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Buyersphere Report 2015: Summary

Buyersphere Report 2015: Summary
In a world where digital technology has given us access to more data than at any point in history, it can be easy for B2B marketers to get lost amongst a never-ending forests of stats and statistics. Add to this the ever expanding lists of ‘how to guides’ and new ‘must have’ marketing channels and you have a recipe for marketing paralysis. If you feel like this, then you might be interested to learn about Base One’s annual Buyersphere Report, a regular survey of B2B buyers within a range of different sized organisations.

Since its inception in 2010, the Buyersphere Report presents readers with results from their survey into business purchases, identifying the behaviour of the most important individual in a business transaction – the buyer. Here’s what we took from the report.

Who takes part?

This year saw 211 businesses of all sizes take part in the survey, covering a wide range of business sectors, varying widely from manufacturing or construction, to retail and hospitality. The majority of respondents were from a management role, while over 50% had been in their current role for more than 5 years and were aged 40 or over.

The purchase

The top purchases were for IT/telecom equipment or systems representing 31% of all purchases, closely followed by transport at 29%, both clearly being required for the business to operate. A representative average of the business purchase was valued at £69k, but as to be expected, the size of the purchase increased with employee numbers – larger companies generally made the larger purchases.

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Decision making

Who exactly was involved in the buying process? Do CEOs call the shots? Well, possibly to the surprise of many, procurement departments were only involved in 12% of all purchases surveyed. But to no surprise, CEOs took the top spot at 38%. The survey also found that the business leader was typically present during the start and end of the process, joined also in the final stages by finance departments, who are less involved through the research process. It highlights the importance of ensuring your value proposition is appealing to all members of the decision making unit.

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Information used in the process

As to be expected, pricing information and technical specs were the most sought-after content available to the buyers. It’s interesting to note that customer testimonials were not as commonly used as company experts or external reports. Does this suggest that the importance of traditional testimonials is diminishing?

Social media

Social media is still a relatively new concept to some people and therefore seems to have very little involvement in the buying process, with half of the businesses surveyed remaining uninfluenced by the channel. If the business chose to use social media as a source of information, they were most likely to use industry-specific forums (26%), over platforms such as LinkedIn (18%) and Twitter (4%). A potential reason for this is because social media lacks the relevant information that is desired by the buyer. Something marketers need to address.

Successful Suppliers

All businesses will have an idea in mind of the supplier that would best suit them and unless they have experience with said supplier, those that offer the best price along with the best product appear to be favoured. Also discovered, was that buyers are more comfortable with suppliers who communicate well – demonstrated by a preference for those that use email extensively, compared to those that didn’t. Does this signal a more reliable supplier?

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The report is very extensive and we are unable to go through it in detail but it makes a very interesting read, particularly for marketers targeting the B2B sector, so if you’d like to see the report in full then head to Base One’s website.

 

 

 

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Have you applied for your Growth Voucher worth up to £2000?

The Growth Voucher scheme was set up by the government last year, which gives businesses the opportunity to receive up to £2000 match funding with the aim of helping SMEs get strategic business advice and support to help them grow.
However, following an extension at the start of this year, the scheme is now drawing to a close, with an application deadline date of 31st March.

As an Accredited Growth Voucher Advisor, we have experienced the benefits the scheme has to offer, so why not see how it could help your business too?

If you would like to find out if your business is eligible to receive up to £2,000 match funding to put towards strategic advice, head to the Growth Vouchers page to complete your application.

Successful applicants will have until 30th June to find an advisor and process the claim.

If you have any questions, don’t hesitate to contact us on 01962 600147 or email connie@tlc-business.co.uk.

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#MarketingTitbits – content writing, Halifax, learning to code

content-heartbeats-code-smaller1. 17 fantastically useful tools for content writers and bloggers
For content writers and bloggers, writing can often be a stressful and difficult set of skills to master. But with the help of Econsultancy, we can show you some of the best tools to help you along the way.

If you’re someone who struggles with content generation, not to worry, you can check out Portent’sor HubSpot’s topic generators. With these tools you can avoid the hassle of wracking your brain for one or two ideas – you’ll get hundreds! But if you’re looking to improve the quality of your writing, you can use Grammarly, which highlights any fault in grammar, punctuation and spelling, while Unsuck-itwill help you to breakdown business jargon that can often confuse readers.

There are many more useful tools available, so click here to see how your content can get a refresh.

