Looked at holistically, the way B2B customers ‘buy’ has changed, and changed dramatically.
Time spent engaging with an actual sales person has dropped significantly. Of the time spent in making purchase decisions as little as 5% will be spent talking with sales. Pre the online world the number would have been closer to 80%. The majority of time is spent in online research.
The old model of marketing, finding the prospects and sales converting, is not so clear cut anymore. In many organisations sales are engaging in activities that were traditionally thought to be the domain of marketing.
We all know the value of existing customers, and that they are often the best source of growth. But, in the digital age, they will also be continuously exposed to alternative providers.
Even if you are not looking for business improvement, your competitors will be.