Here is the brief summary of McKinsey & Co-s latest B2B Pulse research. It clearly shows that B2B buying decisions have moved online.
94% of respondents view today’s B2B omnichannel reality—in which customers buy face-to-face, remotely, and online—as being as effective or more than before COVID-19.
B2B customers now regularly use ten or more channels to interact with suppliers (up from just five in 2016).
Buyers are more willing than ever before to spend big through remote or online sales channels, with 35 percent willing to spend $500,000 or more in a single transaction (up from 27 percent in February 2021). 77% percent of B2B customers are also willing to spend $50,000 or more.
Suppliers will have to fight hard to retain loyalty if customer needs are not met: for example, eight in ten B2B decision makers say they will actively look for a new supplier if performance guarantees (eg, a full refund if a certain level of performance is not met) are not offered.
Source: McKinsey & Co