There are now 21 Influencers in the Technology Buying Cycle

Red JavelinSay what? Is that a typo?

That was my first reaction when I read the latest report titled “The Drive to Transform Powers a More Inclusive Buying Dynamic” from industry research firm IDG.  This year’s report revealed that there are on average 21 individuals involved in a new enterprise technology purchase! Gulp.

What does this mean for tech marketing programs?

One of the outcomes of digital transformation is that a new more-inclusive tech buying process has developed that now includes representatives from line of business (LOB) – 11 people from IT and 10 people from LOB.

Here are some highlights from the report.

New Vendors1

Red Javelin Takeaway: The door is open to new vendors. Existing vendors only have a slight advantage. Post-sales marketing is key to staying top-of-mind for new buying decisions.

 

 

Buying Committee

Red Javelin Takeaway: More influencers now have a voice at the table. You need content that addresses the concerns of both IT and LOB.

 

 

Length of sale

 

Red Javelin Takeaway: Companies that have made a significant shift to digital transformation make buying decisions one month sooner than the average. Thought leadership in digital transformation is now table stakes.

 

 

SOurces of info

 

Red Javelin Takeaway: Public relations and content marketing remain the most important tactics for information sources.

 

This report is an eye opener. To read the full report, click here.

Technology Marketing

 

 

Tags: Insight & Analytics, Emerging Technology, Tech Marketing