© 2017 Gardner Business Media, Inc•All Rights Reserved€¦ · • 60% respondents were Gardner Business Media magazine subscribers / 40% non-print magazine subscribers (events,

©2017GardnerBusinessMedia,Inc • AllRightsReserved


Overview

MethodologyHISTORICAL:• Surveyfoundedin2010;6th edition

• Startedasresearchonmediausageinmanufacturing;evolvedtoincludebuyingbehavior/vendorselection.

2016-2017:• 1,637responsescollectedbetween

10/24/16– 12/12/16

• Responseswerecollectedexclusivelyonline

• 60%respondentswereGardnerBusinessMediamagazinesubscribers/40%non-printmagazinesubscribers(events,webinars,web,social,e-newsletter,etc)

NEWTHISYEARAseparatesurveywasdeliveredtoequipmentsuppliersinordertoinvestigatetherelationshipbetweenenduserbuyingbehavior/mediausageandsuppliermarketingintentionsandperceptions.

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ObjectivesandTakeaways

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Objectives

Examinehowtoday’sindustrialbuyerisusingmedia?• Whatcontentchannelsaremostuseful?• Whatadvertisingchannelsaremostuseful?

Explorewhatmotivatesandimpactstheindustrialbuyersvendorselectionandpurchasingdecision?

• Whatdoestoday’sbuyingteamlooklike?• Whatmediaaretheyusing?• Whatconsiderationsmostinfluencedecisionmaking?

Whatdothefollowingtopicsmeantotoday’sindustrialmarketer?

• Brand• BuyingConsiderations• NextGeneration• DigitalMedia• TheIndustrialBuyingCycle

Takeaways

UnderstandingtheRelationshipBetweenPushMediaandPullMedia

PUSHMEDIAIntroducesconsumerstoinformationandproductstheydonotknowaboutordonotknowtheyneed.

PULLMEDIAProvidesconsumerswithinformationtheyknowtheyneed,butwerenotsurewheretofindit.

Amanufacturingprofessionalismostlikelytodiscoversomethingnewinsidethepagesofamagazineortheexhibithallofatradeshow(push)andthenconductdeeperresearchonaspecificsupplierorindustrywebsite(pull).

EXAMPLE


TheIndustrialEquipmentBuyer– ThePeople

Age• 56%over50• 44%under50

JobTitle• 40%Management• 26%Engineer• 12%Owner

Observations

Surveyaudiencereflectstheprimarycapitalequipmentinfluencersandapprovers.

Audienceisrepresentedbybalancedmixofinfluencersover/under50andofvariedjobfunction.

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TheIndustrialEquipmentBuyer– TheCompanies

ObservationsSurveyaudiencerepresentsabalancedsectionoffacilitysizeandindustry.

Largestrespondinggroupsincludethedifficulttoreach,butlucrativesmaller,privately-heldmanufacturers.And,thelargerfacilitythattypicallyrepresentsalarger,morediverse,mid-levelbuyingteam.

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ObservationsCONTEXT:Theindustrialbuyerassignsuniquevaluetoadvertisingmessagesthatappearinindustrycontextandaresurroundedbycontent.Thisisevidentbythestrongperformanceoftradeshowsandbyindustrytrademagazinesandwebsites.

DISCOVERY:Industrialbuyersappeartoequateadvertisingusefulnesswithlearninganddiscovery.Topusefulnessreturnersarepushmediathatdeliverorpromotedirectlytothebuyerandprovidetheopportunitytolearnordiscoversomethingnew.

TakeawayIndustrialmarketersshouldmaximizebrandbuildinganddemandgenerationthroughleadingadvertisingvehicles.Thesevehiclesincreasevisibility,brandawarenessandincreasethevalueofpullinvestment.

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PleaserateeachtypeonhowusefulyougenerallyfindtheAdvertising init


ObservationsWhensearchingforspecificinformation,industrialbuyersaremostlikelytoaccesspullmedialikesupplierwebsitesandsearch.