2. Halifax is replacing passwords with your heartbeat

With technology growing and developing at a rapid rate, it’s no surprise that the security of bank accounts is now top of the agenda. Cybersecurity has always been important to the population and now Halifax is looking to develop wristbands that will identify your own unique heartbeat in order to access your account, replacing the humble password.

The trial follows a new service that was launched by the Royal Bank of Scotland in February, which uses fingerprint recognition as a log in method, while Google and Yahoo are developing their ideas for using facial or voice recognition as an alternative.

For a demonstration on the new tech, click here.

3. BBC is giving away 1 million Raspberry Pi computers so kids can learn to code

The BBC has recently revealed its intentions to highlight how learning to code should become a critical component of a child’s education in today’s digital age. Next year, they plan to give away 1 million microcomputers to year 7 pupils.

The Micro Bit is currently being developed and will be a small piece of wearable hardware that will aid in learning coding and programming. Due to the shortage in skills surrounding coding, it’s no surprise that organisations such as Microsoft, Google, Samsung and Code Club are all getting involved.

To find out more on the BBC’s latest initiative, click here.

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We’ve moved!

We are delighted to share with you our good news – we’ve moved!
We’ve loved our time in St Cross, but due to expansion, we have now located to larger offices just on the outskirts of Winchester, in the idyllic countryside location of Owslebury. The area boasts beautiful views and an array of wildlife and we are pleased to say that we have quickly relaxed into our new surroundings. Our neighbours, which include horses, have been most welcoming!

Our new address is as follows:

Unit A2
Belmore Hill Court
Belmore Lane
Owslebury
Winchester
Hampshire
SO21 1JW

If you have any questions in advance of your next visit to TLC Business, please give us a call on 01962 600147.

We look forward to seeing you soon!

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#MarketingTitbits – domains, data laws, Budget 2015

domains-data-budget-smaller1. Eight genuinely useful tools for domain name generation
When creating a website, the hardest part can often be thinking of and securing a name. One of the biggest problems today is that there are over 900 million registered website domains, but only 25% are actually in use. If you’re struggling to find a domain for your website, a list of the best name generator tools has been compiled by Econsultancy; here are just a few.

Name Mesh, Panabee and Domainr are sites that will allow you to search for a number of alternatives to your ideal domain name/s, which could include shortening or finding alternate TLDs (top level domains). Another problem is then replicating your chosen name across social networks, but with the help on NameChk, you can browse through 157 communities to find out which ones are available.

To see the other tools, you can click here.

2. What new data laws mean for marketers

The EU has been working on the General Data Protection Regulation (GDPR) for some time now. The net result of which, brands and businesses will be required to be completely transparent with consumers about what they can expect their data to be used for. The Guardian is one brand that has followed this, through their creation of a £5000 video titled ‘Why your data matters to us’.

With the GDPR due to be released in 2017, the legislation that will be introduced could include the ‘right to be forgotten’, which allows for any out-of-date or incomplete information to be removed from search engine results. The GDPR could also offer brands the option to process pseudonymous data, where personal identifiers are replaced to protect consumer rights.

For more on the GDPR, click here.

3. What the Budget means for your business

When the Budget was announced last week, George Osborne promised that the annual tax return would be scrapped, with digital accounts as replacements. But, what hasn’t been made clear is exactly how this will happen.

One potentially beneficial possibility is that by 2020, small businesses may be able to link their accounting software to government systems, which will share their financial information. As efficient as this might sound, businesses might not respond so positively to the initiative. 100% tax relief on the cost of new equipment is due to fall from £500,000 to £25,000, although George Osborne has suggested this will be reviewed.

These are just a few of the measures that might affect you and your business. You can find out more on what the Budget announcement means for your business by clicking here.

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#MarketingTitbits – social media fails, YouTube, Twitter’s year

fails-youtube-twitter-smaller1. The top 20 fail-iest social media fails of 2014
As the impact of New Year’s exploits begin to wear off, it’s an ideal time to look back on 2014 and reminisce about some of the greatest brand fails on social media last year! Thanks to Econsultancy, you can scroll through their list of awkwardness which will have you shaking your head at some businesses thoughtlessness.

Proving that not all brands are as smart as they seem, is LG, who ‘cleverly’ mock the iPhone, whilst using the very device they are critiquing during their mocking tweet. Others putting businesses to shame include US airline, Delta, who may need to polish up on their geography knowledge, and logistics giant, DHL, who did a lot more bad than good with their ‘like to send Jules your best wishes’ post.

