B2B buyers are spending more online and they are doing so across more channels, says new ecommerce research from McKinsey & Co.
B2B ecommerce buyers use a variety of resources
A new McKinsey survey of 3,800 B2B executives in 13 countries, including the U.S., finds that 70% of decision makers are prepared to spend up to $500,000 on a single ecommerce transaction.
“At the highest end of the spectrum, however, we see meaningful movement,” according to the report. “The number of decision-makers willing to spend as much as $10 million or more has increased by 83%. This trend holds true particularly in China, India, and the United States, and in global energy and materials (GEM); telecommunications, media, and technology (TMT); and advanced industries sectors.”
B2B buyers use as many as 10 channels to interact with suppliers, McKinsey says. But one channel getting a lot more use these days is B2B marketplaces.
B2B companies winning the most market share are simultaneously employing five major modern sales and marketing tactics, McKinsey says.
The five tactics
- Deploying advanced sales technology
- Increasing hybrid sales teams and capabilities
- Delivering hyper personalization
- Tailoring strategies on third-party marketplaces
- Achieving ecommerce excellence across the full marketing and sales funnel
“They’re developing a sophisticated digital customer experience — especially by leveraging social media, mobile devices, and texting early in the buying process. They’re increasingly facilitating a greater share of their sales efforts through third parties and owned marketplaces,” McKinsey says.
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