If you’ve ever been searching for research on business-to-business buying behaviors, it can seem like you’re stuck in a maze full of an overwhelming amount of information on consumers around each turn.
To ease our frustration, Marketo and Enquiro Research teamed up to perform some research of their own to discover exactly how businesses make complex purchases.
Yesterday, Jon Miller shared some initial findings from their research at the Marketo blog. Here are a few highlights:
Despite popular belief, business buying is not rational. B2B buyers are self-taught and use a trial-and-error process in their decision making, helping to simplify complex decisions. Instead of dealing with just one irrational decision maker, marketers must deal with an entire group of irrational decision makers, making the buying process that much more complex.
Emotions play a big role. After a purchase, a B2B buyer may not experience the full benefit of their purchase directly or may not be recognized for making the decision and making a poor decision can put that buyer’s job security at risk. Fear drives most B2B buying decisions. “B2B buying is all about minimizing fear by minimizing risk.”
So, it turns out that what we once thought was a strictly linear buying funnel is actually a buying process that may not be logical or rational at times.
Check out the full post for even more great information, including Enquiro’s advice for managing B2B buyer’s perceived risk.