Click here to check out some of the others, including fails from celebrities like Rita Ora and Robin Thicke.

2. YouTube crams every big Internet moment of the year into one insane mashup

Since 2010, YouTube have released their yearly ‘Rewind’, reminding us of the biggest moments from the year gone by. This year is no different as last month they debuted ‘Turn Down for 2014’. One thing that the video reinforces is that we spent the majority of the year very, very wet.

The video re-enacts some big moments from 2014, including, the Ice Bucket Challenge, viral videos like ‘First Kiss’ and the ‘Devil Baby Prank’, which we spoke about a few weeks ago. You’ll also find references to other things, such as popular songs that have topped the charts. Can you spot them all?

Grab some popcorn, press pause on 2015 for 5 minutes and rewind by clicking here.

3. Twitter’s year in review: World Cup, Ferguson and Ellen’s golden tweet

Twitter’s Year in Review microsite allows you to look back on 2014 through the eyes of Twitter. If it happened in 2014, then it happened on Twitter, which reinforces the ever growing influence of social media in modern day life.

Some of the biggest moments from the previous 12 months include a few of the world’s biggest entertainment awards ceremonies, with the likes of The Brits, The Grammys and The Golden Globes all making an appearance. Other events that played out over Twitter include the World Cup and Ferguson riots.

If you’d like to throwback to the biggest moments of 2014, then you can do so by clicking here.

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#MarketingTitbits – Twitter, Aldi, advertising fails

twitter-supermarkets-adverts-smaller1. Twitter officially lets you retweet with comments now
Over the years, Twitter has faced criticism from frustrated users who struggled to warm to the limited functionality of the platform, but their latest change could help allay some of those frustrations.

Gone are the days where you had to cut and paste a URL before adding a comment; now it’s available at the click of a button. The “retweet with comment” feature allows users to embed tweets with their own messages, with photo and video retweets appearing as a small preview.

So far the new feature has gained mixed reviews, but what do you think? To find out more, click here.

2. Aldi replaces Waitrose to become the UK’s sixth biggest supermarket

It’s become clear that the rise of German discounters Aldi and Lidl shows no sign of slowing any time soon, as it’s revealed that in the 12 weeks to March 29, Aldi and Lidl’s sales rose 16.8% and 12.1%, respectively. Aldi is now the UK’s sixth biggest supermarket, holding 5.3% of the market share, overtaking Waitrose which stands at 5.1%.

Figures from Kantar Worldpanel show that the big four supermarkets faced a mixture of growth and decline in sales during this period, all the while remaining in the price war which aims to win back their lost shoppers. But as food prices continue to drop, what will the future landscape be for the UK’s supermarkets?

You can read more on Aldi’s success by clicking here.

3. 23 of the worst online advertising fails

When an online advertisement is placed well, it can be one of the most effective ways of targeting consumers. However, there are often some unfortunate moments where brands are just in the wrong place at the wrong time.

Brands such as Apple, UPS, Samsung, Uber and Nike discovered that there can be a number of unforeseen complications with online ad placement, leading to some unfortunate outcomes.

If you would like to see the list of fails, head to Business Insider.

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#MarketingTitbits – retail technology, reputable brands, royal celebrations

ecommerce-reputablebrands-royal-smaller1. Shoppers using average five connected devices to purchaseWhen purchasing goods both online and in-store, consumers are now on average using five ‘connected’ devices during the process, whether this be browsing, researching, comparing or buying. Devices range from PCs, laptops, tablets, smartphones, smart TVs and wearables according to DigitasLBi, which examined retailer trends around the world.

The research found that 27% of consumers will hope to find personalised offers online, while 70% believe they would engage with in-store connectivity like GPS or Wi-Fi tracking if the stores offered consumer benefits. But it’s not just devices that are growing in popularity – social networks such as Facebook, Twitter and Pinterest are also seeing increased growth in direct purchasing.

Could 2015 be the year that changes the retail experience fundamentally? To find out more, click here.

2. BMW beats Google and Walt Disney to become world’s most reputable brand

In a recent study carried out by Reputation Institute, BMW topped the list of the world’s most reputable brands, succeeding last year’s joint first place holders, Walt Disney and Google.

