Live Webcast: Rethink the Tech Buyer's Journey
Transcript of Live Webcast: Rethink the Tech Buyer's Journey
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Rethink the
Tech Buyer’s Journey
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Hello! Kelly Kyer Global Lead - Technology Vertical Marketing LinkedIn
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Housekeeping…
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Rethink the
Tech Buyer’s Journey 1. The Tech Buying Committee
• Why does it matter • Why does it exist • Who is it
2. Why and how should you use content to reach and unify your buying committee • Multiple functions • Common goals
3. Content is not just about lead generation… • Think beyond the sale • Align with your sales and post-sales teams
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Rethink the
Tech Buyer’s Journey 1. The Tech Buying Committee
• Why does it matter • Why does it exist • Who is it
2. Why and how should you use content to reach and unify your buying committee • Multiple functions • Common goals
3. Content is not just about lead generation… • Think beyond the sale • Align with your sales and post-sales teams
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A huge shift is under way. Boundaries are blurring in many dimensions — not just between IT leaders and their business colleagues... IT strategy and business strategy are no longer
separate; they have become inseparable.
Why the Tech Committee matters?
Source: Accenture Technology Vision 2014; http://www.accenture.com/microsites/ittechnology-trends-2014/Pages/tech-vision-report.aspx
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ITDM Multiple titles with: • Budget • Purchase authority • Influence
Operations Finance Sales Marketing HR
The Tech Buying Committee: Then
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The Tech Buying Committee: Now
Operations Finance Sales Marketing ITDM HR
Now all possess budget, purchase authority, and influence in tech buying
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Technology decision making is beyond the senior IT department
78%
of the Technology buying Committee works outside of IT
30% 61%
are individual contributors or managers
control part or all of the IT Budget
LinkedIn, Nurturing the IT Committee Research 2014: In which department do you work? In which of the following stages of IT decision-making are you currently involved?
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10+ million global LinkedIn members who influence IT
decisions across departments and seniorities
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Growing 1.25x
faster than general member growth
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We surveyed 3,800+ technology decision-makers globally
But, who are they?
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Hardware Software & Services
We looked at technology buyers in 2 ways.
Six Stages of Technology Buying*
Spec/Fund Vendor Choice Implement Manage Renew Identify Needs
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4-6 months 4-6 months 4-6 months 4-6 months 4-6 months 1-2 months
12 months+ time involved in all stages of buying across hardware and software & services
Source: Andy Bartels, Forrester, “Understanding Shifting Technology Acquisition Patterns,” February 2014
And we looked at their ENTIRE journey
The Buying Cycle: It’s long, but well worth the trip
45% 52%
59%
51%
62%
50%
Needs Specs/Funding Vendor Choice Implementation Management Renewal
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4+ functions (% among buyers participating in each stage)
4+ functional groups can be involved at each stage.
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
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On average, 5.4 people are involved in today’s B2B purchase decisions.
SOURCE: CEB/Motista 2013 B2B Brand Survey
Number of Group Members
Chance of Purchase
It’s Important because Group size matters
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
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Which means there’s only a 30-50% chance of purchase
Number of Group Members
Chance of Purchase 17 SOURCE: CEB/Motista 2013 B2B Brand Survey
It’s Important because Group size matters
So who’s our tech buying committee?
Engineering Operations
IT
Business Development
Purchasing
Support
Sales
Finance
Project Management
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IT 1 1 Engineering 1 1 Operations 1 1 Prog. and Proj. Mngmnt 1 2 Finance 1 2 Bus. Development 3 2 Support 2 3 Accounting 3 - Marketing - 2 Purchasing 3 - Sales - 2 Research 3 - Consulting/Ext. Consultant - 3
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Hardware Software & Services
The buying committee is a complex group...
* Each function’s’ importance was ranked across four measures: 1) perceived leadership in six stages of buying; 2) likelihood of being cross-functional partner to a leading role; 3) propensity to be a formal decision maker; and 4) perceived influence on vendor opinion among those involved in Vendor Choice. Gartner source: http://my.gartner.com/portal/server.pt%3Fopen%3D512%26objID%3D202%26mode%3D2%26PageID%3D5553%26ref%3Dwebinar-rss%26resId%3D1871515
Extremely Important 1 VeryImportant 2 Important 3 Importance to the decision process*
IT 1 1 Engineering 1 1 Operations 1 1 Prog. and Proj. Mngmnt 1 2 Finance 1 2 Bus. Development 3 2 Support 2 3 Accounting 3 - Marketing - 2 Purchasing 3 - Sales - 2 Research 3 - Consulting/Ext. Consultant - 3
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Hardware Software & Services
…in some surprising, often non-technical, functions.
