LinkedIn has released its latest survey on B2B tech buying. It analyzes key trends and notes for tech marketers to maximize outreach and performance.
More than 5,800 respondents from across North and Latin America, Europe, the Middle East, Africa, and Asia Pacific joined the annual survey.
In the APAC region, 1,911 respondents took part in the study. This region is where this year’s report focused on.
While it focused on APAC, and tech buying, we can still gain insights on branding, decision-making and the effects of the pandemic.
Woes of the pandemic
The study looks at how the pandemic transformed tech buying. About 47% of businesses decided to cut or stop tech spending for now.
LinkedIn’s data shows the consideration cycle of tech buyers. And it is up to two years in most cases.
The assessment time is different for each business type. Your marketing process depends on this one as well.
The data emphasizes how important branding is. Social platforms establish that connection. And it will build reputation not only in direct response, but also elsewhere to your campaigns.
“With technology being bought, implemented, and sold in a time of change, marketers must ensure their brand and solutions remain top of mind across the entire buying committee,” says LinkedIn.
Thinking beyond conversion
So, think beyond how you can convert your stats only. Push on your broader brand and marketing efforts. Find out how it can build deeper connections with potential buyers.
“With less in-office meetings and discussions happening organically, marketers must spark the virtual water cooler by giving their user base not only something good to talk about, but providing fun and appealing ways to promote community and conversation. Companies that understand the value of social proof have already incorporated this approach into their marketing plans, and are adept at elevating their users and turning them into heroes for their brand through digital channels,” adds LinkedIn.
The study checks the sources tech buyers consider to inform their decisions.
Professional peer reviews and user experience recommendations has increased awareness and reassured them before deciding to buy.
Paid ads helped improve awareness. But they are not ideal to build trust. It has to be a good balance of all elements to secure more business.
The report underlines specific elements that buyers weigh before purchasing.
Price is the most vital element. But support, reputation, and peer reviews have a big part to build conversion.
Check the full report here.
