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How Buyers Consume

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  • 1. How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014 2ND Annual Great Indian IT Marketing Summit Bangalore, India | 11 February 2014 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom Highlights from ITSMA’s Annual B2B Customer Research Dave Munn, President & CEO, ITSMA twitter hashtag: #ITSMA14 Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 1 Customers have a ravenous appetite for information and ideas they average hours a week keeping up with the industry 5 and almost half average hours a week 9 Tweet at #ITSMA14 Source: ITSMA/CFO,How Buyers Consume: Marketing Content, Sales2013 How B2B Buyers Consume Information Survey, Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 2 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: info@itsma.com | Internet: www.itsma.com Page 1
  • 2. How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014 ...but they have lots of choices and are being bombarded with invitations and propositions …and a lot of it is not relevant, targeted, interesting, readable, or in formats they desire Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 4 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: info@itsma.com | Internet: www.itsma.com Page 2
  • 3. How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014 So what’s our solution? Providers are planning increased investments in thought leadership, content, and skills #1 Priority for Marketers #1 Thought leadership development and dissemination Tweet at #ITSMA14 Planned Spending Increase #1 Content development Essential Skill for Future Success Writing/ story telling/ editing/ publishing How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 5 Over the last few years we’ve learned the following about customer’s knowledge-seeking behavior More learning from solution providers (Increased solution provider credibility) More learning from sales (Importance of sales) More learning from multiple marketing channels (Decline of peer influence) More learning from social sources (Rise of the social buyer) Based on 700+ responses from global B2B buyers of large-scale, complex technology-based solutions. Source: ITSMA, How B2B Buyers Consume Information Study, 2012, 2011 Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 6 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: info@itsma.com | Internet: www.itsma.com Page 3
  • 4. How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014 Our 2013 research revealed the importance of people early in the sales cycle—especially your experts Need for person-to-person marketing Expanding role of subject matter experts (SMEs) Based on 438 responses from global B2B buyers of large-scale, complex technology-based solutions Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013 . Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 7 Early in the buying process, digital sources of information are not the only sources of information—people matter! When you are keeping up with the industry and learning about technology solutions, how do you tend to distribute your time among the various sources of information? Mean % of Time (N=427) People-based sources = 45% Offline 21% With solution providers or outside experts Online 34% 22% With peers 23% Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013 Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 8 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: info@itsma.com | Internet: www.itsma.com Page 4
  • 5. How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014 Buyers rely on multiple information sources, often moving effortlessly between on- and offline When you are keeping up with the industry and learning about technology solutions, how do you tend to distribute your time among the various sources of information? Mean % of Time (N=427) 1. 2. 3. 4. Top Offline Sources Solution provider materials Management consultant reports Industry analysts reports 21% Trade publications Top Solution Provider or Outside Expert Sources 1. Solution provider SMEs 2. Solution provider sales 3. Solution provider events 4. Management consultants 5. Industry analysts 34% Top Online Sources 1. Solution provider websites 2. Web search 3. Trade media websites 22% 23% Top Peer Sources 1. My own company 2. Other companies 3. Membership-based councils or private communities Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013 Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 9 According to ITSMA’s 2012 research results, 70% of buyers want to engage with sales reps before they identify their shortlist At what stage of the buying process do you find it most useful to engage with sales reps? % of Respondent (N=270) 70% 24 24 23 16 14 Stage 1. Stage 2. Stage 3. Stage 4. Stage 5. EPIPHANY AWARENESS INTEREST CONFIDENCE LOYALTY Keeping up with industry/ technology news and events Learning more about potential solutions and solution providers Identifying a shortlist of solution providers Evaluating and selecting a solution provider/ making the final decision Building ongoing relationship with solution provider post-purchase Source: ITSMA, How B2B Buyers Consume Information Study, 2012 Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 10 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: info@itsma.com | Internet: www.itsma.com Page 5
  • 6. How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014 Sales people are not obsolete; they are much more than order takers 76% satisfaction of B2B buyers report with their most recent sales experiences One of the top drivers of satisfaction during the sales experience is a knowledgeable and experienced sales team Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013 Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 11 Buyers recognize that sales people provide significant value during the purchase process Seller • Provide product or service information • Help navigate among alternative solutions • Help build the business case Conduit • Put buyer in touch with SMEs • Provide references Thought Leader • • • • Provide insights on technology trends Provide insights on business trends Challenge thinking Educate on opportunities in changing the status quo Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013 Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 12 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: info@itsma.com | Internet: www.itsma.com Page 6
