Aligning Marketing With the Buying Process

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

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  • Aligning Marketing With the Buying Process

    1. 1. Align Your Marketing With Your Customers’ Buying Process Understanding the Industrial Buy Cycle
    2. 2. About Chris Chariton <ul><li>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 </li></ul><ul><li>Oversees direct marketing, demand generation, product management, market research, PR, advertising </li></ul><ul><li>20+ years of marketing experience, including 10 years in industrial marketing </li></ul>
    3. 3. Agenda <ul><li>The industrial buy cycle: a definition </li></ul><ul><li>8 key takeaways from the GlobalSpec Industrial Buy Cycle Survey </li></ul><ul><li>Creating a content strategy </li></ul><ul><li>Recommendations </li></ul>
    4. 4. The Industrial Buy Cycle The steps that industrial or other B2B sector buyers engage in when purchasing products and services
    5. 5. The Industrial Buy Cycle <ul><li>In the consumer world… </li></ul>
    6. 6. The Industrial Buy Cycle <ul><li>People are not ready to purchase all the time </li></ul><ul><li>“Impulse buying” does not exist in the industrial/B2B space </li></ul>
    7. 7. The Industrial Buy Cycle
    8. 8. Key Research Takeaways <ul><li>Industrial Buy Cycle Survey </li></ul><ul><li>700 respondents </li></ul><ul><li>46% of respondents influence $100,000 or more in purchasing </li></ul><ul><li>21% influence more than $500,000 </li></ul>
    9. 9. Key Research Takeaways <ul><li>1. The buy cycle is long. </li></ul>
    10. 10. Average Length of the Buy Cycle
    11. 11. Key Research Takeaways <ul><li>2. Rarely just one person is involved in purchase decisions. </li></ul>
    12. 12. Percent of Purchases Decided by One Person
    13. 13. How Many Decision Makers for Purchases
    14. 14. Key Research Takeaways <ul><li>3. Many sources are used for information. </li></ul>
    15. 15. Information Sources for Work-Related Purposes
    16. 16. Information Sources at Various Buy Cycle Stages
    17. 17. Social Media Used for Work-Related Purposes
    18. 18. Social Media Recommendations <ul><li>Don’t replace established online marketing with social media </li></ul><ul><li>Begin to explore social media tools </li></ul><ul><li>Develop a vision and define goals for social media </li></ul><ul><li>Integrate social media into your overall marketing strategy </li></ul>
    19. 19. What Engineers Look for on the Web Top Activities
    20. 20. Key Research Takeaways <ul><li>4. Content is king. </li></ul>
    21. 21. Number of Pieces of Content Reviewed Before Purchasing
    22. 22. Number of Pieces of Content Reviewed Before Purchasing
    23. 23. Key Research Takeaways <ul><li>5. Numerous suppliers are evaluated before a decision is made. </li></ul>
    24. 24. Evaluating Suppliers
    25. 25. Evaluating Suppliers: Procurement Phase
    26. 26. Key Research Takeaways <ul><li>6. Availability, price and delivery are all important. </li></ul>
    27. 27. Importance of Factors in Purchasing Decisions
    28. 28. Key Research Takeaways <ul><li>7. Purchases are being made in many different ways. </li></ul>
    29. 29. Methods Used to Make Purchases
    30. 30. Most Commonly Used Purchase Method
    31. 31. Avoid “last ad” marketing mistake <ul><li>Giving credit for a lead to the last action taken before purchase </li></ul>
    32. 32. Frequency of Typing Company Name into Search Box
    33. 33. Use of Search as Navigation
    34. 34. <ul><li>71% of sponsored search clicks are navigational in nature. </li></ul>Use of Search as Navigation Source: Atlas Institute, “Paying for Navigational Search”
    35. 35. Why “the click” isn’t the only thing that matters <ul><li>Branding and exposure through other channels may be the reason why they are coming to your Web site </li></ul><ul><li>Buyers type your name into the search box because of the exposure they have received from you </li></ul><ul><li>Research proves the importance of being found in multiple places with various content </li></ul>
    36. 37. Why “the click” isn’t the only thing that matters
    37. 38. Key Research Takeaways <ul><li>8. Frequency of exposure across various media is key to driving business </li></ul>
    38. 39. Key Questions to Ask <ul><li>What is your purchase cycle? </li></ul><ul><li>Does your content address the needs of buyers at the various stages of the buy cycle? </li></ul><ul><li>Is your company, products and services visible in various media/information sources used across the stages? </li></ul>
    39. 41. Industrial Buy Cycle Content Audit
    40. 42. Content Audit
    41. 43. Industrial Buy Cycle Media Information/Source Audit
    42. 44. Media/Information Source Audit
    43. 45. Content Example: E-book Download
    44. 46. Content Example: Twitter
    45. 47. Content Example: Blog
    46. 48. Content Example: Video
    47. 49. Content Example: Video
    48. 50. Content Example: e-Newsletter
    49. 51. Content Example: Technical Articles
    50. 52. Content Example: Technical Article
    51. 53. Content Example: Data Sheet
    52. 54. Content Example: Contact Page
    53. 55. Content Example: Contact Page
    54. 56. <ul><li>Get found early – and often - in the buy cycle </li></ul>Recommendations
    55. 61. <ul><li>Get found early – and often - in the buy cycle </li></ul><ul><li>Be found where your audience is looking - online </li></ul><ul><li>Understand your company’s buy cycle – and offer content to support it </li></ul><ul><li>Conduct a content audit to ensure that you have the right content for the right stages </li></ul>Recommendations
    56. 62. About GlobalSpec We offer a variety of marketing programs tailored to your needs that deliver qualified leads, brand exposure and Web traffic, including: <ul><ul><ul><li>Searchable online catalogs and directories </li></ul></ul></ul><ul><ul><ul><li>Advertising in more than 60 e-newsletters </li></ul></ul></ul><ul><ul><ul><li>Exhibitor opportunities at online events for the industrial sector </li></ul></ul></ul><ul><ul><ul><li>PLUS banner advertising and pay-per-click programs </li></ul></ul></ul>
    57. 63. 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

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