NEWS: B2B tech brands facing increasing challenges
Technology brands are facing increasing challenges when selling to businesses, the Text100 Influence Index: Paving the Path to Advocacy reveals.
The study showed that on average six people are involved in the purchasing decision-making process in businesses globally.
Despite 55 per cent of companies having the head of IT involved making the final decision, 42 per cent require CEO or MD sign off and 22 per cent require board of directors sign off.
However, before any decision has been made to buy, 34 per cent of decision makers use a search engine to get more information on a product or brand; 43 per cent look at information on the supplier’s website; 27 per cent read online endorsements, reviews or recommendations; and 28 per cent used email newsletters as an information source.
The research also revealed that at every stage of the purchasing process, from awareness through to taking action decision-makers care about cost more than any other factor.
Furthermore, only half (53 per cent) of decision makers worldwide would first turn to an existing supplier when faced with a business challenge.