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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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
© 2017 DEMANDBASE|SLIDE 16
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
© 2017 DEMANDBASE|SLIDE 17
YOU WILL GET IT WRONG!
© 2017 DEMANDBASE|SLIDE 22
SITE OPTIMIZATION IN REAL LIFE
Here’s what we recommend for Dell
© 2017 DEMANDBASE|SLIDE 23
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:
© 2017 DEMANDBASE|SLIDE 29
SALES & MARKETING DIVIDE IS CLOSING
OLD MODEL
MQLC
LOSE
IDEN
TIFY
MARKETING SALES
MARKETING
SALES
CLO
SE
NEW MODEL
IDEN
TIFY
© 2016 DEMANDBASE|SLIDE 30
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
© 2016 DEMANDBASE|SLIDE 31
ACCOUNT IDENTIFICATION
§ Recommends high value accounts most likely to buy
§ Account specific insights§ Business landscape§ Recommended contacts§ Current investments§ Personalized news
© 2016 DEMANDBASE|SLIDE 32
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/