This economy holds great opportunities for mid-market companies selling B-to-B. It’s not too hot, it’s not not too cold. It is a perfect environment for opening new revenue channels in a measured and profitable manner. However, many mid-market companies are reluctant to take advantage of new opportunities because they are experiencing challenges in bringing in new business from the products and services they sell right now.
This is a result of a significant change in prospect purchasing habits which are demanding new skill sets on the part of mid-market companies. We saw these buying trends develop among consumer shoppers and now we are seeing them steadily creep into the B-to-B buying process resulting in a serious dampening of revenues.
The B-to-B purchaser is pre-shopping online. On average, today’s purchaser is 57% through the purchase decision process by the time the buyer wishes to speak to a sales rep. In many cases they are 70% through the buying process and this is regardless of price point, purchase complexity and incumbency (according to a joint Google/CEB survey of 1900 companies).