How Has B2B Prospecting Changed Post-COVID? Understanding The Top Trends

There’s no doubt that COVID-19 changed a lot of things. From supply chain shortages to stock market crashes, the pandemic had a big impact on the entire world. And it continues to do so, despite vaccines and public health policymakers helping to keep it under control.

Businesses were also deeply affected by COVID-19, particularly the world of B2B sales. If you sell B2B products or services, it’s important to understand the changes caused by COVID-19 and how your sales team can adapt. In this blog, we’ll take a look at a few of the top post-pandemic changes that have affected both buyers and sellers.

1. Buyers And Sellers Both Prefer Digital Channels Over In-Person Interaction

According to studies by McKinsey, both buyers and sellers now prefer digital channels over in-person interactions. In the past, it was common to make B2B sales in person with a combination of meetings, on-site visits, factory tours, and other such face-to-face interactions.

But now, digital channels are much more popular. According to McKinsey, 70% to 80% of surveyed B2B decision-makers said they “prefer” remote human interactions and digital self-service, and only about 20% of them say they “hope to return” to in-person sales.

Obviously, this shift was necessitated by the impracticality of meeting in person at the height of COVID-19 pandemic. But now, years later, it seems that this change is here to stay. And that’s a good thing for B2B prospecting! 

Compared to setting up in-person meetings, it’s often much easier to get stakeholders and decision-makers to meet remotely. That is, if you can get in touch with them. Which leads us to our next point!

2. It’s Harder To Get In Touch With Decision-Makers By Phone…

The shift toward remote work during COVID-19 has left many office buildings empty. Throughout the U.S., only about 50% of office space is occupied. According to another McKinsey study, office attendance has now stabilized to about 30% less compared to pre-pandemic levels.

This shift to remote work means that it can be harder to reach decision-makers by phone. Many workers have shifted to “softphones” and apps like Zoom or Microsoft Teams – and are no longer easily accessible through traditional office phones. This means that if you rely on cold calls, you may have a harder time getting through to B2B buyers. But that may not be a bad thing!

3. …But Customers Prefer Video Calls Over Phone Calls, Anyway

Even though it’s harder to reach some decision-makers by phone, this may not necessarily be a bad thing. More people than ever prefer to interact with potential B2B vendors through video chat over the phone. According to McKinsey, 76% of B2B decision-makers prefer video conferencing through Zoom, WebEx, Teams, and other platforms compared to phone calls.

So what does this mean for B2B prospecting? It means that it may be better to reach out to customers via email, SMS, or even other channels like social media – and then set up a video call where you can sell your products more effectively.

Related to this point, we also recommend focusing on inbound marketing alongside traditional B2B prospecting. If your website brings in customers via blog posts, demos, or freebies like eBooks, you can collect their contact information and use it to set up a video meeting.

4. Self-Service Online Sales Are Becoming More Popular, Too

COVID-19 led to a rapid spike in eCommerce growth with a 20% bump in 2020 and a steady 8% YOY growth since the early days of the pandemic. And B2B companies weren’t left out of this. 

Today’s B2B decision-makers are more comfortable than ever about purchasing products and services directly from vendors online. Here are some eye-catching stats on how much decision-makers are willing to spend online, again from McKinsey:

• 70% of customers would spend up to $50K

• 32% of customers would spend $50K to $500K

• 12% of customers would spend $500K to $1M

• 15% of customers would spend over $1M

If you have an intuitive, effective, and easy-to-use website, this can be a big boost to your B2B prospecting efforts – and lead to big sales. However, the human element is still important, which leads us to our next point.

5. Live Chat Captures “Hand-Raisers” And Helps Sell Your Products

Online chat interactions have grown by 23% since the outbreak of the COVID-19 pandemic, according to McKinsey. And live chat is an absolutely fantastic tool for B2B prospecting. Why? Because if someone is visiting your website, they’ve established themselves as a “hand-raiser” – someone who is truly interested in your products and services, and who is likely to turn from a prospect into a qualified lead.

By offering real-time live chat to these “hand-raisers,” your sales team can connect with them quickly, gather their contact info, answer questions about your products and services, run demos, make product recommendations, and so much more.

Need Help With B2B Prospecting? We’re Here For You!

COVID-19 changed how businesses sell, and its effects are sure to influence the B2B sales marketplace for years to come. Need help navigating this new era? No matter the size of your business or what you sell, Incept Grows is on your side. 

We offer B2B prospecting services, appointment setting, custom list creation, and everything else you need to keep your business growing. Interested? Contact us online or give us a call at 330-994-1349 to speak to one of our team members and set up a consultation.