Inside The Mind Of The B2B Buyer

by G3 Communications on Feb 24, 2010

11,149 views

Join DemandGen Report and Genius.com for a live webinar and access to a free report on Wed., February 24th 2010, as we present the findings of a brand new study exploring the purchase patterns of the next generation B2B Buyer.

The verdict is in-- It’s clear that buying habits have changed and customers are:

•             More educated about solutions and competition than ever before
•             More opportunistic and impulsive in their buying behavior
•             More resourceful and connected to other buyers

In addition, the webinar will present case study examples of how emerging channels such as social media, blogs and peer groups are influencing and shaping buyer preferences throughout the buying process outside of the traditional sales funnel.

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Inside The Mind Of The B2B Buyer — Presentation Transcript

Inside the Mind of The B2B Buyer: Influences Outside the Funnel

Welcome Webinar Attendees
Your GoToWebinar Attendee Viewer is made of 2 parts:
1. Viewer Window
2. Control Panel
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Panelists
Andrew Gaffney
Editor
DemandGen Report
Matt West
Director of Marketing Programs
Genius.com

Who Controls Engagement?
Less than 10% of recent buyers were contacted cold by the solution provider
More than 80% said they contacted the solution providerdirectly

The New Path to Purchase
Less than ¼ indicatedbudget was approved or allocated during the beginning of the year.

New Paths To Purchase
33% of respondents indicated they determined “the potential impact through other adopters and built a business case for immediate adoption,” then received approval although the project was unbudgeted.

The New Path To Purchase

23% indicated budget was allocated after ROI was proven
13% said budget was determined after multiple bids were collected
9% indicated budget was taken from another lineitem.

The New Decision-Making Process

48% utilized a wider variety of sources
48% took more time to research
36% did more detailed analysis of costs/ROI

The New Decision-Making Process

30% had more internal team members provide input
27% relied more on live customer feedback & recommendations

The New Influences

78% started with informal info gathering
59% engaged with peerswho addressed the challenge
48% followed industry conversations on topic
44% conducted anonymous research of a select group of vendors

The New Influences

41% followed discussions to learn more about topic
37% posted questions on social networking sites looking for suggestions/feedback
More than 20% connected directly with potential solution providers via social networking channels

Connecting With The 2.0 Buyer
Reaffirming the importance of the consultative sale, almost 95% of recent purchasers said the solution provider they chose “provided them with ample content to help navigate through each stage of the buying process.”

New Rules of Engagement
Nearly 80% of respondents indicated “timeliness of response” was an influential factor in selecting their vendor.

Reaching the 2.0 Buyer
66% of respondents indicated the “consistent and relevant communication provided by both the sales and marketing organizations” was a key influence in choosing that company as their solution provider.

The Post-Purchase Influence
59% said they shared learnings from their research and buying process with others. The forums they used included:

One on one discussions
Blog postings
Participated in discussion forums
Tweeted about experience

What Does This Look Like
Drive to Website
Convert via form
Nurture
Alert Rep of Buying Behavior

Let’s See This In Action
Drive to Website
Convert via form
Nurture
Alert Rep of Buying Behavior

What Does This Mean to Marketers

Thank you for attendingtoday’s webinar!
Matt West
Director of Marketing Programs
Genius.com
matt@genius.com
Andrew Gaffney
Editor
DemandGen Report
andrewg@demandgenreport.com

Inside The Mind Of The B2B Buyer

by G3 Communications on Feb 24, 2010

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Inside The Mind Of The B2B Buyer — Presentation Transcript