* Each function’s’ importance was ranked across four measures: 1) perceived leadership in six stages of buying; 2) likelihood of being cross-functional partner to a leading role; 3) propensity to be a formal decision maker; and 4) perceived influence on vendor opinion among those involved in Vendor Choice. Gartner source: http://my.gartner.com/portal/server.pt%3Fopen%3D512%26objID%3D202%26mode%3D2%26PageID%3D5553%26ref%3Dwebinar-rss%26resId%3D1871515
Extremely Important 1 VeryImportant 2 Important 3 Importance to the decision process*
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Rethink the
Tech Buyer’s Journey 1. The Tech Buying Committee
• Why does it matter • Why does it exist • Who is it
2. Why and how should you use content to reach and unify your buying committee • Multiple functions • Common goals
3. Content is not just about lead generation… • Think beyond the sale • Align with your sales and post-sales teams
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Discussed technology solution/vendor with…
1%
13%
22%
45%
51%
70%
Others
Friends/family
Thought leaders
Colleagues not directly involved in process
Technology users (e.g., via usage stats, surveys)
Professional peers
Who’s helping buyers navigate their journey?
discuss technology solution/vendor with an outside party
86% 86%
buyers look outside the buying committee for opinions
8 in 10
2 to 4 distinct pieces of content at each stage of the purchase journey
Content consumption happens at every stage.
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So, what motivates this diverse group of decision-makers?
Proj. Mgmt. Finance Accounting
Top Factors Driving Willingness to Engage with Sales
IT Engineering Bus. Dev. Operations Purchasing Sales Support
Bases: N=32-598, recent technology buyers (last 3 months) in key functions In general, how important are the following factors in your willingness to engage with sales professionals and other employees of [technology type] vendors? 24
Subject Matter Expertise
Consultation/Education/Tools
Business Model
Costs/Business Impact
User Adoption
Know/Trust Product /Service
Tier 1 audiences Tier 2 audiences
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Top reasons vendors make the short list:
Bases: Technology decision process participants (last 3 months) in 11+ person companies across 11 major markets who shortlisted a company that is “new” (i.e., their company never worked with it)
Subject Matter Expert-Consultation
Features-Functionality
Cost-Price-Terms
Quality-Reliability
References-Trust
The best way to build customer consensus isn’t to do a better job of connecting individual customer stakeholders to the supplier but
to more effectively connect customer stakeholders to one another.
26 https://hbr.org/2015/03/making-the-consensus-sale
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Top types of information sought in each stage of IT decision-making process
Identify Needs Spec/Fund Vendor Choice Implement Manage Renew
IT industry news / strategy info 1
Product / solution demo / software trial 3
Best practices, how-to’s, checklists 2
Earn more interest with a variety of content
Diagnostic / assessment tools 4
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Start with content about general industry topics, prioritized for your audience
Author or promote expert content on the direction and use of your industry’s products
Promote branded user reviews and case studies to drive consideration and selection of your company
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Three types of education
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Rethink the
Tech Buyer’s Journey 1. The Tech Buying Committee
• Why does it matter • Why does it exist • Who is it
2. Why and how should you use content to reach and unify your buying committee • Multiple functions • Common goals
3. Content is not just about lead generation… • Think beyond the sale • Align with your sales and post-sales teams
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The technology space is more competitive than ever.
21%
Hardware
31%
Software & Services
(% who shortlisted a “new” vendor)
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Hours spent researching at each stage – Last 3 Months
Know when and where content engagement is most critical.
Base: N=583-631 recent technology buyers in 11+ person companies across 11 major markets – participating in each stage
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Needs Specs Vendors Implementing Managing renewing
Top Resources Used • Vendor website • Blogs, forums, boards • Technology media • Social Media • Webinars
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40%
50%
60%
70%
80%
90%
Needs Specs/Funding Vendor Choice Implementation Management Renewal
Hardware for End Users
Software & Services
Engaged Directly with Vendors – Last 3 Months (% among buyers recently participating in each stage)
Engagement is constant throughout the journey…
Bases: Technology decision participants (last 3 months) in 11+ person companies across 11 major markets in each market who recently participated in each stage Hardware for End Users n=140-173, Software for End Users n=163-199, Data Center Hardware n=142-162, Data Center Software n=132-167
12 months+
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40%
50%
60%
70%
80%
90%
Needs Specs/Funding Vendor Choice Implementation Management Renewal
Hardware for End Users
Software & Services
Engaged Directly with Vendors – Last 3 Months (% among buyers recently participating in each stage)
…and there are peak times pre- and post-sale.
