Navigating the labyrinth of B2B buying in APAC

The world of B2B purchasing has never been more complex, especially in the Asia-Pacific (APAC) region. According to Forrester's recently published "State Of Business Buying, 2024," 81% of buyers express dissatisfaction with their chosen providers after purchasing.

This dissatisfaction is rooted in many challenges that complicate the buying journey, including tight budgets, generative AI (GenAI) influence, negative buying experiences, and elongated purchase cycles.

As buyers increasingly rely on self-service tools and autonomous interactions, providers' need to adapt their go-to-market strategies becomes paramount.

The Top Six Interaction Types, according to Forrester

The changing landscape of B2B buying

Forrester highlights that 86% of B2B purchases stall during the buying process, further compounding the frustrations felt by buyers. The report emphasises that while buyers appreciate the autonomy of self-service tools, they also crave a deep understanding from providers regarding their challenges and a collaborative approach to decision-making. In this environment, the role of sales teams is evolving from mere sellers to valuable partners in the buying process.

As providers look to enhance their offerings, they must take several specific actions. Preparing for the integration of GenAI is crucial, as nearly 95% of buyers anticipate using GenAI in their decision-making processes within the following year.

Additionally, it is essential to shift from a sales-centric approach to one that genuinely assists buying groups. The report notes that an average of 13 individuals within an organisation are involved in the buying decision, with 89% of purchases requiring input from two or more departments.

The role of influencers in B2B purchases

Another critical aspect of Forrester's findings is the importance of managing external influencers. Buyers often seek validation from their networks before making significant commitments. Providers must, therefore, build robust influencer programmes that enhance their credibility within these networks. This is particularly relevant in the APAC region, where younger buyers are increasingly at the forefront of purchase decisions.

Mavis Liew, Forrester executive partner & principal analyst, notes that younger buyers possess unique needs and expectations, making it essential for vendors to adapt their strategies accordingly.

The price of efficiency

As we look towards 2025, a pressing question arises: will pricing become more critical for APAC buyers? Historically, APAC B2B buyers have focused less on pricing when shortlisting vendors, prioritising the capability of providers to meet their specific business requirements. However, as negotiations approach, pricing inevitably becomes a focal point.

"Pricing has never not been important for APAC B2B buyers; the distinction is where that importance comes into play, and 2025 might see a shift of the pricing importance to earlier in the buying cycle than 2024." Mavis Liew

This shift could prompt buyers to evaluate cost considerations alongside efficiency from the outset rather than waiting until the negotiation phase.

Furthermore, the emphasis on return on investment (ROI) is expected to remain a cornerstone of purchasing decisions. "While every enterprise instinctively evaluates ROI, the metrics defining 'R' in 'ROI' may evolve. As businesses adapt their strategies to reflect changing priorities, assessing ROI in new and innovative ways will become increasingly vital," elaborates Liew.

Communicating value without overwhelming

A common challenge vendors face is effectively communicating the value of their solutions without inundating buyers with excessive pricing information. To address this, vendors must first ensure they deeply understand their target audience.

"B2B buying always occurs as a buying group - so identify who the buying group members are, what their buying role is (champion, influencer, ratifier, user, etc) and what those motivations are to move a vendor forward in the buying process," explains Liew.

She suggests that by effectively intimately understanding each persona in the buying group, communication can be tailored to address their motivations/ needs to hit the sweet spot they are looking for in terms of validation.

Cultural influences on buying behaviour

Finally, the impact of culture on buying behaviours in the APAC region cannot be understated. The diversity of practices across countries like Australia, Japan, India, and China illustrates how cultural nuances shape purchasing priorities and group dynamics.

Liew insists that "Culture drives what is a priority when choosing a vendor and how a group buying dynamic works. It also shapes how factors like sustainability, DEI, and EX are perceived and how important they are for a vendor to possess."

As we navigate this intricate landscape, buyers and vendors must adapt to the evolving dynamics of the B2B marketplace. The Forrester report underscores the necessity for providers to transform their approaches to align with buyer expectations, particularly in the face of emerging technologies and shifting demographics.

In 2025, emphasising efficiency, ROI, and understanding buyers' cultural contexts will be pivotal in shaping successful regional business relationships.

The B2B buying process in APAC is a labyrinth filled with challenges and opportunities. But to be clear, this is the same in other parts of the world. By embracing a collaborative approach and understanding buyers' diverse needs, providers can navigate this maze and foster more substantial, more fruitful partnerships.