77% of B2B marketing decision-makers agree that buyers and customers expect an immediate response to their questions, Forrester says.
The table stakes are rising for B2B sellers from even more demanding digital buyers. And if more B2B sellers don’t up their ecommerce game, they may find find themselves out of the game altogether, says new data and analysis from Forrester Research.
“B2B buying is in danger of becoming a numbers game dominated by procurement professionals, vendor selection checklists, and lowest-price mentality,” writes Forrester. “2022 data indicates that, on average, buyers consider three vendors, only one of which succeeds in winning the deal.”
Business buyers are more restless than ever, and their buying behaviors keep changing, says Forrester.
“77% of B2B marketing decision-makers agree that buyers and customers expect an immediate response to their questions, and 74% agree that buyers expect an experience personalized to their needs and preferences across sales and marketing interactions. Forrester’s Buyers’ Journey Survey, 2022, reveals that 83% of buyers were dissatisfied in one or more areas with the winning vendor. “Organizations that lack a digital sales strategy may fail to meet the needs of their customers. The longer they hold off on creating such a strategy, the more likely they are to lose customers to the competition,” Forrester says.
Forrester is also charting other B2B buyer demands, including:
- 74% agree that buyers expect an experience personalized to their needs and preferences across sales and marketing interactions.
- More than half of buyers responding to Forrester’s Buyers’ Journey Survey, 2022, reported that they used a digital transaction for their purchase.
“Organizations that lack a digital sales strategy may fail to meet the needs of their customers. The longer they hold off on creating such a strategy, the more likely they are to lose customers to the competition,” Forrester says.
Although 59% of employees in B2B organizations say their companies encourage alignment and collaboration between different parts of the business, major challenges persist, according to Forrester’s 2022 data.
“Improving marketing alignment and collaboration with other departments, including sales and product,” was frequently cited by B2B marketing decision-makers as needed to support marketing priorities over the next 12 months,” Forrester says.
CONTENT SOURCE: Digital Commerce 360
NOTE: This content has been curated by Fastener News Desk for fastener industry professionals seeking knowledge and reliable information regarding digital transformation, eCommerce, digital distribution, marketplaces, product information management. All of which provide the customer experience B2B buyers expect today.
What is the fastener industry?
A fastener distributor is a company that specializes in the supply and distribution of fasteners, such as bolts, screws, nuts, and washers, to various markets and industries. These distributors typically carry a wide range of fasteners in various sizes, materials, and finishes to meet the diverse needs of their customers.
Fastener distributors serve a variety of markets, including construction, manufacturing, automotive, aerospace, marine, and many others. Their customers can range from small businesses and repair shops to large industrial manufacturers and government agencies. By providing access to a wide selection of fasteners and related products, fastener distributors help their customers to save time and money by reducing the need to source and stock these items themselves.
Industrial fasteners refer to high-quality fastening products used in construction, automobile, aerospace, and marine industries. The industrial fastener market size has been valued at USD 91.73 billion in 2002. Forecast to reach USD 131.28 billion by 2030. Growing machinery, motor vehicles, and other durable goods production are likely to support the overall market growth due to economic expansion and high investment expenditure. Aerospace fasteners has the highest growth rate with CAGR forecast at 6.5% through 2029.
RELATED CONTENT:
Distribution, Fastener News, eCommerce
