This particular marketing chart shows how social media accounts does little to influence decisions while peer recommendations is an important influence.
What it does not tell you is whether the vendors use social media tools to connect and add value or instead used in traditional methods similar to broadcasting. However, the study also demonstrates that buyers feel that vendors’ social activity can help establish a company’s credibility.
MarketingCharts.com article refers to the survey:
There appears to be demand for more marketing technology, according to the report, as more than 4 in 10 feel that their existing stack is out-of-date and insufficient."
The report also talks about when the search begins:
Not surprisingly, the search for a new marketing technology most commonly takes place when respondents recognize a need (44% share) or when the current solution isn’t delivering the right results (21%).
But marketers typically learn about marketing technologies before they turn to search: 30% said they usually first learn about them from peers or colleagues; 20% first from publications or blogs; and 13% first from search.
As for the publications that inform them, Forbes (44%), Wired (37%) and the Wall Street Journal (35%) are the destinations where the largest proportion of respondents read about marketing technology solutions and marketing industry news."
In segmenting respondents by titles, the Walker Sands study notes that:
- Price is the top purchase factor for CMOs
- Peers are the first place each job title first learns about solutions
- The company or product website is on par with product demos as the top content source
- Budget is the biggest obstacle to a purchase for each job title
What do you read?
Did you note that Forbes, Wired, and Wall Street Journal are a top resources for doing research? If your potential customers are reading this material, I hope you have subscribed.
Your business may do more with restaurants, automobiles, retail or real estate investments. If so, you will read other publications and/or blogs that your customers read. (It might be anything from TV Guide, Shark Tank or Consumer Reports)
Marketing Charts is a favorite source that gives snapshots about trends. I skim over the "what marketers think" research and charts. I am more interested in understanding what buyers are thinking than marketers. While it is important to filter the data and not take things at face value, you will find it to be an awesome resource.
The final takeaway
If you think beyond marketing, it will be obvious others that you have a mission to conquer the world and change the community, Your consistent offer to lend a hand with a tip, a blog, a video, a recommendation, a referral or Almond Roca... will be recognized and appreciated.
The marketing chart above says "peer recommendations' is the top influencer. Consider how each person you support is a potential peer or is a friend of a friend and falls into this group. (And be interested in what they read.)
If what you do is a task, it will be difficult. If you make it matter, what you hope for falls into place. (And sometimes almost seems like magic.)
