persuading buyers to choose you, results from the itsma how b2b buyers consume information survey,...

ITSMA Survey | 2014 How B2B Buyers Consume Information

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Persuading Buyers to Choose You Results from the ITSMA How B2B Buyers Consume Information Survey, 2014

Julie Schwartz, Senior Vice President, Research and Thought Leadership, ITSMA Anna Whiting, Senior Research Manager, ITSMA

Abbreviated Summary | December 2014



Abbreviated

Summary

Buyers are more connected, empowered, and hungry to

learn. They have more choices and access to

information anytime and anywhere. As a result,

marketing and selling have become more challenging.

It helps to know exactly what buyers are looking for

during the purchase process. What they really want to

know is whether they can trust you. You build trust

through relationships. And to build relationships, you

need: engagement, insights, a personalized approach,

and underlying all three, human contact.

Note: This abbreviated summary highlights some of the

significant findings from How Buyers Consume

Information: Persuading Buyers to Choose You, results

from the ITSMA 2014 survey. A more in-depth analysis

can be found in the full report.

According to ITSMA’s “How Buyers

Consume Information Survey,”

your buyers require four things:

Insights

Human Contact

Personalized Approach

Engagement

http://www.itsma.com/research/how-b2b-buyers-consume-information-survey-2014/





http://www.itsma.com/



#1: Human Contact

Buyers want insight—and they prefer to get

their insight from people, not screens. Here is

why human contact is critical:

l Buyers spend nearly as much time offline as

online, especially with people, when keeping

up with industry and technology trends

l Buyers rely on sales at all stages of the

buying process, even the early stages

l Technology solution provider SMEs are the

most credible source of information

l Finally, social media, while gaining traction

is not yet mainstream

It’s still all about the human contact.

Source: ITSMA, How B2B Buyers Consume Information Survey, 2014

Solution providers, especially their SMEs,

are the most credible source of information

during the purchase process

39

31

31

26

26

25

24

21

18

18

15

14

13

1

Solution provider subject matter experts

Solution provider websites

Industry analysts/sourcing advisors

Solution provider sales people

Peers/colleagues

Management consultants

Web search

Industry events/trade shows

General business or industry/trade media

Industry/professional online communities

Local or national professional trade associations

Social media/networks

Digital influencers/industry experts

Other

% Rank 1st % Rank 2nd % Rank 3rd

Which of the following sources of information in your most

recent purchase experience were most trustworthy or credible?

(Rank order 1st, 2nd, 3rd) % of Respondents (N=436)

http://www.itsma.com/research/persuading-buyers-to-choose-you-how-b2b-buyers-consume-information-survey-2014/




26 24

53 51

18 20

3 4 1

#2: Relevant Insights

Thought leadership is crucial to solution provider

awareness, interest, and consideration.

l The depth and quality of thought leadership is

one of the key criteria that determine which

providers buyers want to learn more about

and which providers ultimately make it on

their short lists

l Buyers have different preferences for

how they want insight delivered:

First: interactive visualizations or visual

storytelling

Followed by: presentations and slide sets

and text-based copy

The next tier: videos and infographics

Lastly: podcasts

What role did the solution providers’ thought leadership content

play in determining which providers…?

% of Respondents (N=436)

Thought leadership is crucial to solution

provider awareness, interest, and

consideration

You wanted to learn

more about?

Made it on to your

shortlist?

Critical

Important

Somewhat Important

Of Minor Importance

Of No Importance






#3: Personalized

Approach Personalization is the new mantra of marketing.

B2B marketing is person-to-person marketing.

l It’s micro-targeting and using technology to

customize the experience and for marketing to

add more value

l It’s ensuring an integrated personal experience

both on and offline

l It’s using superior understanding of the buyer’s

needs and behavior to persuade the buyer to

choose you

Moreover, buyers welcome personalization.

They find personalization to be a valuable service.

When solution providers personalize their marketing and

sales materials to address your specific business issues are

you more, less, or equally likely to consider purchasing

solutions from them? % of Respondents (N=436)

Buyers are more likely to consider solution

providers that personalize their marketing

to address their specific business issues

More

likely

50%

Equally

likely

39%

Less likely

9%

Don’t know

2%






#4: Engagement

Too often relationship marketing is a mechanical process

of increasingly focused communication activities: emails,

webinars, newsletter subscriptions, seminars, private

briefings, and so on. It’s a formulaic progression. But real

relationships don’t follow a formula. They’re messy and

unpredictable, and each one is different.