Thistendencyunderscorestheimportanceofbrandrecognitionasresearchersaremuchmorelikelytoselectsearchreturnsfromsourcestheyalreadyknowandbecausethenumberoneactiontakenfromadvertisingisvisitinganindustrywebsite.

TakeawayStrategicleveragingofpushandpullmediaisbecomingincreasinglymoreimportantasindustrialbuyersareconfrontedbymoreandmoreoptions.

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PleaserateeachtypeonhowusefulyougenerallyfindtheContent init.


TheRelationshipBetweenAdvertising&Content

ObservationsPrintmagazinesrepresentthesmallestusefulnessgapasbuyersfindsimilaruseinthecontentandadvertising.

Mosttellingisthedifferencebetweenbuyersperceptionoftheusefulnessofvideoandsearchasacontentresourcecomparedtoanadvertisingvehicle.

Industryresources– like,magazines– print,industryconferences,industrywebsites,openhousesandtradeshows – representthebestbalanceofcontentandadvertisingusefulness.

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TheIndustrialBuyingTeam– SizeandFunction

ObservationsNearly70%ofpurchasingdecisionsareinfluencedbyteamsof3ormore.Managers,engineersandpurchasing/productionarethemostlikelydepartmentsrepresented.

TakeawayThesizeanddiversityofbuyingteamsnecessitateanintegratedmarketingstrategythatreacheskeyinfluencersanddecisionsmakersviacontentandadvertisingvehiclesthroughouttheindustrialbuycycle.Further,yourmessagingshouldappealdirectlytothebuyingconsiderationsofengineersandmanagers!

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ObservationsBuyerswantbenefits!Whenevaluatingvendorsandconsideringpurchases,buyersplaceapremiumonservice.

Whiletheobvioustakeawayistoincorporateservice-orientedmessaging,themoregeneralpointistofocusonthebenefitsofthebuyer.Theyarelookingforvalueandtheyseevalueinserviceandtechnology,first.Ofcoursepricematters.But,itmatterslesstodecisionmakersthanthevalueandimpactapurchasewillhaveontheirbusiness.

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Ratehowimportantthefollowingistoyourcompany’sbuyingdecision.


ObservationsWhileindustrialmarketersarerightlyemphasizingtechnology,brandandsolutions,thereisacleardisconnectbetweenthepremiumabuyerplacesonservicecomparedtothesuppliersemphasisofserviceinsalesandmarketingmessaging.

TakeawayThereisagreatopportunitytoevolvemessagingbyincorporatingserviceanduserbenefitsintobrandanddemandbasedmarketing.Especiallyinmarketingthatappealstomanagerandengineertitles.

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Pleaseratethefollowingonhowimportantitistoemphasizeinyourcompany’sadvertising.

From2017IndustrialSuppliersMarketingSurvey

Pushadvertisingandbrandrecognitiondrivedemandgeneration.Threeofthetop5advertisingdriversarepushrelated.Theothertwo(searchandsuppliersites)arebranddependent.

ThePowerofPush+Pull

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TAKEAWAY#1– YourBrandisYourBusiness

Brandistheprerequisiteforindustrialmarketing.

93%ofindustrialbuyersindicatetheyaremostlikelytoselectsearchresultsfromcompaniestheyrecognize!

Yourbrandmessagingshouldspeaktoyouraudienceandshouldbebuiltonyourcommitmenttotechnology,serviceandsolutions

SUMMARY:Buildyourbrandthroughpush;buildyourbusinessthroughpull.

Themostpowerfulwaystobuildbrandarethroughprintadvertisingandeventdisplay

Asyoubuildyourbrand,yourwebsiteandcontentmarketingchannelsbecomeessential

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Buyerswantbenefits.Yourbrandisbuiltonbenefits.Focusonthem.

