GlobalSpec Provides Strategies to Align Marketing with the Industrial "Buy Cycle"
New white paper provides survey results and benefits of using online methods for each of the four stages of the buying process
Troy, NY — (Business Wire) — 3/2/2010 — GlobalSpec (www.globalspec.com), the leading specialized search engine, information resource, e-publishing and online events company for the engineering, industrial and technical communities, today announced the availability of its newest white paper, "Understanding the Industrial Buy Cycle: How to Align Your Marketing with Your Customers' Buying Process."
Developed specifically for companies within the industrial sector, the white paper explores the four stages of the industrial buy cycle: Needs Awareness, Research, Consideration & Comparison and Procurement, and the implications of how the prevalent use of online methods for gathering and comparing information has come to dominate each of these stages.
The white paper features the results of a comprehensive survey of engineering, technical, manufacturing and industrial professionals who have influence on their company's processes for buying products and services. Highlights include the length of the buy cycle, sources buyers use to obtain information, the amount of content buyers review before making a purchase decision, how various factors influence purchasing decisions, and the number of suppliers evaluated before making a purchase decision.
One of the key concepts addressed in the white paper is the "last click" reporting standard, where credit for conversion is given exclusively to the final ad seen or acted upon by a prospect before purchase, leading marketers to making flawed decisions on where to focus their efforts. The white paper drives attention to this marketing mistake, encouraging organizations to examine the role that every marketing program plays in bringing buyers to a company, versus focusing solely on the last click.
"The survey results reinforce the need for industrial marketers to utilize a comprehensive online marketing program to reach customers and prospects through the entire buy cycle," said Angela Hribar, chief sales and marketing officer for GlobalSpec. "It further advises marketers of the downside of the 'last click' concept where credit for a conversion is exclusively given to the last ad a prospect acts upon."
For a copy of "Understanding the Industrial Buy Cycle: How to Align Your Marketing with Your Customer' Buying Process," visit http://www.globalspec.com/wp/WP_BuyCycle_media.
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