Kyocera Newsletter
Message of the Week 29 July - 02 August 2024
Understanding the minds of tech buyers
A recently published study on the 2024 Role & Influence of the Technology Decision-Maker makes great reading for those who want to get into the minds of tech buyers.
The findings tell us that as technology advances, buyers are leaning harder on vendors for help throughout the purchase process and senior executives are adapting and taking a greater interest in the buying process.
The survey also found that the size of buying committees is expanding, reflecting a more collective effort toward technological advancement and that IT decision- makers (ITDMs) are more open to considering new suppliers that offer innovative technology. They are more willing than ever to factor vendor-provided content into their decisions.
Here are some of the report’s top findings:
1. 65% of IT decision makers find that the technology purchasing process has become more complex, and 94% say they need vendor assistance, particularly when evaluating the technical requirements of products. By providing potential buyers with detailed, easy-to-understand information early in the sales process, you can reduce the complexity by providing comprehensive support and information resources.
2. Younger generations turn to online content to research products and services before buying. Gen Z is less likely to turn to traditional sources of information, so it’s a good idea to diversify marketing efforts by emphasising social media and video channels. Providing more content is a good idea when appealing to any generation, the survey shows that the average buyer consults seven pieces of content before making a decision – this could be anything from YouTube videos to white papers and reports.
3. 87% of IT decision makers expect their purchasing budgets will increase or stay the same this year. With stable budgets, buyers will be looking for best-available value, so highlight innovative and feature-rich products to attract buyers who are interested in investing in digital transformation.
4. 48% of the surveyed respondents report a willingness to consider new vendors, particularly for innovative products. Focus on innovation and demonstrate clear benefits over existing solutions to attract new customers.
5. CEOs, CIOs, and other senior executives are more involved in tech purchases. Tailor communication and content to address the concerns and priorities of senior executives, emphasising strategic benefits.
The research makes it clear that by ensuring relevant and timely content, diversifying marketing efforts to include digital and social media, and addressing the specific and different regional preferences and needs, we can meet the evolving needs of tech buyers, foster stronger relationships and drive sales.