37% of buyers wish to kick off new engagements in Q2 2021.
This article cites a report by Researchscape International which studied how the B2B buying cycle has been impacted by the pandemic in 2020. In this year, 55% B2B buyers have cut budgets and 24% had to cut their existing vendors.
Another 45% of B2B buyers have paused projects or work with existing vendors. At the earliest, 41% of B2B buyers will only be ready to evaluate new vendors in 2021 or beyond. 33% would do so in Q3 2020 and 26% in Q4 2020.
Quality, previous experiences and results and affordability are the key factors on which new vendors would be evaluated. Secondary factors are industry expertise and past relationships with vendors.
[4 minute read]