B2B buyers say the factors that most influence their purchase decisions are the total cost of ownership and whether a solution supports their business goals, according to recent research from Aberdeen and PJA Advertising.
The report was based on data from a survey conducted in August 2017 among 250 B2B buyers who work in a wide range industries.
Some 45% of respondents say total cost of ownership is one of the two most important factors they consider when making a business purchase; 42% say whether the vendor/solution supports their company goals is a major factor; and 40% cite efficiency/ROI gains.
Asked to select elements besides price and efficiency gains, respondents say the most influential factors on their B2B purchase decisions are how a vendor can support their goals and whether a vendor can help sharpen their competitive differentiation.
Some 42% of B2B buyers say they have paid a premium for a product/solution because it generated a competitive advantage.
Ayaz Nanji is an independent digital strategist and a co-founder of ICW Content, a marketing agency specializing in content creation for brands and businesses. He is also a research writer for MarketingProfs. He has worked for Google/YouTube, the Travel Channel, AOL, and the New York Times.
LinkedIn: Ayaz Nanji