Abbreviated Summary | December 2012
Results from the ITSMA
How Buyers Consume Information Survey, 2012
Julie Schwartz Senior Vice President Research and Thought Leadership ITSMA
Dianne Kim Research Associate ITSMA
Three Trends You Can’t Ignore
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ITSMA Survey | 2012 How B2B Buyers Consume Information
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Abbreviated Summary
Last year’s ITSMA buyer research uncovered shocking revelations about changes in buyer behavior, most notably the
decline of traditional peer influence and the rise of the B2B social buyer. This year’s data confirms these two trends
and introduces a new one. Here are the three trends you can’t ignore:
In our 2012 buyer research, ITSMA is seeing major shifts in buyer behavior and preference in information
consumption. More than ever, buyers are looking to many different sources to inform their decisions.
Read this report to find out how to most effectively reach and engage with today’s buyer.
Note: This abbreviated summary highlights some of the significant findings from
Three Trends You Can’t Ignore: Results from the ITSMA How Buyers Consume Information Survey,
2012. A more in-depth analysis can be found in the full report.
1) Solution providers are a credible and influential source of information, even more so than peers.
1
3) Contrary to popular belief, buyers rely on sales at all stages of the buying process.
2) B2B social buyers and traditional buyers do consume information differently.
2
3
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ITSMA Survey | 2012 How B2B Buyers Consume Information
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Last year’s study introduced the rise of
the B2B social buyer, who uses
on social media and online communities
during the purchase process. This year’s
data provides more insight on the profile
of the B2B social buyer.
They are young senior executives
with clout; for the most part they are
under 40, are decision-makers, and
belong to the IT organization. They
spend more time consuming content
than their traditional counterparts and
are less likely to delegate research during
the early stage of the buying process.
We are dealing with a new type of buyer:
proactive and empowered.
The B2B Social Buyer is a young executive
with clout
Age* 51
36
14
31
33
36
18–34
35–44
45–54
B2B Social Buyer(N=139)
Traditional Buyer(N=160)
73
27
51
49
IT
Business
Job Role*
19
17
25
40
31
19
22
28
Manager
Director/Assistant VP
VP/Senior VP/Head
C-level, GM, President
Job Title*
* Indicates a statistically significant difference. There were no significant differences found by size of company, industry, or gender. Source: ITSMA, How B2B Buyers Consume Information Study, 2012
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ITSMA Survey | 2012 How B2B Buyers Consume Information
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The research results validate
that solution provider websites are now
the primary and source of information
for buyers during the early stages
of the buying process.
Many buyers turn first to solution
provider resources before they seek
counsel from their peers.
Peers, while still important as a
source of referral, recommendations,
and references, are no longer
the best source of information.
What were the first three sources of information you turned to when you began your solution research? (Rank order 1st, 2nd, 3rd) % of Respondents (N=299)
Buyers turn to solution provider
information sources first
36
29
28
27
27
23
21
19
17
14
13
12
10
9
8
6
Technology or solution provider websites
Technology or solution provider subject matter experts
Web search
Technology or solution provider sales people
Peers/colleagues
Industry analysts
Management consultants
Industry events/trade shows
Focused online communities/social networks
Focused industry or trade media
General business media
Sourcing advisors
Universities, research institutes, think tanks
Local or national professional trade associations
Social media/networks
Blogs 1st 2nd 3rd
Note: Respondents were asked to rank order top three. Source: ITSMA, How B2B Buyers Consume Information Study, 2012
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ITSMA Survey | 2012 How B2B Buyers Consume Information
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We see an elevation in
solution provider credibility
At the same time the data shows
the decline in conventional peer
influence, we also see a rise in solution
provider credibility.
Buyers endorse solution
provider subject
matter experts (SMEs)
as the most credible source of
information during the
purchase process.
Solution provider
websites, and even sales people,
are also high on the list.
Traditional buyers are twice
as likely to rank peers as a
credible source of information than are
the B2B social buyers. But even the
traditional buyer find the solution
provider resources to be trustworthy!
Note: Up to three responses allowed; respondents were asked to rank order top three sources. *Indicates a statistically significant difference. Source: ITSMA, How B2B Buyers Consume Information Study, 2012
B2B Social Buyer
(N=139)
Traditional Buyer
(N=160)
32
29
28
24
23
16
25
20
13
13
16
12
16
8
17
8
Technology or solution provider subject matter experts
Technology or solution provider websites
Industry analysts
Management consultants
Technology or solution provider sales people
Peers/colleagues*
Web search
Focused industry/professional online communities
Industry events/trade shows
,Focused industry or trade media
Sourcing advisors
General business media
Universities, research institutes, think tanks
Local or national professional trade associations
Social media/networks*
Blogs
Which of the following sources of information are most credible? % of Respondents Rank in Top Three
35
28
25
21
28
31
17
18
18
19
15
11
15
14
2
4
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ITSMA Survey | 2012 How B2B Buyers Consume Information
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B2B Social Buyer
(N=139)
Traditional Buyer
(N=160)
Marketers jobs are complex, they must
rebalance the marketing mix
Although both types of buyers are hungry
for fact-based content and thought
leadership, they differ when it comes to
preferred delivery channels or formats.
Addressing the needs of both B2B social
and traditional buyers means
marketers must re-balance the marketing mix and do a bit of everything to meet
the information demands and preferences
of a bifurcated market.
