B2B Customers Use 10 or More Channels to Interact with Suppliers

Updated: Jan 20

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