fbpx
PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • COVID-19
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • COVID-19
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

New Data From Google Reveals How B2B Buyers Responded to the Pandemic

Steve Murphy by Steve Murphy
September 15, 2020
in Analysts Coverage, B2B, E-commerce
0
New Data From Google Reveals How B2B Buyers Responded to Pandemic

New Data From Google Reveals How B2B Buyers Responded to Pandemic

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

This piece from MediaPost reviews data released by Google from an ongoing study on how marketers are utilizing the various channels since the start of the pandemic. Since lockdowns and work from home rules remain mostly in place, and have been for six months, it may not be surprising to most readers that online marketing channels are busting at the seams in terms of growth and usage among buyers. 

Mercator Advisory Group covered this eventuality in a member report as far back as late 2018, when the move towards consumer experiences for B2B e-commerce was already underway. Now it is being accelerated by COVID.

‘B2B buyers are finding that online video and online search have become more important to find the information they need. In fact, 64% of buyers have increased their use of online video, and 51% of B2B buyers have increased their use of search.…Marketers have doubled their use of digital during the COVID-19 pandemic, compared with sales and offline marketing channels. Their use of online marketing has increased by 88%, and of that total, 45% began using digital for the first time during COVID-19.’

At the time of the indicated report, we found that a surprising number of sellers had not yet formed a comprehensive e-commerce strategy. The demographic change in the workplace literally demands this adaptation. The results of this study suggest that lacking e-commerce capabilities now will be an existential threat, since buyers want online support and an easy experience.

‘Google’s study also suggests that companies must be there for buyers….Some 81% of buyers want to have some level of vendor or salesperson support when they are ready to make a purchase. Three-quarters of buyers say self-service is important to the purchase decision. Some 82% want a user-friendly website, while 74% want an optimized mobile experience, 70% want online or app-based chat, and 66% want one-click checkout.’

To reform the old adage, we’ll say let the seller beware.

‘The level of dissatisfaction is even higher among millennials, who are increasingly key stakeholders in business purchase decisions. Nearly half of 25-to-34-year-olds reported that B2B website experiences delivered below expectations in the past month.’

Overview by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group

Tags: B2BCovid-19e-commerceMercator Advisory Group
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily
    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    Why Complying with New PCI Standards Should Be Your Top Priority

    Why Complying with New PCI Standards Should Be Your Top Priority

    July 6, 2022
    Why Digital Trust Should Be a Top Priority For Banks

    Why Digital Trust Should Be a Top Priority For Banks

    July 5, 2022
    Digitization and Competition are Driving New Go-to-Market Models for Commercial Bankers

    Digitization and Competition are Driving New Go-to-Market Models for Commercial Bankers

    July 1, 2022
    SCA Compliance: Making It Work for Your Business

    SCA Compliance: Making It Work for Your Business

    June 30, 2022
    Fintech Ecommerce Revolution: The Ultimate Trends

    Fintech Ecommerce Revolution: The Ultimate Trends

    June 29, 2022
    Why Banks and Credit Unions Need Multiple Real-Time Payments Options

    Why Banks and Credit Unions Need Multiple Real-Time Payments Options

    June 28, 2022
    Unburdening Financial Institutions from Legacy Payments Systems

    Unburdening Financial Institutions from Legacy Payments Systems

    June 27, 2022
    Digital Enablement Capabilities Enhance the Online Customer Journey

    Digital Enablement Capabilities Enhance the Online Customer Journey

    June 24, 2022

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • COVID-19
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result