how buyers consume

14
How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2 ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014 Page 1 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: [email protected] | Internet: www.itsma.com How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 1 Tweet at #ITSMA14 Highlights from ITSMA’s Annual B2B Customer Research Dave Munn, President & CEO, ITSMA How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom 2 ND Annual Great Indian IT Marketing Summit Bangalore, India | 11 February 2014 twitter hashtag: #ITSMA14 How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 2 Tweet at #ITSMA14 Customers have a ravenous appetite for information and ideas they average hours a week keeping up with the industry and almost half average hours a week 9 5 Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013

Upload: paul-writer

Post on 10-May-2015

335 views

Category:

Technology


1 download

TRANSCRIPT

Page 1: How Buyers Consume

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom

2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014

Page 1 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA

Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: [email protected] | Internet: www.itsma.com

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 1 Tweet at #ITSMA14

Highlights from ITSMA’s Annual B2B Customer Research

Dave Munn, President & CEO, ITSMA

How Buyers Consume:

Marketing Content, Sales

Knowledge, and SME Wisdom

2ND Annual Great Indian IT Marketing Summit

Bangalore, India | 11 February 2014

twitter hashtag:

#ITSMA14

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 2 Tweet at #ITSMA14

Customers have a ravenous appetite

for information and ideas

they average

hours a week

keeping up with

the industry and almost

half average

hours

a week 9

5

Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013

Page 2: How Buyers Consume

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom

2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014

Page 2 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA

Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: [email protected] | Internet: www.itsma.com

...but they have lots of choices

and are being bombarded with

invitations and propositions

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 4 Tweet at #ITSMA14

…and a lot of it is not relevant,

targeted, interesting, readable,

or in formats they desire

Page 3: How Buyers Consume

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom

2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014

Page 3 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA

Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: [email protected] | Internet: www.itsma.com

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 5 Tweet at #ITSMA14

So what’s our solution? Providers are planning increased investments in thought leadership, content, and skills

Thought

leadership

development

and

dissemination

Priority for

Marketers

Content

development

Planned

Spending

Increase #1

#1

Writing/

story telling/

editing/

publishing

Essential

Skill for

Future

Success

#1

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 6 Tweet at #ITSMA14

Over the last few years we’ve learned the following about customer’s knowledge-seeking behavior

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

More learning

from social

sources

(Rise of the

social buyer)

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)

Page 4: How Buyers Consume

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom

2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014

Page 4 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA

Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: [email protected] | Internet: www.itsma.com

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 7 Tweet at #ITSMA14

Our 2013 research revealed the importance of people early in the sales cycle—especially your experts

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

.

Expanding role of

subject matter

experts (SMEs)

Need for

person-to-person

marketing

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 8 Tweet at #ITSMA14

34%

23%

22%

21%

Online

With peers

With solution

providers or

outside

experts

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)

Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013

People-based

sources =

45%

Early in the buying process, digital sources of information are not the only sources of information—people matter!

Page 5: How Buyers Consume

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom

2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014

Page 5 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA

Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: [email protected] | Internet: www.itsma.com

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 9 Tweet at #ITSMA14

Top Peer Sources

1. My own company

2. Other companies

3. Membership-based councils

or private communities

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

Top Online Sources

1. Solution provider websites

2. Web search

3. Trade media websites

Top Offline Sources

1. Solution provider materials

2. Management consultant reports

3. Industry analysts reports

4. Trade publications

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)

34%

23%

22%

21%

Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 10 Tweet at #ITSMA14

70%

According to ITSMA’s 2012 research results, 70% of buyers want to engage with sales reps before they identify their shortlist

Source: ITSMA, How B2B Buyers Consume Information Study, 2012

At what stage of the buying process do you find it most useful to engage with sales

reps? % of Respondent (N=270)

24 23

24

16 14

Stage 5.

LOYALTY Stage 4.

CONFIDENCE Stage 3.

INTEREST Stage 2.

AWARENESS Stage 1.

EPIPHANY 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

Page 6: How Buyers Consume

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom

2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014

Page 6 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA

Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: [email protected] | Internet: www.itsma.com

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 11 Tweet at #ITSMA14

Sales people are not obsolete; they are much more than order takers

Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013

of B2B buyers report

satisfaction

with their most

recent sales

experiences

76%

One of the top

drivers of satisfaction

during the sales experience is a

knowledgeable

and experienced sales team

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 12 Tweet at #ITSMA14

Buyers recognize that sales people provide significant value during the purchase process

Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013

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

Page 7: How Buyers Consume

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom

2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014

Page 7 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA

Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: [email protected] | Internet: www.itsma.com

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 13 Tweet at #ITSMA14

We have a disconnect between what buyers and marketers think sales should be doing

