20 17 B2 B BUYE R ’ S SU RVE Y R E PO RT

Risk-Averse Buyers Expect
Consistent, Personalized Experiences
Throughout Complex Journey
RESPONSIVENESSAND TRANSPARENCYCONTINUE TO BE
KEY FACTORS…
WE WANT TO
STAY AHEAD OF
THE PRODUCT’S
LIFECYCLE…
NEED
BETTERCOMPETITIVEANALYSIS…

SPONSORED BYSURVE Y REPORTEXECUTIVE SUMMARY

The stakes are high for decision makers involved in B2B purchases of solutions
and services. While companies are still highly motivated to find new tools to lower
costs, increase efficiency or drive higher ROI, they are also personally vested inselecting vendors who help best manage risks around factors such as deployment
time, integration and any other factors that may impair business performance ordelay time to value.
According to the findings of Demand Gen Report’s 7th Annual B2B Buyer’s Survey, agrowing focus on risk mitigation is increasing the number of stakeholders involved inbuying decisions, as well as adding length and complexity to buying journeys.
A few of the highlights from the 2017 survey—which polled 283 C-level executives,
VPs and Directors across various B2B industries—include:59%

say they now haveformal buying groups
or buying committees
in place to review
purchases.

• 59% of respondents say they now have formal buying groups or buying
committees in place to review purchases;• 52% say the number of buying group members increased significantly; and• 86% say purchase decisions are often accelerated or put on hold based onchanging business needs/priorities.
While B2B buying has always been noted as a “considered” purchase, theemphasis on consideration continues to climb as survey participants provided
direct commentary on how added attention to risk mitigation is adding
checkpoints and new criteria at different stages of the buying cycle.
One director pointed out that the research and vendor analysis stages now involve
different team members with different points of view. “When we are looking into
implementing a new system, we need to involve those who will be in it to ensure itis easy to use and will actually deliver on what we need. Some of us are involvedin doing the research portion and coming up with a consideration set, so different
people are involved in different phases of the purchase journey.”
One CEO added that team member recommendations are having a strong
influence before getting his stamp of approval. “We plan investments as part ofthe budget cycle (including justification as needed) and then the buying happens
with the right stakeholders doing research and me making the final decision based
primarily on their input.”
The following report provides a deep dive into how risk mitigation and addedcomplexity across the buying journey is changing behavior and influencing thedecision-making process, with specific analysis of increasing relevancy, prioritizing
personalization early in the buying journey, and how buying insights fuel better
sales conversations.

2017 B2B Buyer’s Survey Report• 2

INCREASED RELEVANCE, INSIGHTS A MUSTFOR RISK MITIGATION

A myriad of factors, from smaller budgets to company growth and changes inleadership, have all resulted in increased pressure on buyers to select a solution thatwill deliver in a timely fashion. One respondent commented that their company’s
B2B purchase cycle has changed: “As the company grows and our goals become
loftier, each purchase carries more weight, more risk and costs more.”
Companies are using more resources and analyzing more data to measure ROI:

• 32% of respondents strongly agreed (and 77% agreed overall) that they
conduct a more detailed ROI analysis before making a final decision—
marking an 11% increase from 2016;• 78% of buyers agreed that they “spend more time researching purchases;” and89%

stated that winning
vendors “provided
content that made iteasier to show ROI
and/or build a businesscase for the purchase.”• 75% agreed that they “use more sources to research and evaluate purchases.”This year’s survey also showed buyers are increasingly expecting and demanding
timely and relevant responses from vendors they are assessing.
When asked why buyers selected the winning vendor over others, 75% of buyers
said the winning vendor’s content had a significant impact on their buying
decisions. Also, 89% of respondents stated that winning vendors “provided content
that made it easier to show ROI and/or build a business case for the purchase.”

