Annual Research Shows B2B Buyers Are Nearly 70% Through Their Purchasing Process Before Engaging with Sellers
6sense®, the leading platform revolutionizing B2B revenue generation, today announced the release of its annual 2024 Buyer Experience Report. Produced by the 6sense Research Team comprising former industry analysts, this comprehensive study reveals critical insights into how and when B2B buyers make purchasing decisions across North America, Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC).
The report finds B2B buyers are nearly 70% through their purchasing process before engaging with sellers, with buyers initiating first contact more than 80% of the time. Buyers have made it clear they will only engage when they are ready.
Additionally, 81% of buyers already have a preferred vendor at the time of first contact, and 85% have largely established their purchase requirements before reaching out to sellers. The data show that calling and emailing to ask for meetings will not change when that first engagement happens or with whom.
"Our 2024 Buyer Experience Report reveals critical insights into B2B purchasing decisions across the globe and confirms that B2B buyer behavior is consistent globally, with subtle regional variations," said Kerry Cunningham, Head of Research and Thought Leadership, 6sense. "To compete effectively, marketers must drive awareness and preference early in the buying journey. Traditional demand generation tactics must evolve into integrated strategies that create awareness, build affinity, and secure favorable competitive positioning."
Additional key findings from the report include:
- The average B2B buying cycle lasts 11.3 months.
- The average size of a B2B buying group is 11 people.
- Most buyers (90%+) have had prior experience with at least one of the vendors they considered.
“These insights aim to help revenue teams better engage with buyers, improving revenue production practices and outcomes. This year’s results replicate what we saw in last year’s study, and at a larger scale, which further validates the data we’re seeing from B2B buyers,” added Cunningham.
The 6sense 2024 Buyer Experience Report is now available for download here, and a webinar by Kerry Cunningham to discuss the results will be held on October 15th.
About 6sense
6sense is on a mission to revolutionize the way B2B organizations create revenue by predicting customers most likely to buy and recommending the best course of action to engage anonymous buying teams. 6sense Revenue AI is the only sales and marketing platform to unlock the ability to create, manage, and convert high-quality pipeline to revenue. Customers report 2X increases in average contract value, 4X increases in win rate, and a 20-40% reduction in time to close deals. Know everything. Do anything®, with 6sense.
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