In the dynamic world of B2B commerce, understanding buyer behaviour is paramount to staying ahead. Dentsu’s B2B Superpowers Index 2024 offers deep insights into the complex landscape, examining what truly influences purchase decisions. The report, grounded in data from over 25,000 brand experiences globally, highlights three pivotal trends reshaping B2B interactions. The Executive Magazine takes a deep dive into the findings of the report to discover useful insights for B2B buying behaviours and habits.

The Critical Role of Brand Trust

Trust has never been more important in B2B dealings. Dentsu’s findings show that buyers increasingly prioritise brands they can trust, with 77% of buyers emphasising the importance of feeling safe when signing contracts. The rise in importance of trust-related factors, such as being known as a good employer or a thought leader in the industry, underscores this shift. Buyers seek reassurance that a brand’s track record is solid, making it easier to justify decisions to colleagues.

However, there is a stark disconnect between marketers’ perceptions of their branding efforts and buyers’ experiences. While 71% of B2B marketers believe they are effectively communicating a distinct brand position, 68% of buyers feel that many brands sound and act the same. This discrepancy presents a significant opportunity for brands to differentiate themselves by focusing on genuine, consistent brand communication that builds trust and stands out in a crowded market.

Accelerating the Buying Process Through Enhanced Experiences

With the growing complexity of buying groups, decision-making in B2B transactions is becoming increasingly protracted. Dentsu reports a 54-day increase in average decision time since 2021, with the total mean decision time now stretching to 379 days. This delay in decision-making is not just a logistical challenge but has significant financial implications, with an estimated $1.9 trillion in potential economic value tied up in these prolonged buying cycles.

The report identifies key areas where B2B brands can make a tangible difference. By delivering strong initial interactions, providing seamless digital experiences, and maintaining robust human engagement, companies can significantly shorten the sales cycle. Those brands that excel in these areas see their decision times reduced by up to 16 weeks, offering a compelling case for investing in buyer experience improvements.

The Growing Demand for Personalised Experiences

Personalisation is no longer a luxury but a necessity in B2B interactions. Buyers now expect experiences tailored to their specific needs, a trend that Dentsu has identified as a major differentiator between winning and losing brands. Despite this, many companies struggle to meet these expectations. Only around 39% of B2B buyers express high satisfaction with the level of customisation they receive, a figure that has stagnated over the past few years.

This dissatisfaction is particularly pronounced among junior members of buying groups, who often feel their unique needs are overlooked. In contrast, more senior decision-makers report higher satisfaction levels, suggesting that while brands may be focusing on the most influential voices, they risk alienating key gatekeepers. Brands that can successfully scale personalised, account-based experiences will likely emerge as leaders in this increasingly competitive space.

Strategic Implications for B2B Marketers

The findings from Dentsu’s B2B Superpowers Index 2024 carry significant strategic implications for B2B marketers. To remain competitive, brands must enhance their focus on building trust, delivering exceptional buying experiences, and scaling personalised interactions. The report suggests that creativity and storytelling, backed by solid data and technology, are crucial in achieving these goals.

Moreover, the shift towards personal decision drivers over purely professional ones marks a watershed moment in B2B marketing. This change calls for a more nuanced approach, where emotional resonance and alignment with personal values play a more significant role in the buyer’s journey.

In conclusion, Dentsu’s report paints a detailed picture of the current state of B2B buying behaviours, offering invaluable insights for companies looking to refine their strategies and drive success in an increasingly competitive market. As the margins between winning and losing brands continue to narrow, the importance of understanding and adapting to these trends cannot be overstated.