Please rate the following statements as they
relate to the winning vendor versus other vendors
you considered:

The timeliness of a vendor’s response to inquiries

72%
Demonstrated a stronger knowledge of the solution area and the business landscape70%
Provided content that made it easier to show ROI and/or build a business case for the purchase

60%
Sales team had more insights about our company and needs

59%
Demonstrated a stronger knowledge of our company and its needs

57%2017 B2B Buyer’s Survey Report• 3

US EOS VOLUPTAQUID UNTUMQU IDEBITDOLUPTIBUS, CONSED UTEM IL IN RE
When asked what the vendor could have done better, one respondent asserted
that companies could have given “better competitive analysis and data about why
they were the best option.”
Other buyers had similar comments including: “Be more sensitive towards ourunique needs,” and “provide better competitive analysis, better data about why
they were the best option.”

Deployment time/easeof use is becoming as
equally important tobuyers as the price tag.

Another buyer pointed out his company was looking directly to the vendor for postpurchase guidance. “The vendor could bring specific details of what to watch out
for regarding integration and consulting requirements—they should have a semibaked project plan.”
Surprisingly, deployment time/ease of use is becoming as equally important tobuyers as the price tag, with 80% of buyers ranking deployment/ease of use asvery important, compared to 75% who ranked pricing as very important.
During the evaluation stage, 63% of buyers said the vendor’s ability to demonstrateexperience and knowledge within their industry was very important.

What was your timeline for taking the following
steps in your buying process?
Under
1 Month1-3
Months3-6Months6-12MonthsMore Than
12 Months

Spoke to and engaged with a sales
rep from the vendor I selected

29%

43%

20%

5%

2%

Collected preliminary
information on pricing/costs

33%

39%

19%

7%

1%

Brought in other team members to
help with research process

28%

38%

17%

6%

3%

Sought input from industry
analysts/consultants

19%

31%

15%

7%

1%

Sought input from peers/existingusers in the community

25%

32%

18%

7%

2%

Accepted outreach from vendors andengaged in calls/demos

22%

41%

22%

6%

2%

Sought RFP/competitive bids/pricing
info from a select list of providers

14%

37%

21%

7%

1%

2017 B2B Buyer’s Survey Report• 4

MAKING A FIRST IMPRESSION

The majority of B2B buyers are continuing to self-navigate through early stages ofthe buying journey, which is proving to make digital touch points more influential informing early and lasting impressions of potential solution providers. The researchshowed the overwhelming majority of buyer journeys are starting on the web, with
61% indicating they started with a broad web search and 56% saying they started
on specific vendor websites.
When asked about the timeline for key steps during the buying process, theresearch found B2B buyers are still largely operating under the radar, gathering
intelligence on their options and forming opinions long before they are filling out
any forms or talking with a salesperson.

Buyers still expect a
tailored experience
relevant to theirinterests and needs.

Some of the most interesting findings relative to specific behaviors early in thebuying journey:

During first month

1-3 months

3-6 months

Conducted anonymous
research

34%

37%

18%

Developed informal list of
potential providers

34%

36%

21%

Evaluated which solutions fit
with existing partners

24%

39%

23%

Although a majority of B2B buyers are conducting initial research with raising theirhand or officially engaging vendors, the research showed they are still expecting a
tailored experience relevant to their interests and needs.
When asked how first impressions of a brand were influenced during their initial
visits to their website:• 75% said it was very important that the site presented relevant content thatspoke directly to their company;• 66% said it was very important that the website spoke directly to the needsof their industry and the solution provider showed expertise in their area; and• 93% of respondents valued vendors that “demonstrated experience with/knowledge of our industry.”

2017 B2B Buyer’s Survey Report• 5

US EOS VOLUPTAQUID UNTUMQU IDEBITDOLUPTIBUS, CONSED UTEM IL IN RE
In addition to the first web experience forming an important impression for buyers,
this year’s study showed that online ads are also shaping early behaviors andopinions of B2B buyers.
In a new question that asked if buyers noticed ads from solution providers
and whether those ads influenced company perceptions of that brand, 63% of
respondents said they noticed ads from the solution provider they chose during
the research phase. Thirty-two percent of respondents agreed that they not
only noticed the ads, but that they positively impacted their view of potential
vendors. An additional 31% noticed the ads, but said that they did not change
their perceptions.

