What is a Buyer Journey for B2B SaaS Companies?
The B2B Buyer Journey encompasses the steps that a buyer or a team of buyers takes during the purchase of a solution. It begins with a point of “curiosity” or “pain” and concludes when the buyer...
The B2B Buyer Journey encompasses the steps that a buyer or a team of buyers takes during the purchase of a solution. It begins with a point of “curiosity” or “pain” and concludes when the buyer purchases the solution.
In B2B sales, the term “Sales Cycle” is commonly used. However, the buyer’s journey is a broader concept, including and extending beyond the sales cycle. This journey can vary from a couple of months to years, depending on the product and the people involved in the buying committee.
Typical Buyer Journey:
1. Awareness:The buyer recognizes a problem or opportunity.
2. Research:The buyer explores potential solutions and gathers information.
3. Evaluation:The buyer compares different products and vendors.
4. Decision:The buyer selects a solution and negotiates terms.
5. Purchase:The buyer finalizes the purchase and begins implementation.
Visual Representation of a Sample Buyer’s Journey.
Example: “Booking the DEMO Meeting”
The Buyer’s Mindset:By this stage of the journey, the buyer is usually at an advanced stage (around 70%) and already has a shortlist of vendors they want to talk to. This is because no one has the bandwidth to talk to every vendor in a category. If the buyer is talking to you, it means they are ready to engage. Here are some likely truths about the buyer by this time:
- They are roughly at the 70% mark of the journey.
- Your company is part of the shortlist of vendors they want to evaluate.
- They have budget, authority, need, and time. Note that your team will still need to ask the right questions to gauge these factors, as they will vary from one buyer to another.
- They are comparing you to other vendors on the list.
- Their goal is to find a clear winner to simplify decision-making.
Designing the Perfect GTM Experience for this stage:While this might look simple, It’s actually super complex to design the perfect experience for this stage. It involves multiple teams (Website, SDR, Sales, and SC), multiple goals (e.g., fair routing to the right sales rep), and multiple parameters (cost to sale, win rate, etc.) to optimize.
Therefore, understanding your brand’s buyer journey is crucial to designing the perfect GTM experience. It helps B2B SaaS companies tailor their marketing and sales strategies to better meet the needs of their prospects, ultimately leading to more successful conversions.
Relevant Resources:
- What B2B Buyers Want, and Ways to Align Your Customer Journeys
- B2B Buyers Don’t Want to Be Sold, But They Do Want to Buy…. In Their New Way
- Its (Nearly) Over Before You Know It — Kerry Cunningham
Written by Abhishek Gutgutia
A life-long entrepreneur, Abhishek has founded and led several companies, including architecting and building MediLedger, a blockchain for the Pharma industry in use by Pfizer and others. He holds a MS from University of Michigan and MBA from Kellogg School of Management.
