B2B Sales Trends Pushed By Global Pandemic

It is no surprise that B2B sales are deeply affected by changes in society that lead to changes in consumer behavior. COVID-19 and global lockdowns have undoubtedly influenced the way consumers perceive brands and interact with brands.

1. Digital Fear Is Gone

Today’s B2B buyers demonstrate maturity in digital sales as they seem to confidently make large purchases and reorder online.

A majority of business decision-makers are open to new, fully self-serve or remote purchases of $50,000 or more; a further 27% are open to purchases exceeding $500,000. E-commerce is no longer limited to small-ticket items and fast-moving parts.

As a result, this shows that online remote selling is as effective, if not even more than in-person sales. The majority of sellers agree as they believe digital prospecting and social selling are equally effective.

2. Digital Is The Way To Go Now 

If businesses wanted to continue offering their products and services and survive during this pandemic, the shift to go online was crucial.

There is no doubt that the new digital reality will persist. According to a survey, more than 72 percent of buyers and sellers say they prefer digital, self-directed service and remote human interactions, over in-person meetings now. This trend is likely to continue post-pandemic, even after lockdowns come to an end.

In the wake of the global COVID-19 pandemic, B2B companies in every industry have transitioned from being ‘forced’ into digital adoption to a growing belief that digital is the way to go. In B2B, over 80% of buyers say they don’t want to engage in face-to-face interactions anymore.

3. Optimistic Digital Future 

According to a research survey, nine out of ten decision-makers globally say their new digital sales practices will remain in place well into 2021 and beyond. More and more businesses from various industries have now shifted to an online space, offering their products and services remotely.

4. Video And Live Chat Take Precedence 

In a massive push towards digital transformation, COVID-19 and a global pandemic made videos and live to chat the most prevalent channels for closing B2B sales. Customers have also made it clear that they now prefer video to phone communications.

Statistics indicate that 43% of all B2B revenue is directly derived from e-commerce and video conferencing. As of April 2020, a 69% increase in revenue related to video-conferencing was recorded.

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