Report reveals how companies must adapt to capitalize on “self-directed” buying behaviors
Candela Partners, a boutique, go-to-market consulting firm serving private-equity, has released the first and largest US-based study analyzing the market shift from a traditional sales cycle to a self-directed journey. B2B Selling in a Self-Directed World, includes proprietary input from more than 150 sales and marketing executives from business-to-business (B2B) companies with global revenue between $100M and $1B. The report highlights the dramatic change in how B2B sales are conducted and carries far-reaching implications for how successful B2B companies must engage their customers to transform changing buying behavior into a competitive advantage.
The rise of self-directed buying in B2B sales
The report’s most significant finding: self-directed buying is changing how B2B products and services are sold. The report defined self-directed buying as the ability for a customer to progress through the sales buying journey independently, without direct interaction with a sales representative. Eighty-five percent of the commercial executives participating in the study responded that self-directed options are essential to provide to their customers and prospects.
“The statistics clearly show that the needs and demands of buyers are shifting to be more self-directed. A company can either ignore that and be left behind or take the right purposeful and strategic steps necessary to factor this into their go-to-market strategy” noted Eric Filowitz, Senior Director of Revenue Operations & Enablement at Hudl.
The report also indicated companies who outperform their peers are much more likely to have implemented some form of self-direction in their sales process. Those companies are also three times as likely to see self-direction as “essential.”
Why are customers changing their buying behavior?
Self-directed buying has already permeated the consumer sector. The explosive growth of the “Amazon experience” has increased expectations of what a self-directed buying experience can deliver in a B2B sales journey. With employees often working longer and more flexible hours, and eschewing salespeople to conduct their own research, buyers are clamoring for more self-directed options.
Technology advancements have ignited the self-directed buying trend. The availability, increasing ease of implementation, and declining cost of technology to enable self-directed experiences have made it easier for B2B companies to deliver on buyer expectations. Companies must now decide how this trend impacts their investments in sales resources.
“Capitalizing on the self-directed buying journey is top of mind for many of the front-line commercial leaders we work with daily,” stated Amy O’Brien-Bird, partner at Candela.
Adapt or fall behind
While many participants in the study reported already implementing self-directed sales processes, they also indicated the trend will continue to grow. Integrating artificial intelligence into the sales cycle will lead to more positive self-directed buying experiences. This means it is not too late for companies to leverage the self-directed buying trend into a competitive advantage. “There is no going back,” said O’Brien-Bird. “This shift significantly changes how buyers engage with sellers of B2B goods and services. Companies need to adapt accordingly,” said O’Brien-Bird.
Candela Partners will release additional insights from the full report in the coming weeks highlighting how business-to-business companies have successfully engaged consumers through self-directed buying. Analysis will be provided in four key areas that developed from the research: Start with the customer, Focus where it matters most, Adapt how you work, and Deploy the right tools to close the loop.
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