GARTNER, INC.

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Delayed Nyse  -  04:03 2022-08-05 pm EDT
295.44 USD   +0.74%
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Gartner Sales Survey Finds 83% of B2B Buyers Prefer Ordering or Paying Through Digital Commerce

06/23/2022 | 05:55am EDT

Eighty-three percent of B2B buyers say they prefer ordering or paying through digital commerce, according to Gartner, Inc. A Gartner survey of 725 B2B buyers from November through December 2021 found that digital commerce has rapidly become the norm and the preferred way to complete B2B purchases.

Currently, the two levers available to commercial organizations - digital commerce and sales rep interactions - are failing B2B buyers and eroding commercial value. Compared to traditional buyers, digital commerce buyers are significantly more likely to experience purchase regret. When buyers report their purchase process was primarily led by sales reps (as opposed to self-navigated), they make lower-quality purchase decisions. Only 24% of B2B buyers in primarily sales rep-led purchases completed a high-quality deal, versus 65% of B2B buyers who self-navigated the purchase process.

"Today's chief sales officers (CSOs) often feel torn trying to solve these problems by either retraining reps to win over digitally inclined buyers or cutting out sellers entirely to go all-in on digital sales," said Craig Riley, chief of research in the Gartner Sales practice. "A new approach is needed that combines digital and human engagements to help buyers feel more confident in their decisions and drives high-quality deals."

Ultimately, digital and sales rep underperformance have a common root cause: ineffective customer learning. Too often, digital experiences and seller engagements encourage shallow, "good enough" learning. Most digital experiences are designed to make it easy for customers to follow through on their decisions, even when they are misguided. Likewise, sales reps often oversimplify their recommendations and encourage buyers to move forward without a full understanding of their own needs.

Overcoming "good enough" learning requires suppliers to create self-reflective learning paths that integrate digital and human-led channels in service of deepening customers' understanding of their own needs. When buyers experience a self-reflective learning path, they are 147% more likely to buy more than originally planned. This combination of digital and human-led channels is critical to sales success because when B2B buyers report that sales reps effectively use technology to facilitate buying group discussions, a 17% lift occurs in customer confidence, which leads to high-quality deals.

Gartner recommends CSOs explore the following actions to successfully evolve their sales strategy:

- Bring together sales and marketing leaders to set a multichannel strategy for customer learning paths, including account-based campaigns and digital sales playbooks.

- Rethink the role of digital engagement by building digital sales tools for real-time collaboration with customers.

- Equip sales reps with probing questions and decision support tools to help buyers learn more effectively and make confident decisions.

Gartner for Sales Leaders can learn more in the report:Create Customer Learning Paths to Unlock Digital Sales.

About Gartner for Sales Leaders

Gartner for Sales Leaders provides heads of sales and their teams with the insights, advice and tools they need to address mission-critical priorities amid mounting pressures to drive growth through new and existing customers. With extensive qualitative and quantitative research, Gartner for Sales Leaders helps sales teams combat commoditization and price-based purchasing, develop critical manager and seller skills, elevate the value of sales interactions, unlock existing growth potential, and optimize sales force enablement. Follow news and update from the Gartner Sales practice on Twitter and LinkedIn using #GartnerSales. Members of the media can find additional information and insights in the Gartner Sales Newsroom.

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(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2022 5 389 M - -
Net income 2022 648 M - -
Net Debt 2022 1 730 M - -
P/E ratio 2022 36,9x
Yield 2022 -
Capitalization 23 368 M 23 368 M -
EV / Sales 2022 4,66x
EV / Sales 2023 4,15x
Nbr of Employees 16 600
Free-Float 46,9%
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Number of Analysts 9
Last Close Price 295,44 $
Average target price 327,75 $
Spread / Average Target 10,9%
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Managers and Directors
Eugene A. Hall Chief Executive Officer & Director
Craig Warren Safian Chief Financial Officer & Executive Vice President
James C. Smith Director
Michael Diliberto Chief Information Officer & Executive VP
William Otto Grabe Independent Director
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