Best Takeaways from LinkedIn’s New ‘Enlightened Tech Buyer’ Report

23 Apr

Key Takewaways from LinkedIn's Educated Tech Buyer Report

Technology is one of the fastest-growing B2B sectors , for reasons that are self-evident. Because new solutions and innovations keep enhance the way businesses operate throughout every industry, every key division has increasing tech needs and purchasing power these days.

The folks at LinkedIn* lately released a 2019 global survey, The particular Enlightened Tech Buyer: Powering Client Decisions from Acquisition to Revival , and it worth attention from marketers of all lines. As the “ enlightened” descriptor suggests, tech buyers (for reasons which are also self-evident) tend to be ahead of the contour when it comes to research, consumption, and purchase actions.

These days we’ ll take a deeper take a look at LinkedIn’ s new data surrounding this trendsetting cohort, breaking down five important revelations within.

5 Telling Trends Uncovered in LinkedIn’ s Tech Purchaser Report

Here are some of the most eye-opening tidbits we all saw based on LinkedIn’ s study of “ 5, 241 worldwide professionals who participated in or even influenced the purchase of various equipment or software solutions at their own organization within the last three months. ”

#1 – Tech Buying Committees are Extensive and Diverse

We all know that, in general, B2B buying committees are expanding quicker than the Night King’ s army associated with wights . This particular dynamic is especially pronounced in the technology space.

“ Where previously 3/4 associated with enterprise employees were part of technologies decision-making, ” LinkedIn reports, “ today the total universe of end-users and decision-makers who impact company technology investments encompasses 4/5 associated with employees (roughly 86%). ”

Tech Buying Decision-Making

As tech services and products become increasingly integrated with every factor of an organization, more voices are entering play. End users, external influencers, plus cross-functional stakeholders all tend to have a task. This reinforces the imperative associated with establishing strong brand awareness within a business, which is a central focus associated with account-based marketing .  

#2 – The Purchase Cycle is certainly Shortening

The report notes that the procedure for reviewing, selecting, and implementing brand new tech solutions has accelerated in the last few years, with the average purchase routine now checking in at about twenty five months. This could be viewed as good news or even bad news, depending on how you look at it.

On the one hand, that’ s still a fairly long timespan, providing plenty of opportunity for marketing happy to make an impact. Meanwhile, the embrace velocity could suggest buyers have become more deliberate and urgent within identifying solutions.

But on the other hand, this also means that we all as marketers have a smaller home window than before to engage and convince. We now need to make each discussion count more than ever — especially if we’ re pursuing a new account. LinkedIn’ s study shows that shortlists have become more competitive than ever for suppliers.

#3 – Vendor Websites Are a Leading Resource

Across every B2B tech group, vendor website/mobile app is the best research destination for buyers. In combination, this source is followed by blogs/forums/discussion boards, product review websites, plus technology media/trade journals:

In short, buyers are seeking away trustworthy information — be it from the company’ s own website or even from unbiased third party resources. This particular accentuates the importance of building reliability with best-answer content , which can satisfy a decision maker’ s questions during research whilst also positioning your brand because helpful and knowledgeable.

#4 – Purchasers Want Partners, Not Sellers

Above all, technology buyers value the overall quality of the product or service above all when choosing a merchant. (Duh. ) But the next 2 factors are interesting: both the capability to consistently meet a buyer’ h needs, and the ability to answer queries to a buyer’ s satisfaction, position above affordability/pricing in importance:

Choosing a Vendor

This is why the particular customer experience is becoming this kind of overarching imperative . Effective marketing now goes over and above the scope of traditional features. Brands need to be readily available, with the correct content at the right time. Techniques must account for every touch stage. Always-on approaches are becoming standard. And this level of attentiveness should go outside of the actual purchase itself…  

#5 – Smooth Implementation is Essential

Per LinkedIn, “ The #1 indicator of client renewal success is successful adoption plus product satisfaction. ” No surprise right now there. But it’ s another tip of why the full customer encounter needs to be addressed.

“ The data shows immediate vendor engagement among buyers shedding off in later stages associated with purchase, meaning that there’ s a chance to be more present and engaged along with customers post-sale, ” according to the record. “ Marketers need to play the role in the implementation and ownership process of new technology. A seamless client experience also demands alignment along with customer support in activities, training plus key education resources. ”

How can marketing and advertising continue to shape experiences in these afterwards stages and after the sale? It’ s a vital consideration for success, since we all know the relative price of acquiring new customers compared to retaining current ones.

Follow the Tech Buyers

None of the nuggets revealed in LinkedIn’ s “ Enlightened Tech Buyer” report are specifically surprising, but they do reinforce a few of the trends we see playing out there at large:

  • Buying committees are becoming a lot more distributed
  • Researchers seek out objective information plus best-answer content
  • We need to help, not market
  • Marketing and advertising is starting to impact more areas of the customer experience

To get the full details on today’ s B2B technology buyer preferences, check out LinkedIn’ s record .

*Disclosure: LinkedIn is a TopRank Marketing client.

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