Understanding the mindset of industrial buyers is important if you market to engineers and technical professionals. There are plenty of research reports published on buyer personas and the buying habits of consumers, but they focus mainly on B2C marketing. You can find data on general B2B marketing, but it is somewhat limited when it comes to industrial marketing.
There are four annual surveys/reports that are done specifically about industrial buyers and manufacturing or engineering marketing. I read them regularly and I’m honored to be quoted in some of them.
It shouldn’t surprise you that the majority of industrial buyers prefer digital or online sources and tools for gathering information when making their buying decisions. That was clear from the findings from all the reports that I am about to cite here. It is okay if you are somewhat skeptical about the findings considering the sources of the data, but it shouldn’t take anything away from you gaining a better understanding of the behavior and habits of industrial buyers.
The first chart is from the 2019 Industrial Buying Habits report published by TheomasNet.
Engineers primarily used digital channels for their information gathering. The next chart is from How Engineers Find Information 2019, produced by engineering.com. Digital publications were the most commonly accessed form of engineering information, followed by online training and then (good news for marketers) vendor websites.
Despite all the evidence pointing towards industrial buyers using digital channels, I’m often asked by manufacturers and engineering companies if it is worth investing in an industrial website redesign or should they put that money towards hiring more salespeople.
I don’t believe salespeople are obsolete, and they are definitely needed, but their roles have changed in the industrial buying process. This change is driven by buyers who are in self-select and self-serve mode. They don’t need and/or want to talk to salespeople to get information.
The money spent on converting an informational site that is used as a digital “leave behind” into a serious sales tool, will continue to pay rich dividends over a long period of time. Besides, you couldn’t hire a productive professional salesperson for the cost of a site redesign.
Still need convincing? Look at these findings from the 2019 Smart Marketing for Engineers® published jointly by IEEE GlobalSpec and TREW Marketing.
One more piece of evidence from the ThomasNet report.
It is one thing to publish content on industrial websites, but it matters who produces that content as seen in the next chart from the same report. What is amazing is that these findings have remained consistent over the past 3 or 4 years.
If you’ve been doing manufacturing content marketing, you know that just publishing content doesn’t move the needle. According to the 2019 Manufacturing Content Marketing Trends—North America report published by Content Marketing Institute/MarketingProfs Creating, “68% of manufacturing marketers are challenged by ‘Creating content that appeals to multi-level roles within the target audience(s).’”
While product datasheets and specifications are very important in the industrial buying decisions, those alone cannot give you the edge over your competition when there is parity in Value Propositions.
The engineering.com report that I cited earlier, found that “36% of engineers would request an RFP based on thought leadership.”
Okay, let’s move on to the actual conversion when engineers and buyers fill out online forms. I’ve seen very detailed online forms that are typically RFQs. The fact is, the more fields you have, the higher the resistance to submiting the form.
Sometimes people will provide bad data (read as lies) when filling out online forms. I remember a while back, Vince Giorgi (@vgiorgi) had published a post, “How Much Do We Lie On Landing Pages?” where he raised some interesting questions about the quality of data collected from online forms in landing pages.
“The four fields engineers are most likely to complete on a web form are work email address, company, first name and last name.”
You may not be meeting the buyers’ expectations if you let your submitted forms sit somewhere for a while before someone from your company responds. Speed matters when it comes to responding to online inquires. Automated, generic responses won’t cut it either. Buyers expect answers to their specific questions.
These research findings should give you a deeper understanding of industrial buyers and their preferences which will help you market to them effectively.
Assessment and a documented marketing strategy with a plan of action for implementation.
Let’s start with a free 30-minute consultation to determine if this will be a good fit for both of us. It will be a friendly chat to get to know each other better, not a high-pressure sales pitch.