B2B technology, like any industry vertical, comes with its own set of unique challenges. In a sector that shows no signs of slowing down, things change often and fast. To meet their goals, sales and marketing professionals within B2B tech companies must keep abreast of the latest developments within the space to ensure they’re meeting the expectations of the buyers they’re trying to win over.
The stats below capture how buyers’ preferences in the B2B tech industry are evolving, and can help inform and improve your sales and marketing campaigns.
58% of businesses currently purchase technology from at least 7 different vendors.
Businesses today have a multitude of requirements for B2B technology and are willing to purchase from multiple vendors to solve them. Clearly, businesses have no aversion to working with several vendors at once, despite the inevitable complexity this adds for all solutions to work seamlessly within the same tech stack. This only adds to the pressure that buyers are under. Therefore, if you can make the buying process as frictionless as possible, you may win a larger share of their wallet further down the road.
47% of tech buyers spend 3-4 months researching a solution before even speaking to a vendor.
You may have the best sales team in the world, but before they can work their magic, the prospect needs to actually engage with them. Given that buyers spend a whole quarter or more looking into various solutions, the content you provide during this phase is crucial. The most successful B2B tech companies craft a rich library of content to educate their prospects about how they can help solve the problems they’re facing. To do this well, you’ll need to have a deep understanding of your customers’ pain points and develop material personalized to their needs. Creating dedicated buyer personas is one way to tackle this.
Only 1% of tech buyers say thought leadership isn’t valuable.
If you or anyone within your team needs convincing about the value of thought leadership in your content marketing strategy, let this statistic be all the evidence you need. Thought leadership enables you to demonstrate your expertise and authority to your prospects, reassuring them you’re a worthy of their usually limited budgets. Tech purchases can sometimes be viewed as a commodity, so you want to stand out from the crowd with compelling thought leadership content that gives the buyer an insight into the unique personality of your brand.
19% of tech buyers first become aware of a brand via social media.
It would be outdated to think social media is only useful in B2C markets. However, there is a common tendency to think it’s still not possible to leverage it in quite the same way for B2B. Evidently, that’s not the case, given almost a quarter of buyers first discover a new brand via social. Ensuring you have a strong brand presence across all of your social platforms is now a non-negotiable element of your B2B tech marketing strategy.
43% of tech buyers are very interested in webinars when considering purchasing from a new vendor.
Thought webinars were simply a pandemic-driven craze? Think again! Nearly half of tech buyers are interested in attending one when looking into new vendors. They can be a daunting medium to start with, but don’t anticipate the value of the content you already have in your arsenal that can be converted into a webinar format. For example, consider your most successful eBooks, whitepapers, or reports and devise a way to convert them into an educational webinar.
Adapt to the Changing Preferences of Today’s B2B Tech Buyers
B2B tech is forever changing, and so are the needs of its consumers. To successfully sell their products and services, vendors providing B2B technology solutions must have up-to-the-minute information on the preferences of their buyers. To provide exactly this, we commissioned a survey of 750 business leaders to find out how they navigate the tech buying process. Find out what they had to say in our benchmark report, “The B2B Tech Buyer’s Journey: New Insights, New Influences.”
Get the latest content from DemandScience in your inbox.
Not getting enough B2B leads? Or perhaps you’re struggling to convert your email prospects? Find out how you…Read More
Every sales rep knows the frustration of sorting through piles of prospective leads, and then still having to…Read More
Make your next event the most successful one yet with these trade show lead generation ideas. Discover how…Read More