The challenge is to engage customers and prospects and

build real relationships. Marketers need to:

l Stop talking and listen

l Cultivate more strategic relationships to gain insight,

advice, and constructive criticism

l Show that listening leads to action

As marketers, we need to engage three

different audiences

Relationship

The

Marketing

Challenge

Creating

Awareness and

Building

Relationships

Increasing

Knowledge,

Collaboration,

and Innovation

Communicating

Relevant Value

Propositions

The

Predominant

Marketing

Approach

Events,

Thought

Leadership,

and Proof

Points

Customer

Engagement

Programs

and ABM

Buyer Personas,

and ABM

New Buying

Centers

in Existing

Accounts

Existing

Relationships

in Existing

Accounts

New

Accounts

Establishing Deepening Expanding






Here’s what the cutting-edge

B2B solutions marketers

will be doing in 2015

Integrating on- and off-line marketing

Connecting on social media

Expanding the role and visibility of SMEs

Creating and communicating true thought

leadership

Enabling sales to do thought leadership selling

Increasing relevance with Buyer Personas

and B2I

Accelerating growth with ABM

Creating a comprehensive program to engage

with existing customers



26

22

10

10

8

7

7

11 Other

Energy/Utilities/Oil/Mining/Gas

Government/Non-Profit/Public Sector

Healthcare

Business Services

Communications

Financial Services

Manufacturing

Study Methodology

In Fall 2014, ITSMA conducted a web survey of 436

business, finance, and IT executives from companies that

purchase technology–based solutions for individual contracts

over $500,000. These respondents represented larger

enterprises, with 50% having $1 billion or more in annual

revenue from seven different countries: US, UK, France,

Germany, Australia, India, and Brazil.

Countries

Represented % of Respondents

(N=436)

US

41%

UK

13%

France

10%

Germany

10%

India

10%

Australia

8%

Brazil

8%

Note: Other includes: retail/wholesale,

transportation, travel and hospitality,

aerospace/defense

What is your company’s

primary business? % of Respondents (N=436)

Annual Revenue of Organizations

Represented Approximately what is your company’s annual revenue

(or operating budget if government)? % of Respondents (N=436)

5

15

19

23

15 12

$100–

249M

$250–

499M

$500–

999M

$1–

4.9B

$5–

9.9B

$10–20B

or more






52

16 12 11 9

C-level/

Pres./

General

Manager

Director/

Assistant

VP

VP/

Senior VP/

Head

Manager Controller/

Treasurer

Respondent

Characteristics Purchase Involvement How would you characterize your involvement in your

organization’s purchases of major technology solutions for

individual contracts over $500,000? % of Respondents (N=436)

Job Role Are you an IT or business

professional?

% of Respondents

(N=436)

Job Title Which of the following most closely describes your job title?

% of Respondents (N=436)

IT

54%

Business

46%

Note: Multiple responses allowed.

I have budget and/or

final sign-off authority

I research potential providers

for inclusion on the short list/

I evaluate the providers

on the short list and select

the best solution

I provide input to help the

evaluators and

decision makers

75

33

30

Decision

maker

Evaluator

Influencer






Table of Contents for Persuading Buyers to

Choose You, Results from the ITSMA How B2B

Buyers Consume Information Survey, 2014

For More Information Julie Schwartz

Senior Vice President

Research and Thought Leadership

ITSMA

Email: [email protected]

Phone: +1-781-862-8500, Ext. 112

Slide

Executive Summary 3

Human Contact 6

Insight 12

Personalized Approach 16

Engagement 19

Methodology and Respondent Demographics 34

Detailed Findings 43

Crosstabs 69

By Social Media Use 69

By Type of Purchase 85

By Country 102

By Job Role 119

By Size of Company 136

By Industry 153

Want to learn more? Here’s what’s included in the full study







mailto:[email protected]?subject=How B2B Buyers Consume Information Survey, 2014




persuading buyers to choose you, results from the itsma how b2b buyers consume information survey,...

Marketing

b2b buyers

information survey

persuading buyers

human contact buyers

abbreviated summary

itsma abbreviated summary

credible source of information

itsma anna whiting