Tuesday, July 16, 2024

How today’s tech buyers are enlightened to make smarter business decisions

When it comes to new technology investments, businesses feel the mounting pressure to successfully complete their digital transformation yet recent research reveals that nearly three quarters (71%) of IT projects are perceived as failures and fewer than one quarter (19%) of IT projects go live within budget and timeframe.

Considering that technology plays an essential role in driving smart business in today’s world of work, tech marketers have an opportunity to improve processes and create more efficient ways to capture the attention of buyers across the purchase landscape.

In order, for marketers to hone their approach to finding and engaging potential technology buyers in a more meaningful way, they must understand who the enlightened buyer is. The individuals responsible for shaping new business technology investments are often cross-functional, meaning marketers need to expand their targeting strategies beyond traditional IT and business decision-makers.

These professionals are enlightened with data-driven insights, enabling them to make more informed rational investment decisions for their organization, however with an excess of information comes an often-impenetrable level of marketplace noise. 

Marketers in the technology sector need to better understand who and where these new or existing buyers turn to for influence and how to provide a high-quality customer experience in order to stay relevant and continue driving business forward.

Differentiate your brand story

The enlightened tech buyer may be better informed than ever, but buying complex solutions, with the pressure to deliver positive results remains a constant challenge. With a wealth of data on any solution, an ever-expanding buying committee and an array of options, buyers  are overwhelmed and often more paralyzed than empowered.

How do you cut through the noise? Tell a story that is both memorable and authentic. New influencers and decision-makers on the technology buying committee may not know your solution or your brand but by prioritizing branding, you can tell a story that sticks.

Research shows that your website is the top resource used by potential buyers when researching potential business technology solutions so prioritize web branding first and foremost.

Leverage the power of your community

The scope of people involved in technology business solutions has increased significantly in recent years and these stakeholders come from a wide roster of roles, functions, and geographies.

Where previously 3/4 of enterprise employees were part of technology decision making, today the total universe of end-users and decision-makers who impact business technology investments encompasses roughly 86 per cent of employees.

Over 80 per cent of tech buyers look outside the buying committee for trusted insights on a purchase, whether through blogs, on forums, via surveys and more. These unbiased insights and reviews provide the details needed for buyers to discern how your solutions solve their business challenges.

Invest in customer experience

To ensure the technology buyer’s experience is seamless from beginning through end, marketers need to play a more active role in the implementation and adoption process of new technology.

Nearly half (51 per cent) of firms engage with customer service reps at their technology vendor on a monthly basis and nearly a quarter (24 per cent) never engage. Offering a seamless customer experience is required of marketers that want to boost customer retention numbers.

Soliciting feedback is another way to ensure the ever-changing needs of the enlightened buyer are being properly addressed. Marketers should utilize the resources at their disposal and gather first-hand insights to help renew, upsell, or cross-sell these buyers.

In order to keep pace with evolving technology buying processes and better serve the enlightened buyer, marketers need to break through the competitive vendor landscape, tap into their community and invest in the customer experience.


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Diana Luu
Diana Luuhttp://linkedin.com
Diana Luu is Head of our Marketing Solutions business in Canada. Her team's goal is to build relationships between brands and the world’s professionals to make them both more successful.