A recent study of more than 700 North American industrial buyers sheds light on the industrial buy cycle.
Not surprising was the greater the purchase value, the longer the buy cycle. 81% of respondents said that the buy cycle is less than a month for purchases under $1,000. For purchases greater than $10,000, 38% stated that the buy cycle is five months or longer.
If you've been noticing that there are many decision makers in the mix you would be correct. Even for purchases under $1,000, 37% involve two or more decision makers. When the amount climbs to greater than $10,000, 80% have two or more involved.
Read the full research results by downloading white paper entitled "Understanding the Industrial Buy Cycle: How to Align Your Marketing with Your Customers' Buying Process".