How and Why Buyers Buy in 2015 (Psychology, Technology, and B2B Marketing, Oh My!)
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Webinar slides from my presentation with BrightTalk - learn how to market to today's empowered, distracted, stressed out B2B buyer. To view the recorded on-demand version: http://cintell.net/why-buyers-buy-in-2015-on-demand-webinar-recording/
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How and Why Buyers Buy in 2015 (Psychology, Technology, and B2B Marketing, Oh My!)
- 1. How Buyers Buy in 2015: Psychology, Technology, and B2B, Oh My! Ka#e  Martell  Co-ÂâFounder,  CMO,  Cintell  @Ka%eMartell Â
- 2. Hi, Iâm Katie Martell â˘âŻ Co-Founder, CMO at Cintell â˘âŻ Career B2B marketer â˘âŻ Not a psychologist Kmartell@Cintell.net @KatieMartell linkedin.com/in/katiemartell Understand your buyers. Be customer-centric. Now in private beta: www.cintell.net
- 3. 3 Â The next 45 minutes of your day: Agenda What Makes Buyers Buy? 5 Psychological Shifts in Todayâs Buyer Marketing to Todayâs B2B Buyer
- 4. 4  Todayâs Buyer Technological   Changes  Social   Changes  Emo%onal   Changes Â
- 5. 5  âPeople buy... to  elevate  their  emo#onal  state,  whether  by  removing  a  nega%ve,  sa%sfying  aspira%ons,  or  gaining  a  posi%ve.  They  are  solving  and  improving  both  prac%cal  and  emo%onal  problems  and  situa%ons.   And  even  purely  prac%cal  purchases  are  strongly  inďŹuenced  by  an  emo#onal  overlay  of  things  like  self-Ââiden%ty,  belonging,  obliga%on,  or  boredom.â Â
- 6. 6 Â The pervasiveness of technology:
- 7. 7  The Average American household has internet ⨠connected devices. 6
- 8. 8  More than of marriages between 2005-2012 began online 1 3 Pew  Research  Center Â
- 9. 9  videos are viewed every day. 4,000,000,000 YouTube  In 2004, Youtube didnât exist. Now
- 10. 10  of Americans ⨠own a ⨠smartphone 2 3 Pew  Research  Center Â
- 11. 11 Â âThe hunt for happiness has evolved.â
- 12. 12 Â Innovation optimism Companies that win today excite consumers and satisfy their craving for new Psychological Shift #1
- 13. 13 Â Brands that incorporate technology and innovation are viewed as smarter, cooler, and more consumer-centric.
- 14. 14  Heritage can be baggage âTried and trueâ is simply tired ⨠and old to todayâs consumers
- 15. 15  Psychological Shift #2 Consumer empowerment Consumers know the inďŹuence they have with brands, and itâs permanently affected their expectations with businesses.
- 16. 16 Â 1,000,000,000,000 conversations going on about brands in the US annually -Keller Fay Group
- 17. 17  Consumer empowerment Consumers know the inďŹuence they have with brands, and itâs permanently affected their expectations with businesses.
- 18. 18 Â Psychological Shift #3 Faster Ways of Thinking âOur sense of time, ability to focus, and capacity for attention have shifted gears.â
- 19. 19  â˘âŻ SCAN rather than read â˘âŻ Bombarded by constant interruptions â˘âŻ Crave stimulation â˘âŻ Easily distracted â˘âŻ Less tolerance for ambiguity Our Malleable Minds
- 20. 20  Weâre more anxious about keeping track⨠of all this information, and an expectation that we will be available around the clock, robbing us of focus. Continuous Partial Attention
- 21. 21 Â More than 68% of adults who own multiple devices use 2+ screens to âgrazeâ unrelated content. It takes an average of 64 seconds to recover your train of thought after an email interruption. -PsyBlog
- 22. 22 Â Memorization and precision are less essential â itâs easy to check facts and spelling. We are trained to scan and process mountains of information quickly. Mountains of information
- 23. 23 Â Psychological Shift #4 Symbol power Consumers do not make decisions logically and consciously
- 24. 24 Â The power of symbols Today, our interruption-driven, overstimulated, distracted consumers have less ability to focus and let conscious brain space make decisions.