Note: Respondents were asked to rank order top three channels. *Indicates a statistically significant difference. Source: ITSMA, How B2B Buyers Consume Information Study, 2012
Which information delivery channels or formats do you typically prefer? % of Respondents
28
25
22
19
19
17
17
17
17
15
13
13
12
9
9
8
6
6
Research reports
Social media*
Email newsletters*
In-person seminars/conferences/tradeshows*
Print journals/magazines
Virtual seminars/conferences/tradeshows*
Webinars
Sales calls or private briefings
Digital magazines
Videos
Website copy
Blogs*
White papers
Brochures (hard copy)/datasheets
eBooks
Direct mail
RSS Feed or other newsfeeds
Podcasts
32
6
11
42
20
28
22
22
11
9
18
6
15
11
8
11
7
3
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70% 24 23 24
16 14
Sales is being brought back to the
conversation
Contrary to conventional wisdom,
buyers are no longer waiting longer
and longer to engage with sales. The
pendulum is swinging yet again and
sales is being invited to join
the conversation, at all
stages of the buying process.
But there’s a catch!
Sales people are expected to
educate and provide new and
provocative perspectives on the
market and technology solutions.
Marketing must enable sales
to do thought leadership selling
and act as the “frontline” subject-
matter experts.
Stage 1. Epiphany
Stage 2. Awareness
Stage 3. Interest
Stage 4. Confidence
Stage 5. Loyalty
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
70% of B2B technology solutions buyers want to engage with
sales reps before they identify their shortlist.
-ITSMA
Source: ITSMA, How B2B Buyers Consume Information Study, 2012
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ITSMA Survey | 2012 How B2B Buyers Consume Information
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Buyer behavior is changing at an accelerated pace and
marketers need to be at least one step
ahead of them, not constantly trying to
catch up. Marketers must leverage
solution provider credibility and give
buyers what they want: Easy-to-find
quality information, access to SMEs,
and strong thought leadership,
via both marketing campaigns and sales
interactions, that educates
buyers and bolsters
their company’s
reputation as an
industry leader.
Source: ITSMA, How B2B Buyers Consume Information Study, 2012
34
29
26
26
24
1st 2nd 3rd
Buyers want easy to find information and
access to solution provider SMEs
Note: Respondents were asked to rank order top three.
Technology or solution provider subject matter experts
Technology or solution provider websites
Industry analysts
Technology or solution provider sales people
Peers/colleagues
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ITSMA Survey | 2012 How B2B Buyers Consume Information
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Study
Methodology In Fall 2012, ITSMA surveyed, via the Web, 299
business and IT executives from companies that
purchase business or technology solutions for
individual contracts over $500,000. These respondents
represented larger enterprises, with 47% having
$1 billion or more in annual revenue from four
different countries: US, UK, France, and Germany,.
Respondents were interviewed in the following vertical
markets:
Manufacturing (Consumer/Industrial,
Process/discrete)
Financial Services (Banking, Insurance
(except healthcare), and investments)
Public sector/Healthcare
Communications (Telecom, media, entertainment)
Other (Retail/wholesale, transportation,
energy/utilities/oil/mining/gas, business services,
travel and hospitality, aerospace/defense)
Countries Represented % of Respondents (N=299)
US
57%
UK
15%
France
15%
Germany
13%
Note: Other includes, retail/wholesale, transportation, energy/utilities/oil/mining/gas,
business services, travel and hospitality, aerospace/defense
Source: ITSMA, How B2B Buyers Consume Information Study, 2012
What is your company’s primary business? % of Respondents (N=299)
22
20
19
14
24 Other
Communications (telecom, media, entertainment)
Public sector/Healthcare
Financial Services (banking, insurance, and
investments)
Manufacturing (consumer/industrial,
process/discrete)
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Respondent
Characteristics Purchase Involvement
Which of the following best describes your involvement with your organization’s purchase of major technology solutions for individual contracts over $500,000? % of Respondents (N=299)
67
19
13
Job Role
Are you a business or IT professional? % of Respondents (N=299)
Job Title
Which of the following most closely describes your job title? % of Respondents (N=299)
Source: ITSMA, How B2B Buyers Consume Information Study, 2012
IT
61%
Business
39%
25
18
23
33
Manager Director/
Assistant VP
VP/Senior
VP/Head
C-level, GM,
President
Decision maker:
I have budget
and/or final
sign-off
authority
Evaluator:
I research potential
providers for inclusion
on the shortlist/I
evaluate the providers
on the shortlist and
select the best
solution
Influencer: I provide
input to help the
evaluators and
decision makers
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Annual Revenue of Organizations
Represented
Approximately, what is your company’s annual revenue? (or operating budget if government) % of Respondents (N=299)
What is your gender?
% of Respondents
(N=299)
Male
76%
Female
24%
5
35 34
20
6
18–24 25–34 35–44 45–54 55+
6
21
25
21
14
6 6
$100–
249M
$250–
499M
$500–
999M
$1–
4.9B
$5–
9.9B
$10–
20B
Over
$20B
What is your age? % of Respondents
(N=299)
Source: ITSMA, How B2B Buyers Consume Information Study, 2012
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Want to learn more? Here’s what’s included in the full study
Table of Contents for Three Trends You Can’t Ignore: Results from the ITSMA How Buyers Consume Information Survey, 2012
For More Information Julie Schwartz Senior Vice President Research and Thought Leadership ITSMA Email: [email protected] Phone: +1-781-862-8500, Ext. 112
Slide
Executive Summary 3
Detailed Findings 36
Respondent Demographics 36
Current Environment: Challenges, Budgets, and Priorities
44
Buyer Behavior 50
Sources of Information 54
Solution Provider Websites 60
Social Media 65
Value of Sales 71
Solution Provider Selection Criteria 77
Crosstabs: 80
By Social Media Use 80
By Country 122
By Age 160
By Job Role 198
By Job Title 235
By Size of Company 273
By Industry 311