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Align Your Marketing With Your Customers’ Buying Process Understanding the Industrial Buy Cycle
About Chris Chariton <ul><li>Vice President of Supplier Marketing and Marketing Services for GlobalSpec, a specialized sea...
Agenda <ul><li>The industrial buy cycle: a definition </li></ul><ul><li>8 key takeaways from the GlobalSpec Industrial Buy...
The Industrial Buy Cycle The steps that industrial or other B2B sector buyers engage in when purchasing products and servi...
The Industrial Buy Cycle <ul><li>In the consumer world… </li></ul>
The Industrial Buy Cycle <ul><li>People are not ready to purchase all the time </li></ul><ul><li>“Impulse buying” does not...
The Industrial Buy Cycle
Key Research Takeaways <ul><li>Industrial Buy Cycle Survey </li></ul><ul><li>700 respondents </li></ul><ul><li>46% of resp...
Key Research Takeaways <ul><li>1.  The buy cycle is long. </li></ul>
Average Length of the Buy Cycle
Key Research Takeaways <ul><li>2.  Rarely just one person is involved in purchase decisions. </li></ul>
Percent of Purchases Decided by One Person
How Many Decision Makers for Purchases
Key Research Takeaways <ul><li>3.  Many sources are used for information. </li></ul>
Information Sources for Work-Related Purposes
Information Sources at Various Buy Cycle Stages
Social Media Used for Work-Related Purposes
Social Media Recommendations <ul><li>Don’t replace established online marketing with social media </li></ul><ul><li>Begin ...
What Engineers Look for on the Web Top Activities
Key Research Takeaways <ul><li>4.  Content is king. </li></ul>
Number of Pieces of Content Reviewed Before Purchasing
Number of Pieces of Content Reviewed Before Purchasing
Key Research Takeaways <ul><li>5. Numerous suppliers are evaluated before a decision is made. </li></ul>
Evaluating Suppliers
Evaluating Suppliers: Procurement Phase
Key Research Takeaways <ul><li>6. Availability, price and delivery are all important. </li></ul>
Importance of Factors in Purchasing Decisions
Key Research Takeaways <ul><li>7.  Purchases are being made in many different ways. </li></ul>
Methods Used to Make Purchases
Most Commonly Used Purchase Method
Avoid “last ad” marketing mistake <ul><li>Giving credit for a lead to the last action taken before purchase </li></ul>
Frequency of Typing Company Name  into Search Box
Use of Search as Navigation
<ul><li>71%  of sponsored search clicks  are navigational in nature.   </li></ul>Use of Search as Navigation Source: Atlas...
Why “the click” isn’t the only thing that matters  <ul><li>Branding and exposure through other channels may be the reason ...
 
Why “the click” isn’t the only thing that matters
Key Research Takeaways <ul><li>8.  Frequency of exposure across various media is key to driving business </li></ul>
Key Questions to Ask <ul><li>What is your purchase cycle? </li></ul><ul><li>Does your content address the needs of buyers ...
 
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
<ul><li>Get found early – and often - in the buy cycle </li></ul>Recommendations
 
 
 
 
<ul><li>Get found early – and often - in the buy cycle </li></ul><ul><li>Be found where your audience is looking - online ...
About GlobalSpec We offer a variety of marketing programs tailored to your needs that deliver qualified leads, brand expos...
Thank You! Learn More www.globalspec.com/advertising www.globalspec.com/marketingmaven Contact Us Chris Chariton:  [email_...
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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.

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  • Transcript of "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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