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The Evolution of Technology Buying Committees: Changing Roles, Ages, and Expectations - MarketingProfs

The Evolution of Technology Buying Committees: Changing Roles, Ages, and Expectations - MarketingProfs | The MarTech Digest | Scoop.it
In most companies, tech-buying committee includes members from non-technology functions (e.g., Finance, Sales, Marketing) as well as Millennials. See more from this LinkedIn Marketing research.
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How B2B Tech Buyers Evaluate Vendors: Most Valued and Trusted Information Types

How B2B Tech Buyers Evaluate Vendors: Most Valued and Trusted Information Types | The MarTech Digest | Scoop.it
When evaluating B2B tech products or services, technology buyers value hands-on experiences, such as free trials, over marketing collateral from vendors. See this research summary for details.
CYDigital/marteq.io's insight:

Excellent data.

 

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Recognizing B2B Buying Triggers - Gartner

Recognizing B2B Buying Triggers - Gartner | The MarTech Digest | Scoop.it
Buying triggers vary widely and are linked to your solution area.  A security breach is a buying trigger for some.  For others, a security breach of their competitors is the trigger.    New management could be a buying trigger.   An application hitting the end of its support cycle often triggers buying.   A company investing in another product could be a trigger for your service (or maybe its a trigger for your service in about 12 months).

One of the areas of potential waste in sales and marketing is overselling (or even over educating) when there is no trigger.   Yes, we need to build awareness,  but educating without a trigger–or exposing or creating a trigger–isn’t going to win any business today.  It may help in the future, but, frankly, you probably should invest less in those areas than ones where triggers exist (or you can create them easily).

So, my recommendation for opening the new year more effectively is to focus on triggers.  Build a list of the events or situations that trigger customers to buy your products or services.   Then expand that list with ideas for how you can determine if the trigger is going to occur (or is likely to occur).   Explore if there are ways you can use stories to create the trigger.     Prioritize the list based on which ones are most important to you for success.
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These Departments Wield The Most Influence Over B2B Purchase Decisions - MarketingCharts

These Departments Wield The Most Influence Over B2B Purchase Decisions - MarketingCharts | The MarTech Digest | Scoop.it
It probably comes as no surprise that the departments most involved in B2B purchase decisions varies by industry. Recently-released survey data from LinkedIn provides some insight as to the departments that wield the most influence, and those industries in which the greatest number of departments are involved.
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What You Need to Know about the Changing B2B Buying Process - Kapost Content Marketing Blog

What You Need to Know about the Changing B2B Buying Process - Kapost Content Marketing Blog | The MarTech Digest | Scoop.it

MarTech is the best tool available to bridge the gap between Sales and Marketing. Contact us to see how.

CYDigital/marteq.io's insight:

And the action item? Have the right persona-fied content available at every point. Bring them along their own process.

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Study: 93% of B2B buyers say reviews drive major purchase decisions - FierceCMO

Study: 93% of B2B buyers say reviews drive major purchase decisions - FierceCMO | The MarTech Digest | Scoop.it

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CYDigital/marteq.io's insight:

The third paragraph is most telling: only 6% are very trusting of vendor information. Combine this with the adjacent scoop where surveys are an excellent source of data, and you can see the value of independent information.

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The Journey to B2B Technology Purchases – B2B Team Buying Thickens the Plot - Gartner

The Journey to B2B Technology Purchases – B2B Team Buying Thickens the Plot - Gartner | The MarTech Digest | Scoop.it

Digest...


My big concern is that most journey maps focus on the needs of one buyer persona.  But our research shows that B2B technology purchase decisions are made by teams.   Fulfilling the journey of a single buyer may not get the job done.

 

If you think about, B2B Buying is a lot like The Wizard of Oz or other similar quest oriented stories.  You have one lead character (the champion) who is the focus of the quest—without that person, there is not story.    But she is joined by others on the journey.  They want different things.  While supporting the main character, they will also follow some different paths.  

 

As a technology marketer and seller, it is crucial to understand all the players on buying teams and what decisions they are responsible for.  You need to understand their buying process in detail. (If we had asked the right questions about what it takes to buy, we might have been able to address the approved vendor issue earlier in the process and helped our champion accelerate the process).  There will be commonalities across customers, but some unique attributes for each one (everyone’s quest is a bit different).  You should ask them what their buying process is.   Then make sure you are addressing all of the sub-decisions that have to be made, by different people, to get to the final decision.

 

One good idea is to map the journey of the persona of your internal champion.  That persona is the most invested in seeing the purchase move to completion.  As part of their journey, they’ll want to understand and assist other’s in completing their work.   You may find you then need to map the journeys of other key players, but the “champion map” becomes your lead.

 

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CYDigital/marteq.io's insight:

Dear lord, this complicates matters! He's right: the persona of the lead is important, but it's the team that drives the decision. Mapping of the buying process, with all defined roles, is indeed critical.

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Ann Windham's curator insight, October 1, 2014 9:27 PM

#tradeshows #meetingprofs #eventprofs The Journey to B2B Technology Purchases – B2B Team Buying Thickens the Plot - Gartner