A recent research report by Loudhouse, The Breathless Business, shows that 70% of B2B tech buyers believe that ‘there is a lot more competition in the marketplace’ than there used to be. Which sounds like good news for tech buyers. But it’s not all roses, with more choice creating more confusion and uncertainty – not to mention a new set of challenges for tech sellers in a crowded market.
Life’s getting harder for tech sellers
The Breathless Business found that 57% of tech buyers feel concerned that they might not make the best choice. For many, it’s also made the buying process more difficult, with 61% agreeing that the procurement process has ‘become more complex and time consuming’.
And this breeds frustration, with 58% saying ‘the buying process can be bewildering’ and almost two-thirds feeling that, despite there being a proliferation of suppliers, most are offering more or less the same thing. As a result, buying cycles are getting longer. Now, 56% of buyers report that it takes longer to onboard suppliers and partners than it did 18 months ago, with internal decision making becoming more complex.
So, as a tech seller, how can you differentiate your products and services from the competition?
It’s time to set yourself apart
You might be inclined to think that your salespeople are the ones who clinch the deals. But actually, it turns out lots of tech buyers have already formed their preferences – 99% of our tech buyers said there were cases where they’d formed a clear idea of what they would buy before reaching out to suppliers. Which means your website, your branding, and the content you put out into the world, all has a huge impact on influencing buyers before the conversation even starts.
On average, the tech buyers we surveyed spend four hours and 25 minutes reading industry news, and over five hours researching products, services and suppliers. With this in mind, it’s clear that, to set yourself apart, your content has to be relevant, informative, well-written, cleverly produced and able to cut through the noise of your market.
Sounds ambitious, doesn’t it? But the key point is not being afraid to stand up and stand out. Our research found that a whopping 84% of buyers are more likely to consider suppliers who are ‘brave in their marketing and aren’t scared to stand out’. With so much content on offer, buyers also want content to be more creative in order to engage them. And don’t be afraid to raise a smile – nearly 7 in 10 would actually like it if sales content was a little more humorous.
Stand up and stand out
As a technology seller, there’s lots of things you can’t control. You can’t make the market less saturated, or stop a new competitor from popping up – and you probably can’t make the buying cycle speed up again. What you can do is make sure the content you produce is engaging, brave and most of all cuts through the noise – helping you to stand out in a confusing, crowded market.
Find out how we can help you get to know your buyers better by getting in touch with us below.