The demographic of B2B buyers has shifted dramatically over recent years. Almost half of today's B2B buyers are considered millennials, in comparison to the 27% of millennials who were B2B buyers in 2012. This is just one of the key findings from a recent B2B Path To Purchase study from Google.
The study, fielded in conjunction with Millward Brown Digital, surveyed approximately 3,000 B2B buyers about their research and purchase habits as well as their use of digital tools during those processes. One of the common misconceptions highlighted in the article is the role of mobile devices in the B2B buying process. The study shows that 42% of researchers use a mobile device during the B2B purchasing process, and a 91% growth in mobile use throughout the entire path to purchase.
B2B buyers are also buying through mobile devices, according to the study. Purchase rates on mobile are up 22% in the past two years. "Considering the amount of time they're spending on their smartphones, it's important that you provide them with rich mobile experiences," according to a recent post on the company’s blog spotlighting the research.
Other findings from the study include:
- 81% of B2B buyers not in the C-suite have a say in purchase decisions;
- B2B researchers, on average, perform 12 searches prior to engaging on a specific brand's site; and
- 70% of B2B buyers view video content throughout their path to purchase, a 52% increase over the past two years.