Your SlideShare is downloading. ×
0
Three Trends You Can’t IgnoreResults from the ITSMAHow Buyers Consume Information Survey, 2012Abbreviated Summary | Decemb...
ITSMA Survey | 2012 How B2B Buyers Consume InformationAbbreviated SummaryNote: This abbreviated summary highlights some of...
ITSMA Survey | 2012 How B2B Buyers Consume Information                                                The B2B Social Buyer...
ITSMA Survey | 2012 How B2B Buyers Consume Information                                                Buyers turn to solut...
ITSMA Survey | 2012 How B2B Buyers Consume Information                                                We see an elevation ...
ITSMA Survey | 2012 How B2B Buyers Consume Information                                                Marketers jobs are c...
ITSMA Survey | 2012 How B2B Buyers Consume Information                                                Sales is being broug...
ITSMA Survey | 2012 How B2B Buyers Consume Information                                                                    ...
ITSMA Survey | 2012 How B2B Buyers Consume InformationStudy                                                               ...
ITSMA Survey | 2012 How B2B Buyers Consume Information  Respondent                                                        ...
ITSMA Survey | 2012 How B2B Buyers Consume InformationAnnual Revenue of OrganizationsRepresented                          ...
ITSMA Survey | 2012 How B2B Buyers Consume InformationTable of Contents for Three Trends You Can’tIgnore: Results from the...
Upcoming SlideShare
Loading in...5
×

Three Trends You Can’t Ignore, Results from the ITSMA How Buyers Consume Information Survey, 2012 Abbreviated Summary

1,427

Published on

Where do buyers of large B2B solutions get information on solution providers? In 2011 we saw two major changes: the rise of B2B Social Buyer, who view social media as an integral tool in purchase process, and the emergence of Solution Providers as the most influential source of information for buyers of large B2B solutions.

The 2012 ITSMA buyer research validates those trends and uncovers a new one: Buyers rely on sales at all stages of the buying process. This data point contradicts much of the conventional wisdom that downplays the role of sales in the buyer journey.

These trends show that buyer behavior is rapidly changing, and marketers need to be at least one step ahead. Read this report to find out how Marketing can:
• Create the right balance in the marketing mix to reach both B2B Social and Traditional buyers
• Facilitate access to subject matter experts and their knowledge
• Help sales become subject matter experts in their own right

ITSMA conducted the 2012 version of its acclaimed How Customers Choose research with 299 buyers of large, complex IT solutions across four countries. Specifically, the study answers questions such as:
• What are the most important criteria used to select solution providers?
• How are buyers using social media during the purchase process?
• When creating a short list of providers, what sources of information do they use?
• When during the buying process do you find it most useful to engage with sales reps?
Study Methodology
In Fall 2012, ITSMA surveyed, via the Web, 299 business and IT executives from companies that purchase business or technology solutions for individual contracts over $500,000. These respondents represented larger enterprises, with 47% having $1 billion or more in annual revenue from four different countries: US, UK, France, and Germany. Respondents were interviewed in the following vertical markets:
• Financial Services
• Manufacturing
• Communications
• Public sector/Healthcare
• Other

Published in: Business
0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
1,427
On Slideshare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
36
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Transcript of "Three Trends You Can’t Ignore, Results from the ITSMA How Buyers Consume Information Survey, 2012 Abbreviated Summary"

