Gardner’s Industry Buying Influence Study 2022: Tactical Considerations for Marketers
Drafting marketing strategy and tactics, based on stated buyer behavior, helps optimize opportunities for success.
By Mark Semmelmayer, CBC
Chief Idea Officer
Pen & Inc. Marketing Communications
As said in the first “chapter” of this blog, since 2015, it’s been my pleasure to review Gardner Business Media’s recent study on influences in the B2B buying sphere. The intention has always been to provide B2B marketers with a digest of Gardner’s insights. This review covers their 2022 Industrial Buying Influence study. You can download the entire report here: https://www.gardnerweb.com/manufacturing-insights/ibi
Some insights into what you’ll read here:
First, it’s my take, as a 40+ year B2B vet, on the tactical implications of what the study tells us.
Second, it’s really written for up-and-coming B2B marketers. That said, seasoned pros should read the whole report and find all relevant information . . . but might, perhaps, give consideration to what’s said next.
Third, it might be wise to do a deeper dive into the specific nature of some of the survey results. Let me explain.
Market research has been a big weapon in my marketing arsenal. As a rule, that research has helped map paths to successful efforts. But, as anyone who deploys market research will tell you, there are three key considerations to unearthing the “truth” with research:
- The questions you ask
- The makeup of survey respondent population
- The interpretation of results
Some of what the report revealed has me wondering, though. The high preference for information from print advertising, as opposed to a much smaller preference for social media as an information source, seems a bit counter-intuitive.
I’m not telling you Gardner got it wrong. On the contrary, the information about buyer demographics, decision keys and buying committee makeup are valuable, seeming to jive well with trends identified in past reports.
Just the same, 905 respondents, while statistically valid, is a somewhat small sample when considering a broader universe of B2B buyers. Were they the same as Gardner surveyed over the past number of years? If yes, does that skew response? Does the information reflect today’s B2B environment, clearly changing in a post COVID world? Frankly, I don’t have a definitive answer.
Let’s just say, from secondary research, I have some questions in this regard. All I can offer is insight yielded by that secondary research, about the Gardner report v. other research reports. I would recommend you evaluate and consider that regarding your marketing planning. A couple of examples:
Social Media
Thesis:
Gardner’s puts social media as a purchase influence at <10%
Antithesis:
According to Gartner Research (a separate firm), today, 40% of B2B buyers use social media to help inform their purchasing decisions
Synthesis:
Social media is growing in B2B influence. While not the answer, it’s an important factor . . . because social media is a useful tool for developing 1-on-1 relationships in the digital world. Relationships facilitate sales. Get a social strategy defined and social tactics deployed . . . now. Tomorrow might be a day late.
Print Media
Thesis:
According to Gardner, 74% of respondents indicated print advertising was their first “go-to” for product information
Antithesis:
According to foleon.com, podcasts and webinars are rising in utilization as excellent B2B content formats for delivering information and demonstrating expertise. They also capture important customer data during the signup process or when encouraging viewers/listeners to ask questions
Synthesis:
Buyers used to seeing a copy of WidgetWorld in their inbox or the break room, will continue to rely on print as an info resource. Up and coming buyers, not so much. Time to embrace an Integrated Marketing Communications strategy (IMC), to assure that messages and information are there . . . wherever, however and whenever the buyer wants it
Conclusion
We can’t tell you what to do, only about things you should consider in your B2B marketing planning. You know your customers and their pain points. The first suggestion is, do your own media and buying influence research with your buyers. Then draw conclusions about what would impact their specific buying behavior.
Make no mistake, there are more questions about buyer behavior and media efficacy than there are pat answers. Your job is to figure out how to follow your customer down the street, see what they eat and bait the field for them. Information like Gardner’s Industrial Buying Influence study is extremely valuable in framing the quest. Implementation is up to you.
If you just keep doing what you’re doing, old style, you’ll keep getting what you got. At your peril.
For some closing thoughts, let’s reiterate specific details from the Gardner study that can be taken to the bank. Today.
Digital Discernment
As industrial buyers continue to use digital channels to influence their purchase processes, they are becoming considerably more selective in the sources they access. They prioritize industry sources, vendor websites, search returns and social media from sources they know and trust.
Solutions Networking
Manufacturing buyers are solutions networkers. They seek the best solutions for their specific needs and look first to industry sources in seeking answers to their questions.
- B2B buyers are problem solvers and information seekers. Understanding how, where, and why decision makers and influencers access information is the first step in planning successful marketing strategies.
- 80% of buyers indicate they access information from three or more sources.
- The utilization and credibility of industry-specific events, like trade shows, is rising. Over 50% of respondents indicated likelihood to participate in one or more events. That same number found them to be a strong networking tool and a credible source for product information.
Finally, some things don’t change. No matter where you turn for information on B2B buyer behavior, you get the same response to the question “What do you look for in a B2B product when you’re intent on buying?”
The universal answers? Brand. Performance. Service.
No matter where your marketing process takes you, keep that trio of attributes foremost in your mind, plans and messages.
Need more information?
Mark Semmelmayer, CBC
Chief Idea Officer
Pen & Inc. Marketing Communications
Saint Simons Island, GA
770-354-4737
LinkedIn
About the Author
Mark Semmelmayer, CBC
Mark is a past international chairman of the Business Marketing Association (BMA), the 2015 recipient of BMA’s prestigious G.D. Crain Award and an Inductee into the Business Marketing Hall of Fame. A 40-year B2B marketing pro, including 32 years with Kimberly-Clark, he’s the founder and Chief Idea Officer of Pen & Inc. Marketing Communications, a consultancy in Saint Simons Island, GA.
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