  • 7. How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014 We have a disconnect between what buyers and marketers think sales should be doing Buyer Priorities for Sales Marketer Priorities for Sales 1. Provide product or service information 1. Help build the business case 2. Put buyer in touch with SMEs 2. Provide insights on business trends 3. Help navigate among alternative solutions 3. Challenge thinking 4. Educate on opportunities in changing the status quo 5. Educate on opportunities in changing the status quo 5. Provide insights on business trends 6. Provide references 6. Provide references 7. Provide insights on technology trends 8. Challenge thinking 4. Provide insights on technology trends 7. Put buyer in touch with SMEs 8. Help navigate among alternative solutions 9. Help build the business case 9. Provide product or service information Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013 Source: ITSMA Survey: Thought Leadership Selling, September 2013 Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 13 Expanding Role of Subject Matter Experts (SMEs) Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 14 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: info@itsma.com | Internet: www.itsma.com Page 7
  • 8. How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014 SMEs play a critical role in the purchase process, no matter who you are or where you’re from Top People-based Sources of Information  SMEs IT  Industry analysts Finance  SMEs  Own staff  Own staff  SMEs Business Top People-based Sources of Information  SMEs North  Own staff America  Other peers Europe Asia/LA  SMEs  Own staff  SMEs  Management consultants  Industry analysts Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013 Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 15 Most buyers feel they have adequate access to SMEs, but there is room for improvement During the sales process, how would you describe your organization’s access to the solution provider’s subject matter experts? % of Respondents (N=427) 1 16 Poor—We have extremely limited access to subject matter experts Fair—We have access to the subject matter experts sporadically 55 Good—The subject matter experts are available and responsive, but it would be better if we could spend more time with them 29 Excellent—We have as much access to the subject matter experts as we need—they are available and responsive Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013 Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 16 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: info@itsma.com | Internet: www.itsma.com Page 8
  • 9. How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014 The most credible SMEs are those who demonstrate knowledge of the buyer’s business What criteria do you use to evaluate solution provider subject matter expert credibility? % of Respondents (N=438) Understanding of my business issues 46 Real world experience working in the industry/vertical I am interested in 44 Knowledge of my industry trends 40 Number of years of experience 28 New or innovative ideas 28 References 27 Thought leadership/white papers 19 Education/certifications 19 Resume: job title, current and prior employers 19 Content of blog posts 13 Published book(s) Number of Twitter followers 10 8 % Rank 1st % Rank 2nd % Rank 3rd Note: Respondents were asked to rank order top three. Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013 Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 17 Implications for B2B Marketers Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 18 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: info@itsma.com | Internet: www.itsma.com Page 9
  • 10. How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014 Implication for B2B Marketers: Online, offline, and people-based interactions need to be seamlessly integrated  Complement digital marketing with high-touch, person-to-person initiatives  Lay the groundwork for omnichannel marketing How do you tend to distribute your time among the various sources of information? Mean % of Time (N=427) Offline 21% Solution providers/ outside experts 34% Online 22% 23% Peers Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 19 CSC is building the infrastructure to support omnichannel marketing Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 20 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: info@itsma.com | Internet: www.itsma.com Page 10
  • 11. How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014 Implication for B2B Marketers: The role of marketing and sales is education; SMEs have to be part of the process The sales and marketing partnership is really a triumvirate Marketing Sales SMEs Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 21 Marketers need to work more closely with SMEs, grooming and enabling them  Cultivate, manage, and train SMEs  Tap into their expertise and facilitate content creation  Provide account intelligence, additional content, and tools  Make SMEs more accessible  Proactively promote SMEs and help them build their brands Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 22 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: info@itsma.com | Internet: www.itsma.com Page 11
  • 12. How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014 Marketing also needs to enable sales to do thought leadership selling Understands the business model Uses thought leadership to engage audience Uncovers needs that audience doesn’t yet know Can discuss challenges and opportunities without talking about products/services But don’t neglect the importance of delivering product and service information through the sales force! Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 23 KPMG Market Ready Express Packs give sales easy access, training, and tools Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 24 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: info@itsma.com | Internet: www.itsma.com Page 12
  • 13. How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014 Infosys uses SMEs to “sell” to the sales force http://www.infosys.com/IT-services/infrastructure-management-services/Pages/index.aspx Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 25 Six key buyer trends to guide your marketing strategies and tactics Rise of thought leadership and content Increasing solution provider credibility Need for person-to-person marketing Value of sales in the early stages Expanding role of subject matter experts (SMEs) Importance of omnichannel marketing Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 26 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: info@itsma.com | Internet: www.itsma.com Page 13
  • 14. How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014 Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 27 Thank You! David C. Munn President & CEO ITSMA www.itsma.com dmunn@itsma.com +1-781-862-8500, Ext. 117 Tweet at #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 28 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: info@itsma.com | Internet: www.itsma.com Page 14