When was the last time you went anywhere and, with any real research or time to think, spent $25,000 on a machine?! Again this is why iSeekplant refuses to exhibit at construction industry expos and events.
Big purchase decisions aren’t made at expos
Today’s business buyers now prefer independent online research to any other method of purchasing – 68% prefer self-directed research online, and 60% have admitted to hating talking to sales reps. This is now the order in which people value the contributors to the business procurement process.
- #1 Most Influential: Peer recommendations (reviews)
- #2 Most Influential: Analysts & thought leaders (online)
- #3 Most Influential: Business community forums
- #4 Most Influential: Industry publications
- #5 Most Influential: Salesperson
Events are no where in the mix
The average person making a significant buying decision, whether in a personal or professional capacity will undertake between 3 and 8 hours of online research, and the larger the purchase, the longer the research duration. Each time they search (95% of them search by entering a query or keyword string into Google), they get more and more detailed about what they want, until they’ve made up their mind on a make, model, brand and whether it will be new or used, then the final two things they search for is price, and a location to purchase from.
Close to 50% of people researching business purchase decisions are Gen Y or Millennials – who are making a generic keyword search as their first enquiry in 71% of cases (meaning they are searching for a service – like ‘plant hire supplier Condoblin’, not for a company or brand by their name). So these young’uns are tasked with finding the list of construction suppliers for consideration by the higher-ups. And even though most customers will tell you that they ‘know all of the guys making the decisions’ – even if they did know the near 300,000 people in Australia in construction procurement roles in the 5,460 construction companies in the country, they don’t know all of the young whipper-snappers creating these lists for them to make the decisions from. And I’m sorry – you’ve got to be on their list. And to get on that list, you’ve got to be on the biggest and most important ‘list’ of all - Google’s search results.
To read more about how big ticket decisions are never made at industry events download our ebook now.