1. Provide product or service

information

2. Put buyer in touch with SMEs

3. Help navigate among alternative

solutions

4. Educate on opportunities in

changing the status quo

5. Provide insights on business

trends

6. Provide references

7. Provide insights on technology trends

8. Challenge thinking

9. Help build the business case

Buyer Priorities for Sales

Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013

1. Help build the business case

2. Provide insights on business

trends

3. Challenge thinking

4. Provide insights on technology trends

5. Educate on opportunities in

changing the status quo

6. Provide references

7. Put buyer in touch with SMEs

8. Help navigate among alternative

solutions

9. Provide product or service

information

Marketer Priorities for Sales

Source: ITSMA Survey: Thought Leadership Selling,

September 2013

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 14 Tweet at #ITSMA14

Expanding Role of Subject Matter Experts (SMEs)

Page 8: How Buyers Consume

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom

2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014

Page 8 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA

Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: [email protected] | Internet: www.itsma.com

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 15 Tweet at #ITSMA14

SMEs play a critical role in the purchase process, no matter who you are or where you’re from

Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013

Top People-based

Sources of

Information

IT

SMEs

Industry analysts

Finance

SMEs

Own staff

Business

Own staff

SMEs

Management

consultants

Industry analysts

Top People-based

Sources of

Information

North

America

SMEs

Own staff

Other peers

Europe

SMEs

Own staff

Asia/LA SMEs

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 16 Tweet at #ITSMA14

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)

Source: ITSMA/CFO, How B2B Buyers Consume Information Survey, 2013

29

55

16

1

Poor—We have extremely limited access to subject matter experts

Fair—We have access to the subject matter experts sporadically

Good—The subject matter experts are available and responsive, but it would be better if we could spend more time with them

Excellent—We have as much access to the subject matter experts as we need—they are available and responsive

Page 9: How Buyers Consume

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom

2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014

Page 9 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA

Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: [email protected] | Internet: www.itsma.com

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 17 Tweet at #ITSMA14

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)

46

44

40

28

28

27

19

19

19

13

10

8

Understanding of my business issues

Real world experience working in the industry/vertical I am interested in

Knowledge of my industry trends

Number of years of experience

New or innovative ideas

References

Thought leadership/white papers

Education/certifications

Resume: job title, current and prior employers

Content of blog posts

Published book(s)

Number of Twitter followers

% 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

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 18 Tweet at #ITSMA14

Implications for B2B Marketers

Page 10: How Buyers Consume

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom

2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014

Page 10 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA

Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: [email protected] | Internet: www.itsma.com

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 19 Tweet at #ITSMA14

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)

34%

23%

22%

21% Online

Solution

providers/

outside

experts

Offline

Peers

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 20 Tweet at #ITSMA14

CSC is building the infrastructure to support omnichannel marketing

Page 11: How Buyers Consume

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom

2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014

Page 11 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA

Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: [email protected] | Internet: www.itsma.com

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 21 Tweet at #ITSMA14

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

Marketing Sales

SMEs

is really a triumvirate

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 22 Tweet at #ITSMA14

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

Page 12: How Buyers Consume

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom

2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014

Page 12 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA

Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: [email protected] | Internet: www.itsma.com

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 23 Tweet at #ITSMA14

Marketing also needs to enable sales to do thought leadership selling

But don’t neglect the importance of

delivering product and service

information through the sales force!

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

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 24 Tweet at #ITSMA14

KPMG Market Ready Express Packs give sales easy access, training, and tools

Page 13: How Buyers Consume

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom

2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014

Page 13 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA

Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: [email protected] | Internet: www.itsma.com

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 25 Tweet at #ITSMA14

Infosys uses SMEs to “sell” to the sales force

http://www.infosys.com/IT-services/infrastructure-management-services/Pages/index.aspx

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 26 Tweet at #ITSMA14

Six key buyer trends to guide your marketing strategies and tactics

Rise of thought leadership and content

Value of sales in the early stages

Increasing solution provider credibility

Need for person-to-person marketing

Expanding role of subject matter experts (SMEs)

Importance of omnichannel marketing

Page 14: How Buyers Consume

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom

2ND Annual Great Indian IT Marketing Summit | Bangalore, India | 11 February 2014

Page 14 ITSMA | 91 Hartwell Avenue | Lexington, Massachusetts 02421-3137 USA

Phone: +1-781-862-8500 | Fax: +1-781-674-1366 | Email: [email protected] | Internet: www.itsma.com

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 27 Tweet at #ITSMA14

How Buyers Consume: Marketing Content, Sales Knowledge, and SME Wisdom | E021114 | © 2014 ITSMA. All Rights Reserved. | 28 Tweet at #ITSMA14

Thank You! David C. Munn President & CEO

ITSMA

www.itsma.com

[email protected]

+1-781-862-8500, Ext. 117