We’ve said it once, we’ve said it a thousand times: the way that businesses purchase software needs to change.
That’s why we launched the #WeAreProspects campaign. We think it’s time to simplify the process and give buyers what they want.
And even though we keep shouting this message from the rooftops, we decided to look into this issue further. A lot further.
How large of an issue is this? What do B2B buyers really think about the current process? What do they want to change?
And most importantly, what exactly should sellers be doing differently?
This is what we set out to discover in our survey, “What SaaS Buyers Really Want.”
What did the survey focus on?
The goal of this report was to focus on the people who buy software for B2B.
Because while these humans may be representing a company for a purchasing decision, they’re still just individuals like the rest of us. And we’re all used to the convenient buying processes that have been put in place by B2C companies for years.
That’s why we decided to discover what is really important for them and how that differs depending on their roles and companies. We wanted to understand what they truly care about and what they look at when making their decisions. We also wanted to know their red flags and what obstacles led them to cancel deals.
What did we expect?
We started with this hypothesis in mind: B2B buyers are exhausted by long and complex sales cycles and processes, which are often rigid and generic.
We suspected that buyers want a process that is more personalized, more focused on their specific needs, and that gives them more control.
It used to be that the more “rich” the sales process was with content and touch points the merrier. But that’s not how buyers buy anymore. In the last couple of years, we’ve seen the opposite trend in B2C sales—that people are looking for a lean, short, and to-the-point sales process.
We assumed the same is the case in B2B sales.
What did we do?
We sent out a survey to a large number of SaaS buyers. These people spanned a wide range of roles and departments across tech and non-tech industries in the United States.
The survey was completed by Global Surveys, an independent survey company, and took place during April and May 2022.
The respondents were recruited through a global B2B research panel and the average amount of time spent on the survey was 5 minutes and 42 seconds.
What did we learn?
The current state of SaaS sales is problematic for buyers. Even educated ones.
We found that although 62% of B2B buyers do in-depth research before buying, nearly half (45%) think that the buying process is still too complex.
Likewise, we discovered that a huge part of why buyers lose interest in a product involves issues with the demo, with a whopping 97% saying that a bad demo could lead to a lost sale, and 39% saying that a bad demo has caused them not to buy in the past.
One thing was clear: B2B software sales processes require attention and some updates. Because at the end of the day, whether you’re buying software or a shirt, the buying experience matters.
Want to read more? Download our full survey now for loads of additional stats and data. It’s free!
