Just as things like increased online media consumption and wearable technology have changed B2C marketing, so too have these innovations transformed B2B.
“The face of B2B is not what it used to be,” Jim Lecinski, vice president, US sales and service, Google, told attendees at the recent BMA15 event. “We’ve reached a tipping point and 80% of all time spent in media is now in digital. It’s the new normal.”
Google used its own data logs to track the behavior of 3,000 B2B buyers across 15 industries and tracked their path to purchase, looking at four key factors about various brands:
- How are they marketing to changing B2B audiences?
- How are they winning at key micro-moments?
- Are they delivering mobile-first experiences?
- Is their portfolio digital ready?
Millennials are now finally a significant part of the B2B audience. There has been a 70% increase in the amount of 18-34 year olds in B2B, up to 46% from just 27% in 2012. While they might not be in top positions yet, they can have a significant part to play, said Lecinski, noting that 81% of non c-suite employees have some influence on purchase decisions in their organizations.
“Are you considering this increasing millennial audience as the face of who you are marketing?” he asked.
Video is now the most important way to reach millienials doing research, and 70% of B2B buyers use video in their decision making process, Lecinski said, noting that the typical B2B purchase involves 12 key online searches.
The number of B2B-relates searches has tripled, he noted, adding that 42% of B2B searches on Google happen on mobile devices. “If you’re not there, that’s a competitive disadvantage.”
90% of all B2B purchases involve at least one search. “You need to know the consideration set,” he said, noting that the number of brands a prospect searches has shrunk—many only consider one or two brands in their purchase journey.
Don’t just wait for people to come to your site, he added. Export your content to sites millennials are already reading in a rich media unit. “Go to where they already are.”
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