How CIOs and CISOs Evaluate Solution Providers
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BlueWhale’s 2024 IT Buyers’ Marketing Preferences Survey explored how information technology decision makers evaluate new vendors and how marketers can capitalize on these findings to better market their solutions. The findings revealed that decision making behavior of Chief Information Officers and Chief Information Security Officers differs compared to other senior leaders. CIOs and CISOs evaluate fewer solution providers on a shorter time frame which has implications for vendors’ marketing and sales efforts geared toward the C-suite.
Timing C-Suite Outreach for Effective Engagement
The 2024 IT Buyers’ Marketing Preferences Survey of 400+ senior IT decision makers showed that over 40% of IT decision makers begin meeting with vendors at least six months in advance of making a purchase. Another 28% start meeting with providers three months prior to purchasing. IT purchasing decisions often involve intensive vendor selection and evaluation so it’s not surprising that buying committees begin their search well before making a purchase.
This lengthy buying cycle underscores the importance of building long-term relationships with IT decision makers. Marketing and sales teams need to proactively address buyer needs at various stages throughout the purchasing journey. This is the case for both the buying committee as a whole and various roles within the committee.
As seniority level increases, the length of time between vendor meetings and purchasing decisions decreases. Decision makers at the VP or C-suite level are brought in later in the process after others within the organization have researched and vetted vendors. A third of CIOs and CISOs reported that they do not meet with vendors until the month prior to the purchase which is three times the average of all senior leaders.
CIOs and CISOs Meet with Fewer Vendors Than Other Decision Makers
The vast majority of IT buyers consider two to five vendors on average when evaluating new technology purchases. In IT especially, where security and compliance are of utmost importance, solution providers must be evaluated thoroughly and purchasing decisions must be made carefully. Buying committees must assess the benefits and risks when comparing potential vendors through a highly involved process that could have implications across an organization’s entire data and technology infrastructure.
Because IT buyers are considering several competitors in order to make a well-informed decision, it’s important for solution providers to highlight their unique value propositions in a way that will help them stand apart. Understanding the competitive landscape allows vendors to differentiate themselves and proactively address ​​ objections related to competitive dynamics.
C-level executives reported meeting with just one vendor more frequently (17.6%) than their less senior colleagues. This is likely a reflection of the C-suite being brought into the buying process later. While they may be more actively involved in decision making internally, they are not as likely to meet with multiple vendors.
Going Beyond The C-Suite To Reach IT Buyers
These findings emphasize the importance of targeting the entire selection committee and not just senior executives so that vendors can get their solution in front of all stakeholders earlier. Vendors cannot afford to wait until a CIO or CISO is willing to meet and must establish buy-in with the rest of the committee earlier.
By proactively engaging with all levels of decision makers, solution providers can capture attention early and give them the resources to champion the solution internally throughout the decision making process. Developing long-term relationships also helps vendors to establish trust with prospects which is key in selecting and implementing new IT solutions.
Marketing and sales teams should not cease outreach efforts to the C-suite. But, they must diversify their outreach to increase engagement at all levels. By using these findings to get in front of multiple decision makers within a buying committee, vendors can optimize their marketing strategies to rise above the competitive vendor landscape.