The digital transformation of business continues to reshape the B2B landscape, with immersive technologies at the forefront. Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR) are proven ways to streamline and shorten the B2B sales cycle. And it's not just speculation—studies and statistics are backing up these claims.
Traditionally, the evaluation phase can be one of the most prolonged stages in the B2B sales cycle. According to a Demand Gen Report, 58% of buyers said their decision process is longer now than a few years ago. One reason? The need for detailed product understanding.
However, immersive technologies are changing this. A PwC study found that the use of VR for product demonstrations led to a 40% acceleration in the decision-making process. With AR and VR, clients can get an interactive product experience without the logistical challenges of physical demonstrations.
The B2B sales process often involves multiple stakeholders. The CSO Insights research shows that, on average, 6.8 stakeholders are involved in the B2B buying process. Coordinating with such a group can be daunting.
But with VR and AR, stakeholders across various locations can share a synchronized product experience. This immersive approach not only expedites the decision-making process but also ensures cohesive feedback, minimizing potential project delays.
In sectors like manufacturing and construction, site visits are essential. However, these can be time-consuming and expensive. Capgemini's research suggests that VR-based virtual site visits can save businesses up to 45% of the cost associated with traditional site visits, particularly when factoring in travel and downtime.
A report by Deloitte highlighted that companies incorporating AR/VR in their training modules saw a 30% reduction in training time. Once a sale concludes, the onboarding process can be streamlined significantly. VR or AR-driven training ensures clients are quickly acquainted with the product, signaling a faster end to the sales cycle.
Customization often extends the sales process. However, using AR to visualize real-time product modifications can significantly cut down this time. A study published in The Journal of Business Research found that real-time AR customization led to a 25% faster decision-making process for B2B clients.
Beyond the immersive experience, the tangible benefits of AR, VR, and MR, backed by data, emphasize their indispensable role in the modern B2B sales process. As businesses continually strive for efficiency and optimal customer engagement, these technologies are not just future trends but are current necessities.