The brands were ranked in accordance to their reputations amongst consumers, based on criteria including innovation, governance and citizenship. The top ranking vehicle manufacturer believes its success is down to internet and social media tools, but also face-to-face interaction itself. Other brands joining BMW in the top 100 include Rolex, Apple, Volkswagen, Nestle and IKEA.

To take a look at the list in full, head to The Drum.

3. How brands wished Queen Elizabeth a happy 89th birthday ft Marmite, Beats, Lidl & Tesco

Last week, Queen Elizabeth celebrated her 89thbirthday, and brands across the world came out to celebrate as #QueenElizabeth trended on Twitter for the majority of the day.

Sharing their limited edition royal products on social media were Marmite and Pot Noodle, who created animations commemorating the occasion, while other brands, such as Tesco, Lidl and Surfdome showed their humorous sides.

Take a look at how others celebrated the special day by clicking here.

 

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#MarketingTitbits – email investment, Google search update, Facebook algorithms

email-google-facebook-smaller1. Why is email investment falling despite high returns?
Marketers tend to be fond of email marketing due to the high return on investment (ROI) that it yields, so why is spending in this channel decreasing?

According to a census of 1,000 marketers published by Econsultancy, email marketing is only second to SEO when it comes to delivering ROI, with 22% rating the benefits of email as excellent. But over recent years, the survey has found that other marketing channels, such as mobile, are of greater focus to marketers.

To find out more about the barriers to email marketing and how to overcome them, click here.

2. Google updates mobile search snippets

Last month, Google announced its plans to change the way URLs are presented in search results and started to use mobile-friendliness as a ranking tool to promote optimised experiences for users.

Currently only available in the US, URLs will be updated as a reflection of site names instead of domains, but available worldwide is the breadcrumbs update that structures data to help users navigate a site. Website owners are being advised to ensure that their site name and breadcrumbs are accurately displayed, and can do so by using schema.org.

For more on Google’s latest updates, click here.

3. Facebook’s algorithm update: what it means for marketers

With the big mobile algorithm updates from Google dominating conversation on the internet, it’s no surprise that the latest change Facebook has made has been overlooked by some.

A blog post from Facebook outlined how the platform will now prioritise content from your friends over brand pages, seemingly in an attempt to widen the use of paid social reaches. Facebook also wants to encourage brands to generate better content for users that they want to see and interact with. If content is liked, more of a brand’s posts will continue to be distributed higher in a particular user’s news feed.

The update is proving for marketers that engaging and relevant content is more important than ever. If you’d like to know more, click here.

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#MarketingTitbits – General Election, Googling for pizza, spotting fake reviews

election-pizza-reviews-smaller1. The election result: what it means for marketers
Over previous weeks, the general election result has dominated news headlines, as promises were made and the prospect of new legislation loomed. But, what does the new Tory government mean for marketers?

During the election campaign, the Conservative party stated that it was the best choice for marketers, delivering an environment where businesses can thrive, supporting continuous growth through their pledge to continue to remove the ‘red tape’ that surrounds the marketing industry. A Conservative spokesperson told Marketing Week that “marketing is one of Britain’s great creative and economic success stories”, promising to keep it that way as long as they are in government.

To find out more on how the new government could affect marketers, click here.

2. Googling for pizza? You can now order food directly from search results

It can be hard to keep up with Google’s continuously evolving features. From showing song lyrics in search results, to highlighting health-related information in queries, the search engine appears intent on becoming more than a mere signpost to a site.

Google has recently partnered with six food delivery services like Grubhub and Delivery.com, allowing users in the US to search for restaurants and instantly place a delivery. Further brands are set to be added in the future, with the feature possibly going global. Will it hit the UK?

To see how the latest addition works, click here.

3. True or false? How to spot a fake review

The internet has become home to reviews that are used by consumers and businesses alike. They help guide almost any purchase, whether this be for services, restaurants or where to travel.  However, some of these reviews can be fake and therefore misleading, so what sets the true from the false?

There are a number of indicators that you can look out for. These include signs like: the quantity, the more reviews the more realistic the representation; or how up-to-date the reviews are – recent feedback is much more trustworthy. It is important to know that any company that has a set of reviews can expect to have some critical comments, and this can actually reinforce the authenticity of their reviews because after all, no company is perfect – despite what Apple might think…;)

Take a look at some other tips to help spot the fake from the real by clicking here.

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