Online Reviews Precede 75 Percent Of B2B Software Purchases

With new data suggesting that 75 Percent Of B2B Software Purchases happen right after a B2B buyer reads an online review, the importance of having products reviewed—and being ready for being reviewed—is crucial, reports a story in Business2Business Community.

Another stat from the study: 87 percent of large companies consult online reviews.

“Overall, online reviews make an impact on the buyer decision.However, large businesses are more likely to take action from online reviews than smaller businesses. Some 87 percent of companies with 500 full-time employees were more likely to consult online reviews before purchasing software than buyers from smaller businesses (70 percent). Online reviews expedite the buying process by three months,” the story noted. “B2B software is a space notoriously known for it’s lengthy sales cycle, however, enterprises are starting to make more informed decisions as a result of consulting reviews, which is expediting the process. About 63 percent consulted reviews when building a shortlist of software products to evaluate.”