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Survey: UK B2B decision maker response to COVID-19 crisis

B2B decision makers are responding quickly, though actions and customer preferences vary.

As governments and organizations continue to work toward containing COVID-19 and stem the growing humanitarian toll it is exacting, the economic effects are also beginning to be felt. Through a series of regular, global surveys, 1 we are tracking how customers’ expectations, spending, and behaviors are changing throughout the crisis across multiple countries over time.

Highlights from the B2B Decision-Maker Pulse:

  • UK B2B decision-maker optimism relatively low and steady: One-third (39 percent) believe the economy will rebound in 2–3 months (flat from early April)
  • ~50 percent of B2B companies have already reduced their budgets; spend reductions in the next two weeks are more tempered (~40 percent reducing spend)
  • Preference for digital now ~2X more than traditional sales interactions; self-serve, digital ordering methods now preferred, eg, mobile app ordering up ~50 percent
  • Remote selling is now the norm and perceived to be effective: 97 percent of B2B companies have shifted their GTM model during COVID-19; 58 percent believe the new model is just as effective or more so than before
  • Sales model changes are expected to stay: 22 percent are “very likely” to sustain these shifts 12+ months after COVID-19 and another 52 percent are “somewhat likely” to do so

Please check back regularly for updates.

About the author(s)

Liz Harrison is an associate partner in McKinsey’s Charlotte office, and Ryan Gavin, Candace Lun Plotkin, and Jennifer Stanley are partners in the Boston office.

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