  1. 1. Three Trends You Can’t IgnoreResults from the ITSMAHow Buyers Consume Information Survey, 2012Abbreviated Summary | December 2012Julie Schwartz Dianne KimSenior Vice President Research AssociateResearch and Thought Leadership ITSMAITSMA
  2. 2. ITSMA Survey | 2012 How B2B Buyers Consume InformationAbbreviated SummaryNote: This abbreviated summary highlights some of the significant findings fromThree Trends You Can’t Ignore: Results from the ITSMA How Buyers Consume Information Survey,2012. A more in-depth analysis can be found in the full report.Last year’s ITSMA buyer research uncovered shocking revelations about changes in buyer behavior, most notably thedecline of traditional peer influence and the rise of the B2B social buyer. This year’s data confirms these two trendsand introduces a new one. Here are the three trends you can’t ignore: 1) 1 Solution providers are a credible and influential source of information, even more so than peers. 2) 2 B2B social buyers and traditional buyers do consume information differently. 3) 3 Contrary to popular belief, buyers rely on sales at all stages of the buying process.In our 2012 buyer research, ITSMA is seeing major shifts in buyer behavior and preference in informationconsumption. More than ever, buyers are looking to many different sources to inform their decisions.Read this report to find out how to most effectively reach and engage with today’s buyer.© 2012 ITSMA. All rights reserved. Reproduction or forwarding of this document to others is prohibited. www.itsma.com | F022AS | 2
  3. 3. ITSMA Survey | 2012 How B2B Buyers Consume Information The B2B Social Buyer is a young executive with cloutLast year’s study introduced the rise of Age*the B2B social buyer, who uses 18–34 51 31on social media and online communities 36 B2B Social Buyer 35–44 33 (N=139)during the purchase process. This year’s 14 Traditional Buyer 45–54data provides more insight on the profile 36 (N=160)of the B2B social buyer. Job Role* 73They are young senior executives IT 51with clout; for the most part they are Business 27 49under 40, are decision-makers, andbelong to the IT organization. They Job Title* Manager 19 31spend more time consuming content 17 Director/Assistant VP 19than their traditional counterparts and 25 VP/Senior VP/Headare less likely to delegate research during 22 40the early stage of the buying process. C-level, GM, President 28We are dealing with a new type of buyer: * Indicates a statistically significant difference. There were no significant differencesproactive and empowered. found by size of company, industry, or gender. Source: ITSMA, How B2B Buyers Consume Information Study, 2012© 2012 ITSMA. All rights reserved. Reproduction or forwarding of this document to others is prohibited. www.itsma.com | F022AS | 3
  4. 4. ITSMA Survey | 2012 How B2B Buyers Consume Information Buyers turn to solution provider information sources firstThe research results validate What were the first three sources ofthat solution provider websites are now information you turned to when you began your solution research? (Rank order 1st, 2nd, 3rd)the primary and source of information % of Respondents (N=299)for buyers during the early stages Technology or solution provider websites 36of the buying process. Technology or solution provider subject matter experts 29 Web search 28Many buyers turn first to solution Technology or solution provider sales people 27 Peers/colleagues 27provider resources before they seek Industry analysts 23counsel from their peers. Management consultants 21 Industry events/trade shows 19Peers, while still important as a Focused online communities/social networks 17 Focused industry or trade media 14source of referral, recommendations, General business media 13and references, are no longer Sourcing advisors 12the best source of information. Universities, research institutes, think tanks 10 Local or national professional trade associations 9 Social media/networks 8 Blogs 6 1st 2nd 3rd Note: Respondents were asked to rank order top three. Source: ITSMA, How B2B Buyers Consume Information Study, 2012© 2012 ITSMA. All rights reserved. Reproduction or forwarding of this document to others is prohibited. www.itsma.com | F022AS | 4