63%

said they noticed ads
from the solution
provider they choseduring the researchphase.

When evaluating the resources that first informed buyers of the solution inquestion, there was a 5% increase in the number of respondents who cited “digitalads” and “ads on social media.”

Did you notice ads from the solution provider you
chose presented during your research process anddid they influence your perception of that brand?

32%

Yes, we did notice their ads and it
positively impacted our view of them31%

Yes, we did but it did not change
our perception

31%

No, we did not notice theirpresence via online ads

6%

Not sure

2017 B2B Buyer’s Survey Report• 6DEMANDING VIEWSOPTIMIZING THE WEB EXPERIENCE IS KEY
TO WINNING WITH B2B BUYERS
There are a number of key conversion points in the decision journey, but none
more critical than the first time a prospect visits your website. As this year’s study
reflects, the first two steps on the B2B purchase journey start online, with:• 61% of buyers saying they began with a general web search; and• 56% saying they started directly on specific vendor websites.
Regardless of whether a potential customer navigates directly to your site, or finds
you via search, the ability to provide a compelling, contextual, and customized
experience creates the first and lasting impression of your brand.
Even while a high percentage of those web visits are being conducted
anonymously (71% of buyers said they conducted anonymous research during thefirst 3 months), those decision makers are still expecting an experience tailored totheir interests and needs.

Lisa Ames,
VP of Demand
Generation, Demandbase

Consider that three-quarters of survey respondents said relevant content that spoke
directly to their company was very important when they visited vendor websites, and
66% said a website addressing their specific industry was very important.
Demandbase customers understand these trends and rely on our Website
Personalization solution to create a unique website experience for each and every
visitor, whether anonymous or known.
Customers can customize their websites, creating bespoke imagery andmessaging for key accounts and segments. And now, with the recent introductionof our Site Optimization functionality, they can leverage artificial intelligence (AI) to
automatically recommend relevant content to website visitors at every stage of thebuyer’s journey.
Our AI technology makes recommendations based on a combination of
firmographic data, offsite business/behavioral data, historical traffic data and realtime visitor information—ultimately understanding each buyer and delivering thecontent they need, when they need it.

2017 B2B Buyer’s Survey Report• 7

DEMANDING VIEWS

As marketers, the website is at the core of everything we do, especially as
more and more of us adopt an account-based approach. The website plays an
indispensable role in educating visitors from target accounts and driving pipeline
and revenue. Despite this, companies still struggle with bounce rates that top 60%
on average, meaning that much of their investment in creating valuable content
goes to waste. When prospects get frustrated by the website experience, they turnto outside sources for the content they need—things like blogs, social media, andother websites, which means they’re not consuming your content and you lose theability to control the message, measure activity and drive conversions.
If we want to keep our visitors on our websites, we need to make it easier for themto find the right content. We’re now giving B2B marketers the ability to provide therelevant and targeted experience buyers have come to expect.

“The website is at thecore of everything wedo, especially as more
and more of us adopt
an account-based
approach.”- Lisa Ames, Demandbase

The findings of this year’s B2B Buyer Survey strongly reinforce the importance for
B2B websites to deliver relevant information and content through a seamless user
experience with a level of personalization that comes from deep insights into abuyer’s behaviors.

2017 B2B Buyer’s Survey Report• 8

INCREASED POWER OF PEERS

Another pronounced shift in B2B buying behavior that is likely influenced by risk
aversion is an increased reliance on peer reviews and ratings. A common practicein B2C purchases, B2B buyers are now commonly seeking opinions and input fromother users on things like deployment time, time to value, ROI and ease of use. In
total, 67% of B2B buyers agreed that they relied more on peer recommendations
when making a final purchasing decision.

