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4 Stats That Show How B2B Buyers Suffer From Information Overload (And Why The Salesperson Is As Critical As Ever)

Consider these stats:

  • In 1991, Tim Berners-Lee, founder of the world wide web, published the first website (info.cern.ch). Ten years later there were over 29 million websites and today there are over 1.8 billion.
  • Google, when launched in 1998, processed around 10,000 searches a day. It now receives around 2.5 billionqueries a day.
  • Last year there were over 600 million active blogs. 70 million new blogposts are published each month on WordPress. Nearly 80% of the Fortune 500 uses a corporate blog to communicate to their customers.
  • There are 57 million companies on LinkedIn. 2 million posts, articles and videos are published on the platform every day.

It’s all a far cry from the pre-internet days when information was scarce and a client’s ability to compare one supplier against another was limited. Today the pendulum has swung so far in the other direction that there is now too much information out there. The result is information overload for buyers. Buyers report that two-thirds of their buying journey is spent on gathering, processing and deconflicting information.

In addition, the word “buyers” is no longer correct. Buying groups are increasingly common in B2B sales. Research from Forrester shows that 63% of purchases involve four or more people, each of whom is likely to represent a different department and to play a different role in client decision-making.  With numerous stakeholders involved on the buyer side, each independently uncovering information from different sources, it is easy to see how buyers find it difficult to find agreement between themselves about how to proceed.

It falls to the salesperson (consultant, account manager) to help clients to make sense of the information they have uncovered, to help them to deconflict contradictory evidence, to challenge their thinking and to coalesce them around a solution.  Doing so enables the salesperson to demonstrate their knowledge, to establish credibility and to create that trusted partner relationship that creates the right environment for a sale to proceed.

Jim Bloomfield is a Director of Bloojam Consulting with 20 years’ experience of using business psychology to develop salespeople and leaders. He is a member of the Association of Business Psychology (ABP) and the British Psychological Society (BPS) and has successfully helped some of Britain’s best-known businesses exceed their sales goals.

Blogs Business Consulting Professional Services Sales Leadership

The UK has a Skills Shortage in B2B Selling

The latest report from the All-Party Parliamentary Group (APPG) for Professional Sales demonstrates just how critical the sales profession is to the performance of the wider UK economy; 80% of UK businesses make part or all of their turnover from selling to other businesses.

The report acknowledges the profound impact that the Covid-19 pandemic has had on many businesses through the acceleration of the “digital revolution in how we trade and exposure of an acute skills shortage in professional business-to-business selling.”

Whilst the report highlights that businesses have had to quickly adapt to digital selling, it also recognises two much more long-standing issues: the lack of sales skills and leadership skills.

As the report argues, if companies do not train staff in how to sell, then digital technology will not confer much advantage, and may even be counterproductive.

Whilst investment in digital sales channels may grab all the headlines (and the investment), it is increasingly clear that the human element will remain crucial to effective selling. Too many businesses ignore the development of sales skills and capabilities at their peril.

Read the full report here.