Vision Report: Rethinking Buyer Behaviour
FuturePrint’s Vision Report for 2022 highlights the turbulence, change, and uncertainty that businesses have been enduring, and are set to continue to do so. The good news is that economies have remained remarkably resilient and demand for consumer goods remains strong.
The report takes a look at 2021 in the rear view mirror, but it’s important to reprogram the GPS and make sure we’re on the right path. There is plenty of opportunity for those who are flexible and able to adapt their offerings, but challenges remain ahead for all of us.
Navigating complex buyer journeys
The pandemic has accelerated and intensified existing trends, as cited in McKinsey’s 2020 article, The Great Acceleration. As expected, the aftermath has been bumpy, and buyer behaviour has been affected from both a consumer perspective and in the world of B2B.
The buyer journey has never been so complex, as evidenced by research from Gartner. The Gartner research identifies six buying jobs that customers must complete to their satisfaction in order to successfully finalise a B2B purchase; problem identification, solution exploration, requirements building, supplier selection, validation, and consensus creation. This process is by no means a linear one, and customers are likely to revisit each of these buying jobs at least once.
The importance of a mix of information
The days of relying on a singular channel for information are gone, which means effective thought leadership is more essential than ever. Research shows that B2B decision-makers are using more channels than ever to engage with suppliers.
This of course is a potential catch-22 for B2B events. As businesses become less reliant on larger trade shows to launch products, will the trade shows have less influence on product development cycles?
Changes in buying behaviour
In the FuturePrint and Pack Survey in Partnership with Ricoh, responses reflected the impact of COVID on purchasing and underscored the importance of an omnichannel approach. 64% of respondents stated that all information channels including digital, virtual, and printed, as well as live events will continue to be important in the future. 47% acknowledged that buying behaviour has increasingly moved online, and 37% pointed to webinars as useful lead generation tools.
Download the full FuturePrint Vision Report here.