Once you were at the point of evaluating a set listof solution providers, please rate the importance of
these variables:
Peer reviews

67%
Pricing75%
Deployment time/ease of use

80%
Case studies/testimonials

41%
Analyst rankings

34%
Demonstrated experience with/knowledge of our industry

63%
Connections to executives in your company

31%
Buyer committee approval

48%
Features/functionality

81%
Solved a pain point

81%
Sales team demonstrated knowledge of our company and insights into our problems

59%2017 B2B Buyer’s Survey Report• 9

US EOS VOLUPTAQUID UNTUMQU IDEBITDOLUPTIBUS, CONSED UTEM IL IN RE
Buyers cited their peers and colleagues as the third most important resource(behind “web search” and “vendor websites”) that helped inform them during thestart of the purchase process. Forty-two percent of respondents listed peers andcolleagues as their top source of information.
When asked to rate specific aspects of their purchase process, 24% ofbuyers “strongly agreed” that they relied more on peer recommendations
compared to 2016, where only 12% of respondents “strongly agreed” that peer
recommendations were important.

42%

listed peers andcolleagues as their top
source of information.

One factor that explains the appeal of peer insights for B2B buyers is its
widespread availability. From social media to review sites, buyers today haveaccess to more feedback than ever.
When buyers reached the point of evaluating a set list of solution providers:• 67% of respondents said reviews were a “very important” consideration, a
12% increase from last year.
• Analyst rankings saw a 10% increase compared to the 2016 Report; and• Case studies/testimonials increased by 3% from last year.
One buyer noted, “We have changed the way we do B2B buying by looking at highly
regarded recommendations to help influence decisions. This helps the initialdetermination of purchasing a particular product from a vendor.”2017 B2B Buyer’s Survey Report• 10

INSIGHTS KEY CURRENCY FOR SALES TEAMS

While the study has clearly built the case that digital channels are shaping early
impressions of solution providers, this year’s study also underscored the criticalrole that sales representatives are having on the final vendor selection.
For example, 92% of buyers said the sales rep they dealt with was educatedabout their company and communicated relevant information, and 85% said theexperience with their sales rep influenced their decision to select that vendor.
A few key findings that highlighted the competitive differentiator of insights-driven
sales experiences:• 94% sought sales teams that exhibited specific insights into company
problems; and• 92% of buyers stressed the importance of sales teams that had insights
about personalized company needs.
Direct responses from buyers also underscored both positive and negative
experiences with sales reps that influenced both the buying decision and thecustomer experience:
Communicate with me using less technical terms…not waiting for
responses from me.”92%
felt their sales rep was
educated about theircompany and needs.

85%
said this influenced
their purchasedecision.

Wished they would have been more informative and truly gained an in
depth knowledge of how we do business.”
Could have done stronger demo that included examples of how we could
use the product to meet our unique needs instead of generic examples.”2017 B2B Buyer’s Survey Report• 11

QUICK AND EASY

Not only do buyers want products that help both the bottom
line and specific company problems, they also want ones
that can do it quickly. Nearly all buyers (99%) considered“deployment time/ease of use” as a crucial variable whenrating a solutions provider, with 80% of those buyers citing it
as “very important.”
Eighty-six percent of respondents agreed that “purchasedecisions are often accelerated or put on hold based onchanging business needs/priorities,” meaning solution
providers must be able to provide easy-to-use products that
adapt to the constantly evolving B2B marketing sphere. One
respondent added that companies have a “need for easily
integrated technologies.”

Speed is also a major factor during the research process.
About 91% of B2B buyers said that easy access to content
without long registration forms was important, while 94%
said they preferred vendors that “provided informational
content that was easy to consume.”
The “timeliness of a vendor’s response to inquiries” was an
aspect of the purchasing process that 97% of respondents
cited as important. When asked about how vendors could
improve, several respondents cited the speed of company
response times. One buyer’s comment stated, “Faster
responses when it came to pricing and not needing to ‘checkwith finance.’ Empower your sales reps!”

