The Call For Relevance Among B2B Buyers: Insights Into The 2017 Buyer Behavior Study

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AddressingtheCallforRelevanceAmongB2BBuyers:AnalysisandInsightsIntotheNewly-ReleasedB2BBuyerBehaviorStudy

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HowAreWeDoing?

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PanelistsMODERATOR:AndrewGaffneyEditorialDirectorDemandGenReport

LisaAmesVP,DemandGenerationDemandbase

@lisa_m_ames

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METHODOLOGY FOR REPORT?

What industry are you in?What is your title/role? What role did you play in this purchase?

Director

C-Level

Manager

High Tech

Business Services

Manufacturing

Professional Services

Other

Primary decision-maker

Influencer/recommender

Part of a team with equal influence on the purchase decision

Reviewed and approved terms

35%

13%

12%

11%

10%

28%

24%

24%

58%

31%

7%

4%

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RISK AVERSION & COMPLEX BUYING CYCLE

say they now have formal buying groups or buying committees in place to review purchases

say the number of buying group membersincreased significantly

say purchase decisions are often accelerated or put on hold based on changing business needs/priorities

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RISK AVERSION & COMPLEX BUYING CYCLE

Once you were at the point of evaluating a set list of solution providers, please rate the importance of these variables:

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AVERTING RISK = LONGER BUYING CYCLES

How has the length of your B2B purchase cycle changed, on average, compared with a year ago?

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FIRST IMPRESSIONS VIA THE WEB

The research showed the overwhelming majority of buyer journeys are starting on the web:

• 61% said they started with a broad web search• 56% said they started on specific vendor websites

Some of the most interesting findings relative to specific behaviors early in the buying journey:

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EXPECTATIONS FOR TAILORED EXPERIENCES

said it was very important that the site presented relevant content that spoke directly to their company;

said it was very important that the website spoke directly to the needs of their industry and the solution provider showed expertise in their area; and

of respondents valued vendors that “demonstrated experience with/knowledge of our industry.”

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ADS HAVING POSITIVE IMPACT

• 63% said they noticed ads from the solution provider they chose during the research phase.

• Nearly 1/3 of those respondents said it had a positive impact on their view of specific vendors

Did you notice ads from the solution provider you chose presented during your research process and did they influence your perception of that brand?

© 2017 DEMANDBASE｜SLIDE 15

FULL FUNNEL ACCOUNT-BASED MARKETING

MEASUREMeasure actionable insight on how to drive revenue or improve performance

IDENTIFYTarget the accounts with the most opportunity

CLOSEClose revenue with the right buyers and decision makers

CONVERTCapture valuable buying signals to convert them into selling opportunities

ATTRACTAdvertise to them and drive decision makers to your site

ENGAGEPersonalize your site experience for prospects, customers and partners


THE ACTUAL BUYER JOURNEY

HOMEPAGE

Pipeline

ROI PAPER

CUSTOMER LIST

REDISCOVERY

CASE STUDIES

DEMO FORM

LEADERSHIP

RESEARCH READY TO BUY

INDUSTRY

PRODUCT A

AWARENESS

BLOG

PRODUCT B

DISCOVERY

PRODUCT C

PRESS

LOST


YOU WILL GET IT WRONG!


SITE OPTIMIZATION IN REAL LIFE

Here’s what we recommend for Dell


REAL LIFE RESULTS

39%Exit Rate

467%Time on Site

292%Trial Sign up

254%Pages/Session

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BUYERS WANT ALL DETAILS EARLY IN PROCESS

The vendor could bring specific details of what to watch out for regarding integration and consulting requirements—they should have a semibaked project plan.” #Bii17

What was your timeline for taking the following steps in your buying process?

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INCREASED POWER OF PEERS

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• When buyers reached the point of evaluating a set list of solution providers, 67% said reviews were a “very important” consideration.

• 42% listed peers and colleagues as their top source of information.

We have changed the way we do B2B buying by looking at highly regarded recommendations to help influence decisions. This helps the initial determination of purchasing a particular product from a vendor.”

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INSIGHTS FOR SALES INCREASES TAILORED EXPERIENCE

Please rate the following statements as they relate to the winning vendor versus other vendors you considered:

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INSIGHTS FOR SALES INCREASES TAILORED EXPERIENCE

“Wished they would have been more informative and truly gained an in depth knowledge of how we do business.”

“Communicate with me using less technical terms…not waiting for responses from me.”

“Could have done stronger demo that included examples of how we could use the product to meet our unique needs instead of generic examples.”

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INSIGHTS = BETTER SALES CONVERSATIONSNumber of people felt their sales rep was educated about their company and needs and those who said this influenced their purchase decision:


SALES & MARKETING DIVIDE IS CLOSING

OLD MODEL

MQLC

LOSE

IDEN

TIFY

MARKETING SALES

MARKETING

SALES

CLO

SE

NEW MODEL

IDEN

TIFY


MARKETERS HAVE AN INCREASED ROLE IN ENABLING SALES

Utilize technology to find accounts with highest propensity to close

Work with Sales to refine and maintain the Target Account list

Provide the best contacts/identify the buying committee

Give Sales content to engage prospects with


ACCOUNT IDENTIFICATION

§ Recommends high value accounts most likely to buy

§ Account specific insights§ Business landscape§ Recommended contacts§ Current investments§ Personalized news


ACCOUNT-BASED SALES DEVELOPMENT

§ Recommended contacts identifies best individuals

§ Contact specific insights:§ Name, title§ Contact info§ What they’re saying§ Talking points§ Conversation builder

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DOWNLOAD THE FULL REPORT

Download the full B2B Buyer's Survey Report.

Available in Today's Resource List

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HowAreWeDoing?

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Q&A/PanelistsMODERATOR:AndrewGaffneyEditorialDirectorDemandGenReport

LisaAmesVP,DemandGenerationDemandbase

@lisa_m_ames

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ThankYouForAttendingRegisterformoresessionsnowthruJuly28th!PleaseJoinOurNextSessionTomorrowat12PMET/9AMPT

http://http://webinars.demandgenreport.com/buyer-insights-and-intelligence-series/2017/

The Call For Relevance Among B2B Buyers: Insights Into The 2017 Buyer Behavior Study

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Transcript of The Call For Relevance Among B2B Buyers: Insights Into The 2017 Buyer Behavior Study