  5. 5. ITSMA Survey | 2012 How B2B Buyers Consume Information We see an elevation in solution provider credibilityAt the same time the data shows Which of the following sources ofthe decline in conventional peer information are most credible?influence, we also see a rise in solution % of Respondents Rank in Top Threeprovider credibility. B2B Social Buyer Traditional Buyer (N=139) (N=160)Buyers endorse solution Technology or solution provider subject matter experts 32 35provider subject Technology or solution provider websites 29 28matter experts (SMEs) Industry analysts 28 25 Management consultants 24 21as the most credible source of Technology or solution provider sales people 23 28information during the Peers/colleagues* 16 31purchase process. Web search 25 17 Focused industry/professional online communities 20 18Solution provider Industry events/trade shows 13 18websites, and even sales people, ,Focused industry or trade media 13 19are also high on the list. Sourcing advisors 16 15 General business media 12 11Traditional buyers are twice Universities, research institutes, think tanks 16 15as likely to rank peers as a Local or national professional trade associations 8 14 Social media/networks* 17 2credible source of information than are Blogs 8 4the B2B social buyers. But even the Note: Up to three responses allowed; respondents were asked to rank ordertraditional buyer find the solution top three sources. *Indicates a statistically significant difference.provider resources to be trustworthy! Source: ITSMA, How B2B Buyers Consume Information Study, 2012© 2012 ITSMA. All rights reserved. Reproduction or forwarding of this document to others is prohibited. www.itsma.com | F022AS | 5
  6. 6. ITSMA Survey | 2012 How B2B Buyers Consume Information Marketers jobs are complex, they must rebalance the marketing mixAlthough both types of buyers are hungry Which information delivery channels orfor fact-based content and thought formats do you typically prefer?leadership, they differ when it comes to % of Respondents B2B Social Buyer Traditional Buyerpreferred delivery channels or formats. (N=139) (N=160) Research reports 28 32Addressing the needs of both B2B social Social media* 25 6 Email newsletters* 22 11and traditional buyers means In-person seminars/conferences/tradeshows* 19 42marketers must Print journals/magazines Virtual seminars/conferences/tradeshows* 19 17 20 28re-balance the Webinars Sales calls or private briefings 17 17 22 22marketing mix Digital magazines 17 11 Videos 15 9and do a bit of everything to meet Website copy 13 18 Blogs* 13 6the information demands and preferences White papers 12 15 Brochures (hard copy)/datasheets 9 11of a bifurcated market. eBooks 9 8 Direct mail 8 11 RSS Feed or other newsfeeds 6 7 Podcasts 6 3 Note: Respondents were asked to rank order top three channels. *Indicates a statistically significant difference. Source: ITSMA, How B2B Buyers Consume Information Study, 2012© 2012 ITSMA. All rights reserved. Reproduction or forwarding of this document to others is prohibited. www.itsma.com | F022AS | 6
  7. 7. ITSMA Survey | 2012 How B2B Buyers Consume Information Sales is being brought back to the conversationContrary to conventional wisdom, 70% of B2B technology solutionsbuyers are no longer waiting longer buyers want to engage withand longer to engage with sales. The sales reps before they identifypendulum is swinging yet again and their shortlist. -ITSMAsales is being invited to jointhe conversation, at allstages of the buying process. 70%But there’s a catch! 24 23 24Sales people are expected to 16 14educate and provide new andprovocative perspectives on the Stage 1. Stage 2. Stage 3. Stage 4. Stage 5.market and technology solutions. Epiphany Awareness Interest Confidence Loyalty Keeping up Learning Identifying Evaluating BuildingMarketing must enable sales with more about a shortlist and ongoing industry/ potential of solution selecting a relationshipto do thought leadership selling technology solutions providers solution with news and and provider/ solutionand act as the “frontline” subject- events solution Making the provider providers final post-matter experts. decision purchase Source: ITSMA, How B2B Buyers Consume Information Study, 2012© 2012 ITSMA. All rights reserved. Reproduction or forwarding of this document to others is prohibited. www.itsma.com | F022AS | 7
  8. 8. ITSMA Survey | 2012 How B2B Buyers Consume Information Buyers want easy to find information and access to solution provider SMEsBuyer behavior is changing Technology or solution providerat an accelerated pace and subject matter experts 34 Technology or solution providermarketers need to be at least one step websites 29ahead of them, not constantly trying to Industry analysts 26catch up. Marketers must leverage Technology or solution provider 26 sales peoplesolution provider credibility and give Peers/colleagues 24buyers what they want: Easy-to-find Note: Respondents were asked to 1st 2nd 3rdquality information, access to SMEs, rank order top three.and strong thought leadership,via both marketing campaigns and salesinteractions, that educatesbuyers and bolsterstheir company’sreputation as anindustry leader. Source: ITSMA, How B2B Buyers Consume Information Study, 2012© 2012 ITSMA. All rights reserved. Reproduction or forwarding of this document to others is prohibited. www.itsma.com | F022AS | 8