- 25. 25  â˘âŻ Red = excitement â˘âŻ White + Pink = Sincerity â˘âŻ Brown = competence and ruggedness â˘âŻ Purple = sophistication
- 26. 26 Â Outperformed green by 21% -Hubspot
- 27. 27 Â 23% more $$$ âOrganicâ
- 28. 28  Our brains simplify numbers We subconsciously latch on to the ďŹrst number in a price tag. $299 = $200
- 29. 29 Â Fusiform face area How the brain processes images of faces, tied closely to emotion.
- 30. 30 Â Psychological Shift #5 New ways of connecting Buyers are more guarded, but seek connection.
- 31. 31  High-tech, low-touch Consumers seek a sense of connection and belonging â something they increasingly ďŹnd online and through brands.
- 32. 32  Part  2:  Marke#ng  to  Todayâs  B2B  Buyer Â
- 33. 33 Â
- 34. 34 Â The average B2B buyer has completed 57% of the purchase process before engaging a vendorâs sales team. - CEB/Google
- 35. 35 Â âThe nature of marketing has exploded from an ancillary communications function to the Grand Central Station of customer experience.â
- 36. 36 Â
- 37. 37 Â By 2020 the B2B ecommerce market will be twice as large as the B2C market â $6.7 trillion vs. $3.2 trillion. - Frost & Sullivan
- 38. 38 Â
- 39. 39  â˘âŻ Petroleum and petroleum products â˘âŻ Pharmaceuticals and druggist sundries â˘âŻ Durable goods â˘âŻ Motor vehicles, parts and supplies â˘âŻ Electrical and electronic goods â˘âŻ Machinery, equipment and supplies
- 40. 40 Â 73% of B2B buyers prefer a website to a salesperson.
- 41. 41 Â Content marketing: Everybodyâs doing it.
- 42. 42 Â Consumers are 5x more dependent on content than they were 5 years ago. - Nielsen
- 43. 43 Â 75% of B2B buyers rely more on content to research and make B2B purchasing decisions than a year ago - DemandGen Report
- 44. 44 Â Consumers engage with 11.4 pieces of content prior to making a B2B purchase. - Forrester
- 45. 45 Â Brands that simplify consumer decision making and the purchase process have customers who are are 86% more likely to purchase and are 115% more likely to recommend them. -CEB
- 46. 46  Stop making buyers ⨠jump over hurdles.
- 47. 47 Â âNo one will ever complain that youâve made things too simple to understand.â -Ann Handley
- 48. 48  The Full Buying Committee InďŹuencer  Decision-Ââmaker  End-Ââuser Â
- 50. 50 Â Today, consumers are more likely than ever to be swayed by emotion rather than logic.
- 51. 51  Selling to stressed out buyers: â˘âŻ Prone to inertia â˘âŻ Rely more heavily on trusted experts â˘âŻ Highly sensitive to complexity
- 52. 52  Emotion inďŹuences the B2B buy even more than logic and reason. - CEB
- 53. Part 3: What Makes Buyers Buy?
- 55. 55 Â Buyers are 3X more likely to move away from pain than move towards potential gain. - Tim Riesterer
- 56. 56 Â Gain is a leap of faith
- 57. 57 Â Whatâs In It For Me?
- 59. 59 Â A B 236% Increase
- 60. 60 Â Suspicion + Doubt
- 61. 61 Â âThought leadership is all about having the answers to the biggest questions on the minds of your buyers, and providing your unique perspective on these hot topics.â - Michael Brenner
- 62. 62  Basic Human Needs: #1 To grow. #2 To contribute ⨠beyond ourselves.
- 64. 64 Â Business = the antithesis of humanity? Fewer than 3 in 10 Americans say that corporate Americaâs reputation is positive.
- 65. 65 Â Be Transparent âPeople donât buy what you do, they buy why you do it.â - Simon Sinek
- 66. 66 Â Deep down, buyers want to be able to relax their guard and buy and love products without vigilance.
- 67. Thank you! Kmartell@Cintell.net @KatieMartell linkedin.com/in/katiemartell Get the guide >>> http://bit.ly/persona-guide