How has the length of your B2B purchase cyclechanged, on average, compared with a year ago?

41%
32%

17%
9%
1%
Increasedsignificantly

Increasedsomewhat

Stayed the same

Decreasedsomewhat

Decreasedsignificantly

2017 B2B Buyer’s Survey Report• 12CONCLUSION

Throughout the seven years that Demand Gen Report has conducted the B2B
Buyer’s Survey, respondents have consistently valued factors such as ROI,
personalization, timely service and peer reviews in the purchasing process. This
year, however, those factors ranked as especially crucial for B2B buyers.
The buying process continues to get longer and more complex, particularly as
the number of people who participate has increased. Nonetheless, many vendors
have successfully adapted to a constantly changing market and work to satisfy
the needs of B2B buyers. Respondents elaborated that longer timelines are often
being driven by changes in the approval process. “The length is longer these days
since everything needs to be approved by our CFO and sometimes that’s where
things get held up longer.”
While high-growth companies are an appealing target audience for many
B2B solution providers, the research underscored the reality that high-growthcompanies are usually expanding their teams and often have limited bandwidth— adding layers of complexity to getting deals signed and solutions implemented.
“Our team has more than tripled in the past year, so we have a lot more decisionmakers at the table,” one respondent said. Another added: “As the company grows
and our goals become loftier, each purchase carries more weight, more risk andalso costs more.”
In today’s marketplace, risk aversion is key to buyers that often have greater stakes,
smaller budgets and condensed timelines to support business initiatives. Therefore,
B2B buyers increasingly value the insights of their peers and expect vendors tounderstand the specific needs of their company, while keeping in mind the wider
business landscape. When it comes to purchasing new technologies, buyers want
fast and easy service, both in terms of research and product integration.

Buyers want fast andeasy service, both interms of research andproduct integration.

ABOUT THE SURVEY

The 2017 B2B Buyer’s Survey Report polled 283 C-level executives, VPs andDirectors across various B2B industries during the period of April-June 2017. Each
respondent was qualified to have been involved in a B2B purchase decision within
the past 12 months.

What is your title/role?

A majority (53%) were software purchases; others included IT hardware (16%),
advertising/media promotion (12%) and business/consulting services (8%).
Company sizes participating ranged from less than $25 million (28%) tocompanies with more than $1 billion in revenue (18%) and a wide mix in between.
More than half (58%) of the respondents were the primary decision-makers inthese buying decisions, with 31% ranking themselves as influencers.

What role did you play in this purchase?

28%

Director

24%

C-Level24%

Manager

58%

31%

7%

4%

Primary
decision-makerInfluencer/
recommenderPart of a team withequal influence on thepurchase decision

Reviewed andapproved terms

What industry are you in?

35%

13%

12%

11%

10%

High TechBusiness Services

Manufacturing

Professional Services

Other2017 B2B Buyer’s Survey Report• 14

INTERESTED IN LEARNING MORE?

Demandbase is the leader in Account-Based Marketing (ABM). The company
offers the only Artificial Intelligence-enabled, comprehensive ABM platformthat spans advertising, marketing, sales and analytics. Enterprise leadersand high-growth companies such as Accenture, Adobe, Dell, DocuSign, GE,
Grainger, McKesson, Oracle, Salesforce and others use Demandbase todrive their ABM strategy and maximize their marketing performance. The
company was named a Gartner Cool Vendor for Tech Go-To Market in 2016.
415.683.2660
info@demandbase.com

ABOUT THE AUTHOR
Demand Gen Report is a targeted online publication that uncovers thestrategies and solutions that help companies better align their sales andmarketing organizations, and ultimately, drive growth. A key componentof the publication’s editorial coverage focuses on the sales and marketing
automation tools that enable companies to better measure and manage
their multi-channel demand generation efforts.
201.257.8528
info@demandgenreport.com

Matt Halchak is a versatile
writer interested in new
trends, new knowledge, andNew York sports.