how buyers consume
TRANSCRIPT
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
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
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)
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!
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
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
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)
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
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
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
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
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
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
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
+1-781-862-8500, Ext. 117