Bases: Technology decision participants (last 3 months) in 11+ person companies across 11 major markets in each market who recently participated in each stage Hardware for End Users n=140-173, Software for End Users n=163-199, Data Center Hardware n=142-162, Data Center Software n=132-167
12 months+
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0%
10%
20%
30%
40%
50%
60%
Salesperson reached out Attended event…by vendor Spoke/emailed with support Professional peer...referred me I submitted my contact information I reached out to sales
Interactions across all tech buyers
Spec/Fund Vendor Choice Implement Manage Renew Identify Needs
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0%
10%
20%
30%
40%
50%
60%
Salesperson reached out Attended event…by vendor Spoke/emailed with support Professional peer...referred me I submitted my contact information I reached out to sales
Support, Sales and Peers are the top three sources of interaction at every stage.
Spec/Fund Vendor Choice Implement Manage Renew Identify Needs
67%
36 36 LinkedIn, Nurturing the IT Committee Research 2014: How significant is the role education plays in the following types of decisions undertaken by your organization?
More likely to consider an IT vendor who educates me through each stage of the decision process
Educating throughout the purchase funnel makes generating leads more effective
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Technology buyers engage intensively throughout the process. Top Relevant Topics Engaged on LlinkedIn, 3 Mos Prior
cloud computing data center
business analysis active directory
itil xss
pricing hadoop
amazon ec2 asp.net
computer security vmware
solution architecture databases
internationalization scalability
offshore operations vulnerability automation
pci dss business requirements
etl vdi sla iam Solr
user experience cloud computing
agile methodologies data warehousing predictive analytics information security
security data integration
symmetrix amazon ec2
xss data center
vsphere hp-ux
scalability hadoop
websphere mq sql injection load testing databases
cyber warfare emv
rational performance tester consulting
performance appraisal
cloud computing amazon ec2
vmware performance testing
sun information security
x.509 project management
windows 7 data center
emv open source software
xml scalability
eai omniscript
jquery microsoft sql server
it service management abap
test automation jboss application server java enterprise edition
mobile computing operating systems
db2
outsourcing supplier development
data center personnel management
cloud computing sun
defects computer security
websphere mq google technologies
open source software mobile payments
xss nfc
data warehousing performance appraisal
future trends cyber warfare
business process scalability
oa framework hall
iso 9000 sql injection
it outsourcing healthcare information
technology db2
temenos t24
cloud computing business analysis
amazon ec2 vmware
ad networks mobile payments
negotiation project management
scalability l-1
vulnerability zfs
defects richfaces
ios development websphere portal
consulting java enterprise edition
telemedicine abap swt xss
iso 9000 eai junit
pim-dm requirements analysis
tomcat ide
cloud computing vmware
websphere mq outsourcing sql injection
financial services data center query tree
emv sun var
scalability eai
user research offshore operations
infrastructure business analysis
virtualization payment gateways
databases mobile applications
service level agreements app-v esb
mobile platforms future trends
sqoop
Spec/Fund Vendor Choice Implement Manage Renew Identify Needs
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78%
38 LinkedIn, Nurturing the IT Committee Research 2014: How significant is the role education plays in the following types of decisions undertaken by your organization?
of the Tech Committee require education to sustain or make a change to their ecosystem
But educational content is critical throughout the technology lifecycle.
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Like (353) Comment (33)
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EARNED Trust + Credibility
m u s t b e
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Rethink the
Tech Buyer’s Journey 1. The Tech Buying Committee
• Why does it matter • Why does it exist • Who is it
2. Why and how you should use content to reach and unify your buying committee • Multiple functions • Common goals
3. Content is not just about lead generation… • Think beyond the sale • Align with your sales and post-sales teams
Broaden your targeting to include more functions. The more people who know about your brand, the
more likely you are to make it to the short list.
Craft content that extols the cross-functional benefits of your products and services. Unify your buying
committee. The brands that do this win.
Make sure your content strategy continues with your customers post-sale – they want to hear from you
throughout their entire purchase journey.
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Want more details? To learn more about the technology buying committee research, download the complete Beneath the Surface eBook.
To learn more about how to build and execute a stellar content marketing plan, download The Sophisticated Marketer’s Guide to Content Marketing.
Thank you