• Serviceisadifferentiator.It’stheprimarybuyingconsideration.• Servicemattersmosttoownersandmanagers• Technologyandsolutionsarealsoprimaryconsiderations.• Technologymattersmosttoengineers

SERVICE,SOLUTIONS,TECHNOLOGY

SUMMARY:Deliveryourmessagewhenandwhereyourcustomersandprospectsarelooking.

TAKEAWAY#2– BuyersWantBenefits

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TAKEAWAY#3– BuyersWantBenefits

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Yourbrandisbuiltonbenefits;focusonthem!

Service,solutionsandtechnologydrivepurchasingdecisions.

Serviceisadifferentiator.It’sthe primarybuyingconsideration.

Servicemattersmosttoowners+executives

Technologyandsolutionsarealsoprimaryconsiderations– especiallywhenmarketingtoengineers!

TheNextGenerationisComing,butthey’renotBuying.Yet!

SUMMARY:Seniorlevelprofessionalsstilldrivepurchasingdecisions.But,industrialmarketersshouldbelayingafoundationfornextgenerationdecision-makers.Muchliketheirpredecessorsandmentors,thenextgenerationisconditionedbypushmediaandcapturedbypullmedia. Specificareastoevolveareinvideoandwebsitedevelopment.

TAKEAWAY4:PreparefortheNextGenerationBuyer.

Nearly65%ofpurchasingapprovalsarefromprofessionalsover40withthebiggestpercentage(37%)residingwithtitlesover50yearsold.

Nextgenerationreliesmoreheavilyondigitalforresearch,butdoesn’twanttobeadvertisedtointheprocess.Especiallyinsearchandinvideo.

•Significantgapbetweenvideoandsearchadvertisingvs.contentusefulness•Investinsolutionsrich,searchandsocialfriendly,toolslikevideoandwebsitecontent

Nextgenerationtrustsvalidatedsources–events,industryoutlets,etc.

•Gravitatesmoretowardsindustrywebsites,industryconferences,industryshows

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TAKEAWAY5:WhatToDowithDigital

ContentisNumber1Digitaladoptioncontinuestoincrease,butitscontent-basedchannelsthataremovingthedigitalneedle.

ContentisalsoNumber2Investinyourwebsite,investinvideo,investincontent+investinsolutionsthatpushtoyourwebsite,featureyourvideo,amplifyyourcontent.

EngageMixinsocial,butasacomplement tonotasareplacementfor

AgeNextgenerationmaybemobileandtheymaybedigital,butthey’renotsocial(atleastnotforbusiness)

Observations:Socialranksinthebottomincontentandadvertisingusefulness– regardlessofage!

Buyersdonotexpecttocontactedafterengaginginnon-registrationdigitaltransaction.

YouTubeandLinkedIncontinuetobethestrongestsocialperformers.

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Takeaway6:WhatToDowithDigital

Newmarketingandanalyticstoolsempowertheindustrialmarketertomarketandremarkettouserswhopresumeanonymity.Thischartlooksatbuyersexpectationsregardingactivitiestheyexpecttobecontactedafter.

Takeaway

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SUMMARY

Thesizeandcompositionofbuyingteamsisbecomingmorevaried. Timescontinuetochange.Here’swaysyoucanevolvewiththem:• Buildyourbrand• Developcontent• Focusonsolutions

Don’tjustcountwhatyoucancount;countonwhatcountstoyourcustomer!Buyersdonotwanttobelookedasasetofdataorasalead.Theywanttobeeducatedandserviced.

HOW?Anintegratedmarketingprogramthatreliesonbuildingawarenessanddemandthroughthoughtfully-messagedpushcomponentsthatdriveprospectstosolutions-based,benefit-drivenpulldestinations.

Asaresult,it’sbecomemoreimportanttoreachinfluencersthroughouttheindustrialbuyingcycle.

Theavailabilityofdataisincreasing.

Thenumberofoutletsavailabletoreachbuyersisbecomingmorevast.

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Documents

© 2017 Gardner Business Media, Inc•All Rights Reserved€¦ · • 60% respondents were Gardner Business Media magazine subscribers / 40% non-print magazine subscribers (events,