I'm not expecting this article to teach you anything you don't already know; buyers invest a lot of time and energy into the purchasing process and the larger the contract - the longer time spent evaluating the various options available to the buyer and perhaps most importantly; researching the options and the company.
As marketeers, we can react to this by creating automated sales funnels which nurture potential buyers through the process, serving them with valuable information throughout their journey, helping them throughout their buying process.
The data shows us that if you're the organisation providing a wealth of resources and data, you're most likely to win the work!
I'd love to talk more to B2B organisations who pitch for work over £25,000 and want to generate more leads through their digital channels - hit me up if you fall in to this category!
Buyers invest a lot of energy into the purchasing process. The time prospects invest in the buying process is directly correlated with the size of the purchase. But on average, buyers invest 86 hours choosing a B2B partner. These decisions also involve multiple people. Smaller purchases (less than $25,000) usually involve 33 hours across and involve fewer than four people. Enterprise purchases ($500,000 and above) take four times longer, and a team that is 50% larger.