Aligning Marketing With the Buying Process
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Aligning Marketing With the Buying Process

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Chris Chariton of Global Spec helps shed light on understanding the industrial buy cycle.

Chris Chariton of Global Spec helps shed light on understanding the industrial buy cycle.

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Aligning Marketing With the Buying Process Aligning Marketing With the Buying Process Presentation Transcript

  • Align Your Marketing With Your Customers’ Buying Process Understanding the Industrial Buy Cycle
  • About Chris Chariton
    • Vice President of Supplier Marketing and Marketing Services for GlobalSpec, a specialized search, information resource, e-publishing and online events company for the industrial sector
    • Oversees direct marketing, demand generation, product management, market research, PR, advertising
    • 20+ years of marketing experience, including 10 years in industrial marketing
  • Agenda
    • The industrial buy cycle: a definition
    • 8 key takeaways from the GlobalSpec Industrial Buy Cycle Survey
    • Creating a content strategy
    • Recommendations
  • The Industrial Buy Cycle The steps that industrial or other B2B sector buyers engage in when purchasing products and services
  • The Industrial Buy Cycle
    • In the consumer world…
  • The Industrial Buy Cycle
    • People are not ready to purchase all the time
    • “Impulse buying” does not exist in the industrial/B2B space
  • The Industrial Buy Cycle
  • Key Research Takeaways
    • Industrial Buy Cycle Survey
    • 700 respondents
    • 46% of respondents influence $100,000 or more in purchasing
    • 21% influence more than $500,000
  • Key Research Takeaways
    • 1. The buy cycle is long.
  • Average Length of the Buy Cycle
  • Key Research Takeaways
    • 2. Rarely just one person is involved in purchase decisions.
  • Percent of Purchases Decided by One Person
  • How Many Decision Makers for Purchases
  • Key Research Takeaways
    • 3. Many sources are used for information.
  • Information Sources for Work-Related Purposes
  • Information Sources at Various Buy Cycle Stages
  • Social Media Used for Work-Related Purposes
  • Social Media Recommendations
    • Don’t replace established online marketing with social media
    • Begin to explore social media tools
    • Develop a vision and define goals for social media
    • Integrate social media into your overall marketing strategy
  • What Engineers Look for on the Web Top Activities
  • Key Research Takeaways
    • 4. Content is king.
  • Number of Pieces of Content Reviewed Before Purchasing
  • Number of Pieces of Content Reviewed Before Purchasing
  • Key Research Takeaways
    • 5. Numerous suppliers are evaluated before a decision is made.
  • Evaluating Suppliers
  • Evaluating Suppliers: Procurement Phase
  • Key Research Takeaways
    • 6. Availability, price and delivery are all important.
  • Importance of Factors in Purchasing Decisions
  • Key Research Takeaways
    • 7. Purchases are being made in many different ways.
  • Methods Used to Make Purchases
  • Most Commonly Used Purchase Method
  • Avoid “last ad” marketing mistake
    • Giving credit for a lead to the last action taken before purchase
  • Frequency of Typing Company Name into Search Box
  • Use of Search as Navigation
    • 71% of sponsored search clicks are navigational in nature.
    Use of Search as Navigation Source: Atlas Institute, “Paying for Navigational Search”
  • Why “the click” isn’t the only thing that matters
    • Branding and exposure through other channels may be the reason why they are coming to your Web site
    • Buyers type your name into the search box because of the exposure they have received from you
    • Research proves the importance of being found in multiple places with various content
  •  
  • Why “the click” isn’t the only thing that matters
  • Key Research Takeaways
    • 8. Frequency of exposure across various media is key to driving business
  • Key Questions to Ask
    • What is your purchase cycle?
    • Does your content address the needs of buyers at the various stages of the buy cycle?
    • Is your company, products and services visible in various media/information sources used across the stages?
  •  
  • Industrial Buy Cycle Content Audit
  • Content Audit
  • Industrial Buy Cycle Media Information/Source Audit
  • Media/Information Source Audit
  • Content Example: E-book Download
  • Content Example: Twitter
  • Content Example: Blog
  • Content Example: Video
  • Content Example: Video
  • Content Example: e-Newsletter
  • Content Example: Technical Articles
  • Content Example: Technical Article
  • Content Example: Data Sheet
  • Content Example: Contact Page
  • Content Example: Contact Page
    • Get found early – and often - in the buy cycle
    Recommendations
  •  
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  •  
    • Get found early – and often - in the buy cycle
    • Be found where your audience is looking - online
    • Understand your company’s buy cycle – and offer content to support it
    • Conduct a content audit to ensure that you have the right content for the right stages
    Recommendations
  • About GlobalSpec We offer a variety of marketing programs tailored to your needs that deliver qualified leads, brand exposure and Web traffic, including:
        • Searchable online catalogs and directories
        • Advertising in more than 60 e-newsletters
        • Exhibitor opportunities at online events for the industrial sector
        • PLUS banner advertising and pay-per-click programs
  • Thank You! Learn More www.globalspec.com/advertising www.globalspec.com/marketingmaven Contact Us Chris Chariton: [email_address] Follow Us @GlobalSpecInc http://linkd.in/MktgMavens