Barrier #1: The perceived quality-speed tradeoff

Key idea: B2B marketers perceive an unavoidable compromise between FAST decisions and QUALITY decisions

• Historically, research to understand prospects has been time consuming and costly (see barrier #2), as research providers needed to recruit for statistically representative samples of populations
• Today, 26% of B2B marketing decision-makers surveyed say “we don’t have time for research”
• Thus, while 93% of B2B marketers surveyed see the value in understanding buyers (prospective customers), less than one third believe they understand them very/extremely well

Solution: Balancing good enough with fast enough is actually more achievable than it ever has been before.

In many cases, social media, online communities and “always-on” buyers have placed “research participants” a simple mouse-click away from marketers trying to understand them.

Barrier #2: The pressure of empty pockets – this is same as Barrier 1, but with respect to COSTS vs. TIME

Key idea: Respondents cite budget constraints as a key barrier to leveraging new knowledge and research insights to aid decision-making

• Historically, research to understand prospects has been time consuming and costly, as research providers needed to recruit for statistically representative samples of populations
• Today, 55% of B2B marketing decision-makers surveyed say “we don’t have the budget for research”
• Thus, while 93% of B2B marketers surveyed see the value in understanding buyers (prospective customers), less than one third believe they understand them very/extremely well

Solution: There are many inexpensive ways to interact with customers/prospects to gain needed insights, including:

• Talking to your current customers via visiting retail locations or dealers, or listening in on customer service calls/customer interactions
• Leveraging free analytics tools like Google Analytics
• Listening on social media (blogs, social media posts, online/LinkedIn communities) to relevant industry, competitive or brand commentary.

These insights can also give you content ideas that you can address via your portfolio of offerings and marketing programs.

Barrier #3: What to do with what you have (meaning the budget you have)

Key idea: (if you have a limited budget, put it against the most important types of decisions so you have more confidence in them) Survey respondents indicate it’s worth investing time and money in research to feel confident about certain decisions

One of these is designing a website experience: Of respondents, less than 50% believe their company’s websites are engaging; and less than half find their website very/extremely valuable in achieving company objectives

One of these is designing a website experience: Of respondents, less than 50% believe their company’s websites are engaging; and less than half find their website very/extremely valuable in achieving company objectives.

Also, the majority of respondents believe their company would benefit in the following ways from having a more buyer-centric website experience:

• Improved buyer engagement (69%)
• Improved lead gen (69%)
• Improved lead nurturing (57%)
• Drive more revenue (50%)

Solution: allocate your resources wisely; for example, in designing an engaging, buyer-centric website

See the full report for 9 best practices to develop a buyer-centric B2B website experience.

Barrier #4: The complexity conundrum

Key idea: Survey respondents would like to be able to leverage new knowledge and research insights to aid decision-making, but the complexity of the B2B buying journey is a barrier

77% of B2B customers rate their purchase experience as extremely complex or difficult (Gartner)

Other factors that contribute to the complexity of the B2B buying journey:

• Lengthy buying cycles (spanning months, years, even decades)
• Multiple internal and external parties (sales, distributors, retailers and more – potentially around the globe)
• Involvement and influence of multiple decision-makers and approvers
  • The typical B2B buying group includes 6-10 stakeholders, each of whom has consulted four to five information sources (Gartner study)

Solution: there is one highly controllable component of B2B buying behavior that B2B marketers can leverage – their website

• 56% of B2B buyer journeys start on specific vendor websites (citation 5 in report)
• 46% of buyers say they would be willing to buy from a supplier’s website if the option were available and the service efficient (citation 6)

Barrier #5: The Clash of Bureaucracy and Objectives

Key idea: survey respondents identified the following top 3 obstacles to faster decision-making in their organizations:

• Too many decision-makers (63%)
• Lots of bureaucracy (63%)
• Lack of clear objectives (35%)

Solution: To be successful, organizations need to get out of their own way.How? take these steps:

• Ensure alignment with leadership by understanding how buyer insights help achieve organizational goals
• Use this context to frame requests for insights appropriately
• Find a champion who is in a position of influence who can help frame up and request research to obtain insights
• Listen to feedback to understand how to pivot if the answer is “no”
• Negotiate and determine a new approach that is more in line with leadership goals if necessary
• Report back to leadership on the insights you have learned and how they helped the company meet objectives