A blend of first and third-party content materials is required to seal a deal for B2B customers.
With the widespread adoption of mobile communication and 5G, B2B buyers look for every detail available prior to deciding on a vendor. The findings of a recent market survey from the market research firm FocusVision, show some exciting insights on B2B buyers. It shows an average trip of a B2B buyer involves the consumption of 13 content pieces! The company surveyed marketing directors and executives of different companies with 500 plus employees and revenue of $ 50M annually that had procured a martech solution over recent years.
The principal finding of the FocusVision study – consumption of about 13 content pieces- can be broken down into two parts. On average, it is eight vendor-created content pieces and five from the third parties. Clearly, people prefer a blend of first and third-party content. This content material is an array of different approaches, including videos, blog posts, interactive, white papers, reports, testimonials, and more. Through the B2B buyer’s journey, the content materials are reviewed at four different stages firstly, by understanding the problem, then looking for vendors, followed by short-listing and the final decision.
The study also shows that the B2B buying process takes about two-six weeks on average and involves about four internal decision-makers. The source of content varies from vendor’s website to general search, and as per the survey respondents, the numbers are:
- Directly via vendor website – 70%,
- Internet search – 67%,
- Social media – 53%,
- Received via email – 41%, and
- Word of mouth – 33%
Peer reviews also play a crucial part in the buyers’ journey. As per the report, the top and bottom of the funnel included peer review consultation. The most impactful content that aided purchase decision-making is
- Product specifications and functionality – 67%,
- Product comparisons – 65%,
- Product success stories – 60%,
- Content to specifically show value to internal stakeholders -54%,
- Product tutorials – 49%, and
- Guidance on the problem – 48%
Another study titled “2018 Content Preferences Survey Report” by Demand Gen two years ago, also found that nearly 49% of B2B buyers hinge on different content and research before making their buying decisions.
In 2020, it is no secret that B2B customer demands are continually evolving, and people are leveraging the humongous data available on the net and other tech touchpoints, before making buying decisions. Hence, the marketplace is witnessing a significant shift in the B2B marketing ideologies – including engaging content, personalization, quick value, and so on.
And, it is clear that content is still the king and highly influential to the millennial B2B buyers.