Forrester: Generational Shifts Are Disrupting Traditional Business Buying Behaviors And Necessitate Reevaluating Go-To-Market Strategies
Millennial and Generation Z buyers are more demanding, with 90% citing dissatisfaction with their vendors
The results reveal broad patterns among business buyers on a global scale across industries such as finance, high tech, manufacturing, and retail. In addition to studying generational differences in buying, the research examines how different B2B buyer personas such as tech, sales and marketing, HR, and procurement leaders interact throughout the buying cycle, their most relevant interaction types, and their preferred route to purchase. Key insights from the research include:
- Younger buyers carry new demands and expectations for B2B buying. Given their digital savviness, younger buyers are more likely to use self-serve transaction channels than their older counterparts. They are pushing vendors to a variety of self-serve transaction channels, including external marketplaces, app stores, vendor websites, and even through existing products.
- Millennials and Gen Z buyers are active information seekers. While there are many similarities in the way business buyers gather information across all ages, younger buyers go to more sources and find third-party resources more impactful than vendor resources.
- This group is quicker to express dissatisfaction with the buying experience. Younger buyers are more demanding, with 90% citing dissatisfaction with their vendor in at least one area compared to 71% of older buyers.
“Generational shifts in the workplace are turning the business buying process on its head,” said
Resources:
- Learn how Millennials and Gen Z buyers approach the buying process differently.
- Download Forrester’s B2B buying report, Younger Buyers Have Changed The Business Buying Landscape (client access required).
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Register to attend Forrester’s B2B Summit APAC, B2B Summit EMEA and
B2B Summit North America to learn more about changing B2B buying behaviors.
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sagarwal@forrester.com
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