The B2B buying process has significantly changed over time, with additional stakeholders getting involved and more than 70% of the buyer’s journey being completed before a sales engagement. But one thing still remains the same. Influencing the IT decision maker (ITDM) is critical when it comes to technology purchases.
Meet the Buying Collective
In our research that includes feedback from thousands of ITDMs and business decision makers (BDMs), we’ve gained a deep understanding of a group of stakeholders that we call the “buying collective.” The buying collective includes six to eight people on average with varying levels of involvement from each member – who have their own unique priorities, must-haves, and brand preferences. While some stakeholders dip in and out of the buying process, IT involvement is a constant throughout the process, from determining need, to evaluating solutions/brands, and recommending solutions/vendors.
ITDMs provide valuable and trusted technology advice, engaging others who may approve funds and purchases potentially including the Owner/CEO, COO/CFO, CIO/CTO, line of business owners, finance, and others who provide input before an organization makes final decisions.
Technology Purchase Drivers
While ITDM’s and BDMs often work in sync to drive technology purchase decisions, reaching out to each group requires a unique approach and persona-specific messaging. ITDMs are typically the unsung heroes within organizations, often dealing with heavy workloads (operating “behind the scenes” to keep vital technology and infrastructure running) that only grew larger due to the rise of remote work following the outbreak of COVID-19 in early 2020.
Many IT departments will continue to evolve as workers prepare to return to offices in a post-pandemic world – often supporting a hybrid environment where at any time, sizable portions of the workforce will operate at home, in remote locations, and/or in the office.
As a result, organizations across the world are focused on enabling the following initiatives through technology:
- Keeping workers safe and productive with transition fluidity between home and work settings
- Migrating workloads to the cloud
- Enabling more seamless communications between physically distant coworkers
- Preparing for future disasters that might force temporary closure of office buildings
Purchase Complexities
Almost all buying decisions involve multiple challenges and complexities that are unique to each organization. Keep the following factors in mind when planning marketing campaigns:
- Timing: Even after engaging and nurturing key members of the buying collective, the length of the purchase life cycle varies depending on the technology and number of stakeholders involved. Create a full-funnel marketing campaign that’s consistent with the average sales cycle for your product/service.
- Technical: Complex technical requirements and dependencies can stall purchase decisions, potentially for months, requiring a shift in budget timeframes that may push to a new fiscal year. ITDMs seek out more technical content as they progress through the buyer’s journey, so be sure to make this information easily accessible.
- Organizational: The reporting structure within companies and key stakeholders involved in purchase decisions can vary at each organization depending on the technology being evaluated. Consider focusing on priority segments and repurpose content when possible with tailored messaging.
- Outreach: The increased workload that comes with supporting remote employees–in addition to changes in business communication preferences—makes it harder to reach busy prospects through traditional channels.
Reaching and Engaging the Buying Collective
Now that you’ve identified key stakeholders that can influence – if not drive – technology purchases, how do you reach and engage with them?
- Target and engage in-market accounts through account-based marketing. The most successful ABM campaigns are fueled by contextually relevant first-party and third-party intent data that offer deep insights into how likely a prospect is to buy.
- Segment your target audience and tailor messaging to speak to stakeholders’ pain points.
- Create full-funnel campaigns to drive brand awareness and demand generation including hosting virtual or hybrid events and encouraging ratings and reviews.
- Go where the decision makers hang out. Engage prospects online by participating in online discussions, answering questions, and responding to negative feedback if applicable. For example, the Spiceworks Community and Toolbox are popular forums marketers use to reach stakeholders in IT, marketing, HR, and finance.
Interested in learning more about the buying collective and how it differs depending on the organization and technology? Contact us to speak with our research and analyst team.