  9. 9. ITSMA Survey | 2012 How B2B Buyers Consume InformationStudy Countries Represented % of Respondents Germany 13%Methodology (N=299) France 15%In Fall 2012, ITSMA surveyed, via the Web, 299business and IT executives from companies that US 57%purchase business or technology solutions forindividual contracts over $500,000. These respondents UK 15%represented larger enterprises, with 47% having$1 billion or more in annual revenue from fourdifferent countries: US, UK, France, and Germany,. What is your company’s primary business?Respondents were interviewed in the following vertical % of Respondents (N=299)markets: Other Manufacturing (Consumer/Industrial, 24 Process/discrete) Communications (telecom, media, entertainment) 14 Financial Services (Banking, Insurance (except healthcare), and investments) 19 Public sector/Healthcare Public sector/Healthcare 20 Financial Services (banking, insurance, and Communications (Telecom, media, entertainment) investments) Other (Retail/wholesale, transportation, 22 Manufacturing (consumer/industrial, energy/utilities/oil/mining/gas, business services, process/discrete) travel and hospitality, aerospace/defense) Note: Other includes, retail/wholesale, transportation, energy/utilities/oil/mining/gas, business services, travel and hospitality, aerospace/defense Source: ITSMA, How B2B Buyers Consume Information Study, 2012© 2012 ITSMA. All rights reserved. Reproduction or forwarding of this document to others is prohibited. www.itsma.com | F022AS | 9
  10. 10. ITSMA Survey | 2012 How B2B Buyers Consume Information Respondent Job Role Are you a business or Characteristics IT professional? % of Respondents (N=299) Business 39% Purchase Involvement Which of the following best describes your IT involvement with your organization’s purchase 61% of major technology solutions for individual contracts over $500,000? % of Respondents (N=299) Job Title Influencer: I provide Which of the following most input to help the closely describes your job title? Decision maker: % of Respondents (N=299) evaluators and 33 I have budget decision makers 13 67 and/or final Evaluator: sign-off 25 authority 23 I research potential 19providers for inclusion 18 on the shortlist/Ievaluate the providers on the shortlist and select the best solution Manager Director/ VP/Senior C-level, GM, Assistant VP VP/Head President Source: ITSMA, How B2B Buyers Consume Information Study, 2012 © 2012 ITSMA. All rights reserved. Reproduction or forwarding of this document to others is prohibited. www.itsma.com | F022AS | 10
  11. 11. ITSMA Survey | 2012 How B2B Buyers Consume InformationAnnual Revenue of OrganizationsRepresented What is your Female gender? 24%Approximately, what is your company’s annual % ofrevenue? (or operating budget if government) Respondents (N=299)% of Respondents (N=299) 25 21 21 Male 76% 14 What is your age? % of Respondents 6 6 6 35 34 (N=299) $100– $250– $500– $1– $5– $10– Over 249M 499M 999M 4.9B 9.9B 20B $20B 20 5 6 18–24 25–34 35–44 45–54 55+ Source: ITSMA, How B2B Buyers Consume Information Study, 2012© 2012 ITSMA. All rights reserved. Reproduction or forwarding of this document to others is prohibited. www.itsma.com | F022AS | 11
  12. 12. ITSMA Survey | 2012 How B2B Buyers Consume InformationTable of Contents for Three Trends You Can’tIgnore: Results from the ITSMA How Buyers Want to learn more?Consume Information Survey, 2012 Here’s what’s included in the full study Slide Executive Summary 3 Detailed Findings 36 Respondent Demographics 36 Current Environment: Challenges, Budgets, and 44 Priorities Buyer Behavior 50 Sources of Information 54 Solution Provider Websites 60 Social Media 65 Value of Sales 71 Solution Provider Selection Criteria 77 Crosstabs: 80 By Social Media Use 80 By Country 122 For More Information By Age 160 Julie Schwartz By Job Role 198 Senior Vice President By Job Title 235 Research and Thought Leadership By Size of Company 273 ITSMA By Industry 311 Email: jschwartz@itsma.com Phone: +1-781-862-8500, Ext. 112© 2012 ITSMA. All rights reserved. Reproduction or forwarding of this document to others is prohibited. www.itsma.com | F022AS | 12
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×