The New B2B Buyer (Independent, Unpredictable, and Social)


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Reference material for a discussion on how the B2B buying process has fundamentally changed

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The New B2B Buyer (Independent, Unpredictable, and Social)

  1. 1. The New B2B Buyer (Independent, Unpredictable, and Social)<br />
  2. 2. Media Consumption Rates Among Professionals<br /><ul><li>Social media represents 42% of total media consumption among professionals (compared to 31% for editorial and 27% for vendor content).</li></ul> Social Media Index, Wave V<br />2<br />
  3. 3. 3<br />Online Communities Encourage Vendor Participation<br /><ul><li>More than 76% of executives and professionals state that it is important for vendors to have a presence in online communities, listen to audiences, and engage in conversations.
  4. 4. This preference serves as an open invitation for vendors to participate alongside of their target audiences in online communities.</li></ul>Which of the following statements best reflects your attitude about vendor participation in online communities? <br /> Social Media Index, Wave IV<br />
  5. 5. Professionals Value Vendor Transparency and Responsiveness<br /><ul><li>Professionals most valued transparency and openness about vendor involvement in an online community, as well as their responsiveness to requests.
  6. 6. Free samples and exclusives from vendors were among the least important for professionals in online communities .</li></ul>If you were part of an online community, how important would it be for the participating vendors to provide the following? Please rank on a scale of 1 (least important) to 5 (most important).<br /> Social Media Index, Wave IV<br />4<br />
  7. 7. 5<br />Shortlist of Potential Vendors – All Job Roles<br /><ul><li>Search is the most important source of information during the awareness phase.
  8. 8. Topic-based communities are the second-most important source during this phase for all job roles.</li></ul> Social Media Index, Wave II<br />
  9. 9. 6<br />Final Evaluation of Tech Purchases – All IT Job Roles<br /><ul><li>Topic-based communities are the most important sources of information during the consideration and final evaluation stages.</li></ul> Social Media Index, Wave II<br />
  10. 10. 7<br />Evaluation of Tech Purchases – IT Decision Makers<br /><ul><li>Topic-based communities are the most important sources of information during all phases of a technology purchase for IT decision makers.</li></ul> Social Media Index, Wave II<br />
  11. 11. Relationship<br />Direct Results<br /><ul><li>Value: </li></ul> Web as a relationship management channel<br /><ul><li>Purchasing Experience</li></ul> Collaboration through multiple platforms to research and make workplace decisions<br /><ul><li>Primary Goals: </li></ul>Engaging prospects and customers outside of the company’s Web site and through numerous platforms<br /><ul><li>Measurements: </li></ul>Cost per customer acquisition, client retention, content creation, company mentions, and advocates nurtured<br /><ul><li>Popular Tactics:
  12. 12. Employee participation in relevant communities
  13. 13. Integration of company IP into various platforms
  14. 14. Lead nurturing via social CRM
  15. 15. Successful direct tactics</li></ul>Experimentation<br /><ul><li>Value: </li></ul> Web as a direct results channel<br /><ul><li>Purchasing Experience</li></ul> Web as chief research option with information disseminated through multiple sources and the emergence of collaboration<br /><ul><li>Primary Goals: </li></ul> Drive Web site traffic and generate leads to directly support sales<br /><ul><li>Measurements: </li></ul>Cost per lead and cost per click<br /><ul><li>Popular Tactics:
  16. 16. Search ads
  17. 17. Lead generation - white papers, webcasts
  18. 18. Branding - IMUs, microsites
  19. 19. E-mail - list rentals
  20. 20. Value: </li></ul> Web as a promotional channel<br /><ul><li>Purchasing Experience</li></ul>Consumption of online content begins in mass- mainly information without interaction.<br /><ul><li>Primary Goals: </li></ul> Trial a new media concept, gain eyeballs, replicate offline mass media strategy<br /><ul><li>Measurements: </li></ul>Cost per impression<br /><ul><li>Popular Tactics:
  21. 21. Branding – buttons, banners
  22. 22. E-mail – newsletters, list rentals</li></ul>2003-2010<br /> 2011 and Beyond<br />1996-2002<br />Vision - The Evolution of Online Marketing<br />