2024: The Year of Autonomy, Product Differentiation, and Buyer Skepticism
MarketingVogue & Enterprise Strategy Group 2024 Media Consumption Study | Global Insights
To effectively engage technology buyers, B2B marketers need a deep understanding of the media channels buyers prioritize when evaluating their purchasing options, and the sources of information they trust throughout their buying journey. This is why, each year, MarketingVogue and Enterprise Strategy Group conduct a global study of over 600 technology buyers, providing valuable insights that can help you align your content strategy with their preferences.
In this post, we’ll highlight six key takeaways from our 2024 Media Consumption Study, along with actionable recommendations to help you adapt your marketing efforts to today’s tech buying journey, engage your current customers more effectively, and attract new prospects.
1. Digital Self-Service Research Dominates
As our previous Media Consumption studies have shown, tech buyers are increasingly conducting their research independently and digitally—a trend that has only accelerated in the past year. The majority of buyers now report that they can build a vendor shortlist based solely on digital content. This emphasizes the importance of prioritizing digital content creation and promotion to meet buyers where they are in their journey.
2. Caution with Generative AI (GenAI) Content
While the rise of generative AI (GenAI) has made significant waves in content creation, tech buyers remain cautious. Despite a 909% year-over-year increase in GenAI purchase intent, buyers are still skeptical about content created by AI. They prefer content written by independent analysts and industry experts. As a result, marketers should reserve AI-generated content for less technical formats, such as infographics, news updates, and blog posts, while focusing on expert-driven content for more detailed and technical pieces.
3. Independent Sources Matter More Than Ever
Tech buyers are spending more time with independent sources of information. They rely on expert and technical advice to shape their vendor shortlist—far more than any other type of content. Year-over-year, reliance on analyst content grew by 36%. Marketers should integrate independent analyst reports and expert opinions into their content strategy to build credibility and meet buyer expectations for trusted sources.
4. Buyers Want Specific, Technical Information
A significant 65% of buyers expect vendors to understand their needs, and they demand highly specific technical details before making a purchasing decision. In addition to case studies, use cases, and educational content, buyers are looking for precise information on solution pricing, ROI, and implementation details. They prefer this information to be available in your content first so they can conduct their research and narrow down their vendor options before engaging with your sales team. GenAI content is unlikely to meet these technical and granular content needs, so marketers should prioritize in-depth, technical documentation and solution specifications.
5. Vendor Loyalty is Declining
Vendor loyalty has decreased significantly year-over-year, with 83% of tech buyers having added or switched vendors in the past 12-18 months. This highlights the importance of building trust with potential buyers and nurturing relationships with existing customers. Marketers should focus on sharing product best practices, keeping customers updated on brand differentiators, providing market insights, and highlighting new features and capabilities that address evolving customer needs.
6. High-Value Content is Crucial for Buyer Engagement
Tech buyers are more discerning than ever when it comes to the content they consume. As a marketer, failing to meet their content needs could mean losing their attention to your competitors. To capture and maintain buyer interest, you need a robust content pipeline that speaks directly to their technical pain points and content consumption preferences. High-value, expert-driven content is key to staying competitive and relevant in today’s fast-paced market.
Conclusion: Content is King
Meeting the content needs of tech buyers is more important than ever. As the buying journey continues to evolve, marketers must adapt their strategies to deliver the content buyers crave. By following the insights and recommendations from our 2024 Media Consumption Study, you can ensure that your content resonates with tech buyers, establishes your brand as a trusted resource, and ultimately helps you win new business in an increasingly competitive landscape.
