What are buying groups?
Buying groups are important in a variety of ways, but the first step is to understand what they are and their purpose. Buying groups are exactly what they sound like: a group of individuals involved in a purchase decision process. Nowadays, more than one buyer is almost always involved in making a B2B purchase decision. In fact, most B2B buying decisions involve at least four people. Identifying and engaging all the individuals who participate in the buying process and impact the purchase decision, the buying group, is critical when trying to boost conversions through the funnel.
In addition, the key personas within buying groups have different roles, and they’re influential at various stages of the funnel. For example, if you’re buying a technology solution for your firm, you should consult and discuss this with various departments and your team members before investing in it. You can’t make this type of decision on your own. Instead, it’s essential to gain confirmation from all team members (personas) who might be affected by this decision.
Now, let’s dig into the ways in which intent data helps marketers identify B2B buying groups.