What started out as a crisis, has turned into a major opportunity for sellers globally.
In this short piece I am going to share some facts from a recent study conducted by McKinsey that all sellers should pay careful to attention to.
In this study you will discover what real life B2B buyers are saying, and why there is much opportunity to be grasped with both hands in this new world of online selling.
Three quarters of buyers and sellers prefer online
First things first – more than 75% of B2B buyers and sellers say that they prefer digital self-serve and remote human engagement over face-to-face interactions. Only 20% of B2B buyers interviewed said that they wanted to go back to face-to face interactions post-pandemic.
Their motivations? Health, safety, and ease of scheduling were the primary reasons, but time saving, efficiency and convenience also featured on the list of benefits to both buyers and sellers.
BIG purchases happen online
Traditionally we have believed that buyers favored online for smaller transactions, but this is not the case according to the McKinsey study.
Big purchases and when I say big, I mean more than $ 50,000 and larger, are happening online and the ease at which B2B buyers are showing their pleasure at making large new purchases and reorders online is remarkable.
70 percent of B2B decision makers say they are open to making new, fully self-serve or remote purchases in excess of $50,000, and 27 percent would spend more than $500,000. Sellers who are able to engage in world class remote selling online are likely to pay a high price.
Video and live chat pave the way for the future
Video and live chat have become critical, not only for prospecting but also for interacting with and closing sales with B2B customers, and as these increase in popularity, in-person meetings and related sales activities have dropped.
Since April 2020, the amount of revenue generated from video-related interactions has jumped by a whopping 69 percent and shows no sign of slowing down.
The future is digital, and upbeat
According to this survey, the majority of people interviewed agreed that the COVID19 pandemic-induced patterns are likely to become permanent. Around nine in ten decision makers say that new commercial and go-to-market sales practices will be a fixture throughout 2021 and possibly beyond.
The link to the full report is HERE…
Welcome to the future – are you ready for it? Digital, virtual, or online sales and ways of doing business are here to stay and this new world of opportunity awaits.
Next week I will be diving a bit more into this new world, what really is going on out there, and how you, your sales team and your product can step forward into the spotlight in this remote world.
Chat soon, Shelley!