are often much more risk-averse than consumers because they’re buying on behalf of their company rather than themselves. They have more critical buying jobs. So, they have to be very confident in a purchase before committing to it, making the buying process longer and more complex.
- Businesses often require customization or special features that must be negotiated before the sale can be finalized. It can add more complexity to the process and make it even longer.