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DMA09 Lead Gen Y Rsch Slide Share


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Presentation to DMA09 - Oct 20, 2009

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DMA09 Lead Gen Y Rsch Slide Share

  1. 2. Information Gathering Practices in B2B Purchase Processes An Experimental Look at Generation Y Behaviors
  2. 3. Objective <ul><ul><li>Gain Insights into Gen Y in B2B Purchasing Behavior </li></ul></ul><ul><ul><li>Compare Their Use of Traditional, Web2.0 & Social Media, and Access Devices: Desktops, Laptops, Mobiles </li></ul></ul><ul><ul><li>Demonstrate How Gen Y Mixes/Matches Info Tools </li></ul></ul><ul><li>Goal: Conceptualize Gen Y’s use of Media / Devices in B2B Purchasing </li></ul>
  3. 4. Media Tools Checklist <ul><li>Traditional Media (7) </li></ul><ul><ul><li>Talk with Others in Person or by Phone </li></ul></ul><ul><ul><li>TV </li></ul></ul><ul><ul><li>Print </li></ul></ul><ul><ul><li>Radio </li></ul></ul><ul><ul><li>Mail </li></ul></ul><ul><ul><li>Trade Shows </li></ul></ul><ul><ul><li>Business Directory (paper) </li></ul></ul><ul><li>Web2.0/Social Media (13) </li></ul><ul><ul><li>Web Searches </li></ul></ul><ul><ul><li>Browse Websites </li></ul></ul><ul><ul><li>Blogs: Read -- Comment </li></ul></ul><ul><ul><li>Business Directory (online) </li></ul></ul><ul><ul><li>Email -- Facebook </li></ul></ul><ul><ul><li>LinkedIn -- MySpace </li></ul></ul><ul><ul><li>RSS Feeds -- Twitter </li></ul></ul><ul><ul><li>Wikipedia -- YouTube </li></ul></ul>
  4. 5. Sampling <ul><ul><li>Gen Y (21-30) in B2B Roles: N=308 </li></ul></ul><ul><ul><li>Great Thanks to PeanutLabs for access to its panel </li></ul></ul>
  5. 6. Our Methodology <ul><li>Get Baseline Media Usage </li></ul><ul><li>Ask Gen Y to “Create” B2B Purchase Processes </li></ul><ul><ul><li>Free Form Feedback </li></ul></ul><ul><ul><li>Actions in Sequence </li></ul></ul><ul><li>Use Checklists to Specify B2B Processes </li></ul><ul><ul><li>20 Media Tools </li></ul></ul><ul><ul><li>3 Access Devices </li></ul></ul>
  6. 7. 1. Baseline: Popular Media “Ever” Used
  7. 8. Popular Media Usage: A Mixture Traditional Tools 4 of 14
  8. 9. 1. Baseline: Regular Use (3+/week)
  9. 10. 2. Gen Y Creates B2B Purchase Process <ul><li>Pose Hypothetical Purchase Situation: </li></ul><ul><li>“ Suppose your company needed a product or service…” </li></ul><ul><li>Create / Describe Process in own words : </li></ul><ul><li>“… where you would look… </li></ul><ul><li> … what you would do first…do next ,... do last to </li></ul><ul><li>conclude your search for info on this product or service.” </li></ul>
  10. 11. 2. B2B Purchase Processes Identified <ul><li>Gen Y Mixes Traditional & Online Media toward Buy Decision </li></ul><ul><ul><li>Search & Gather </li></ul></ul><ul><ul><li>Assemble & Narrow </li></ul></ul><ul><ul><li>Validate & Select </li></ul></ul><ul><li>It’s Familiar, Common Sense - Logical, Tried & True </li></ul><ul><li>But: Improvised, Comprehensive - Complex, Interactive </li></ul>
  11. 12. A,B,C’s of B2B Purchase Process <ul><li>A. “… surf the web and try to learn more about the product or service, both through… official website and… online reviews and comments …if possible… research… in print media, such as journals and Consumer Reports .” </li></ul><ul><li>B. “… contact each company to narrow... consideration set , learn about their services, and possibly schedule an in-person meeting ” </li></ul><ul><li>C. “ contact businesses who use the product or service” and “see what my friends have to say about it” </li></ul>
  12. 13. Wide Spectrum: High Tech, High Touch <ul><li>“ I would look online for any info I need. I wouldn't look anywhere else , the Internet's the best place .” </li></ul><ul><li>“ 1. Look…listen for new products ( TV, magazines, radio, other stores ) that would be relevant… </li></ul><ul><li>2. Talk with customers and listen to their suggestions …requests </li></ul><ul><li>3. Submit … report of…opportunities within the business </li></ul><ul><li>4. Corporate makes final decision.” </li></ul>
  13. 14. Social Media Play Emerging Roles <ul><li>“… Last place that I would go to look for information… would be sites such as Twitter , Facebook, MySpace .” </li></ul><ul><li>“ I would use a search engine, Google perhaps, MySpace , TV, browse web sites for different content, YouTube , Facebook , via phone or in person.” </li></ul><ul><li>“… first,…Google, then look it up on Wikipedia . After that… Facebook and MySpace ” </li></ul><ul><li>“… First… Twitter because that is a site where you talk about ideas.” and “… YouTube , Twitter , and Wikipedia …my first destinations.” </li></ul>
  14. 15. When Does Traditional Happen? <ul><li>Beginning: “… start research by speaking to others w/whom I work, then follow these leads on Web… If…unable to find information on Web…try to find hard-copy information .” </li></ul><ul><li>Middle: “… Next ,… talk to coworkers and peers in the field to get their experiences and opinions. Lastly ,…research product/service in print media ” </li></ul><ul><li>End: “…first…the Internet…abundance of information. Then…other venues… magazines and such ,…find out more about company/product/service… also talk to other people .” </li></ul>
  15. 16. Creative, Complicated, Indirect <ul><li>“ I don't know if there would be a specific order , </li></ul><ul><li>rather… reach out for all available information </li></ul><ul><li>and then research and decide accordingly.” </li></ul>
  16. 18. 3. Media Tools Would Use in Search
  17. 19. 3. Search Exercise ≠ Regular Media Use
  18. 20. 3. Use of Mobile Devices in Info Search
  19. 21. Perspective and Implications <ul><li>Searching and Browsing Sites are where it starts, so… </li></ul><ul><ul><li>This is a Good Time to Get Right With Google </li></ul></ul><ul><li>A,B,Cs of B2B Buy Process: Multiply Your Presence, Customize </li></ul><ul><ul><li>A. Search & Gather B. Assemble & Narrow C. Validate & Select </li></ul></ul><ul><li>Processes Gen Y Will Devise are Complex, Varied, Interactive </li></ul><ul><ul><li>Buyers will Individualize & Adapt to Tasks at Hand </li></ul></ul><ul><li>So, Be Multi-Media Active , Watch Social Media and Mobile </li></ul><ul><li>Famous Chicago Slogan to the Contrary Notwithstanding: </li></ul><ul><li>… in this case: More Is More! </li></ul>