New GlobalSpec Research on Industrial Buying Cycles

GlobalSpec just released a new white paper centered on a research study they conducted on Industrial Buying Cycles.  Among other things, the report covers the various stages and length of a typical buying cycle, the number of decision makers that get involved, the manner and frequency with which suppliers are exposed to buyers, the sources and types of information they use and the amount of content they review. It provides some good insight for B2B marketers as we continue to navigate the growing number of traditional and interactive communications tools available to us all.

Here is a brief excerpt from the white paper’s executive summary:

“GlobalSpec recently conducted an Industrial Buy Cycle Survey of engineering,
technical, manufacturing and industrial professionals who have influence
on their company’s processes for buying products and services. This white paper analyzes the responses and explains specific implications the buy cycle has for marketers. It demonstrates that buyers have significantly reduced their reliance on traditional information sources such as printed catalogs, trade shows, and trade magazines, in favor of search engines, supplier Web sites, online catalogs, and other online resources. Buyers also seek online access to content that helps educate them, improves their decision making capabilities, and increases their confidence level in their final purchase decision. Marketers must also note the importance of building their presence across multiple online channels to be found by buyers early in the buy cycle.”

                                                                                              — GlobalSpec

Click here to download a copy of the report.  It may take a minute to load, but it’s certainly worth taking a look.  Also, keep an eye out for a new white paper we are finishing up, titled: “Lead Nurturing and the Role it Plays in Sales Development.”  It will pick up on many of the themes of the GlobalSpec report and provide valuable insight and advice on establishing an effective lead generation and nurturing program in your organization.