NEW YORK (PRWEB) July 23, 2020
Mission Control Marketing, a strategic B2B marketing agency, today released an original research report, Driving B2B Sales in 2020: The Definitive Guide for Understanding the Mindset, Intent and Journey of the B2B Buyer to Drive Your Sales Team to Success. Based on a survey conducted by Mission Control Marketing in partnership with market research firm Researchscape International, the report delves into how the current global economic situation resulting from the COVID-19 pandemic has impacted the B2B buying cycle and these organizations’ intent to engage with new and existing vendors in 2020 and 2021.
“There have been several studies published on consumer trends and buying intent right now, but the purchasing ability of businesses have also been significantly affected by the pandemic,” said Elliot Schimel, CEO, Mission Control Marketing. “As we enter what has traditionally been peak planning season with evaluation of vendors for the year ahead, this research set out to gain an in-depth understanding of the current state of the B2B buyer.”
In the report, Mission Control Marketing provides the answers to some of the most pertinent questions for B2B organizations today, including:
- Will B2B buyers be open to new vendors in 2020 and 2021?
- What will be the key factors in evaluating new vendors?
- What is the best strategy for business growth in 2020 and 2021?
The research report is based on the responses of hundreds of senior level executives who are directly involved in selecting new vendors at large and mid-sized B2B companies, surveyed during June and July 2020.
Some key findings include:
- Analysis of Current Budget Challenges: 55% of B2B buyers had to cut budget in 2020, while 47% reported that their organizations have halted all engagements with new vendors.
- Plans for Evaluating and Engaging Vendors: 41% of B2B buyers won’t be ready to evaluate new vendors until 2021 at the earliest, with 37% reporting plans to kick off new engagements in Q2 2021.
- Key Factors for Evaluating New Vendors: Quality, past results, and affordability, respectively, are the three most important factors for B2B buyers in evaluating new vendors.
“Unlike previous recessions or economic downturns, individual companies have been impacted by the pandemic crisis differently, based on factors like geography, industry and product offering,” added Schimel. “The current landscape for B2B sales is complex and will remain so heading into 2021. The key for successfully navigating this unprecedented and uncertain time is to have a unified strategy between marketing and sales that is laser focused on the opportunities that can lead to real business growth.”
To download a full copy of the report, visit: https://www.missioncontrol.marketing/driving-b2b-sales-in-2020
About Mission Control Marketing
Mission Control Marketing is a strategic marketing agency. We partner with B2B brands to develop and execute holistic marketing campaigns, and measure our success by the results that lead to tangible business growth for our clients.
Through our collaborative process, we work with clients to understand their business, and in turn create customized campaigns that will drive the most value, whether that’s a media relations campaign, thought leadership program, website redesign, email marketing reboot, or any sort of customized combination thereof.
To learn more about our work and approach, visit us at http://www.missioncontrol.marketing