⚠️ BEWARE – Your Buyers’ Habits Are Changing… Are You?
We’ve been hearing the clichés for years…
“The only constant is change.” “Adapt or die.” “Change or be changed.”
(I’ve got a long list of them!)
CROs are used to an evolving landscape and are typically adept at adapting to new customer needs. But I’d argue that we’re experiencing a specialmoment in time – one where a number of forces have accelerated to disrupt many of the ‘norms’ we’ve been relying on.
It’s more complex for CROs, of course – they have to operate in both an external and internal world. It’s effectively turmoil squared. The converging forces of complexity, volatility, and disruption affect not only customers, but also the organisations they reside within.
The role of the B2B buyer has changed
Post-pandemic – and amid a mix of macro forces – buyers are:
- More uncertain
- More cautious
- Budget-sensitive
- Laser-focused on outcomes
There’s also been a shift in power dynamics. Buyers are taking more control of the procurement process, reducing the influence of sales. One compelling reason? Extreme dissatisfaction.
According to Forrester’s State of Business Buying 2024 report, more than 80% of B2B buyers are unhappy with the provider they chose at the end of a purchase! And Gartner’s B2B Buying Survey shows 61% of B2B buyers prefer a rep-free experience.
Not exactly a glowing endorsement of the value sales and marketing teams are delivering, right?
This should be a wake-up call. There’s a host of changing dynamics in the buying community that CROs need to: a) understand and b) adapt to
Here are a few worth highlighting:
1. Younger buyers have changed the landscape
According to Forrester, Millennials and Gen Z now make up 64% of business buyers, with Millennials alone accounting for over half.
Further research shows these buyers are highly demanding – and quicker to express dissatisfaction. In short: they’re harder to please!
2. Buyers are more savvy than ever
These buyers live in digital channels, prefer to self-serve, and actively seek out information.
Some surveys suggest up to 70% of the sales journey is completed before a buyer even contacts a seller. That means it’s likely they’ll know more about your product than you do!
3. Buying teams are bigger and more complex
In a typical company of 100–500 people, 7 individuals are involved in buying decisions. In larger orgs? 11 or more – often from multiple departments.
Why? Risk mitigation, complex decision-making, and the ease of digital collaboration.
Translation: Precision matters more than ever. (Yes, hello Account-Based Marketing.)
4. Buyers are busy
Everyone’s stretched. Procurement takes time. And buyers are increasingly selective about how (or if) they engage with salespeople.
Gartner reports that buyers spend just 17% of their time engaging with suppliers – and that’s across all suppliers, not just you!
5. B2B buyers expect a B2C experience
Every B2B buyer is also a B2C consumer. They now expect:
- Frictionless buying journeys
- Personalised experiences
- Value-aligned messaging
Your digital presence, tone, and targeting must reflect that. No excuses.
6. Buyers are more dispersed
Thanks to remote work and global expansion, buyers are everywhere. Face-to-face engagement is harder.
But with digital tools, they can find and engage suppliers from anywhere – your competitors included. Digital visibility and strategy have never mattered more.
So what does this mean for CROs?
CROs need to pause and reassess their go-to-market strategy:
Is our current engagement model still relevant to modern buying behaviour? Are we relying on outdated habits, or adapting to meet buyers where they are – digitally and personally? Are Marketing, Sales and Customer Success truly aligned around the customer?
I hope this gives you something to think about
In my next newsletter, I’ll be sharing some tactical ideas to help you address these “new buyer” challenges head-on. Subscribe to the newsletter here today or learn more about me, Alan Crowther, and Optilium by clicking here.
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