New vendors to drive half of IT purchases In 2022

Last week we looked at how changes in the market have led to a redefining of the channel landscape.

Now a report has been published that indicates existing IT vendors may no longer have an edge as industry standards and customer demands change.

According to the study from IDG, 2022 Role & Influence of the Technology Decision-Maker, nearly half (45 percent) of technology purchases are expected to be made from a new vendor.

The main reason is that IT decision-makers (ITDMs) no longer think that their current product or service meets their business needs (44 percent). 

Whether or not an ITDM will seek a new vendor depends largely on the technology they are purchasing. More than half (54 percent) of data & analytics purchases will be from a new vendor, while only 27 percent of desktop/laptop purchases will be from a new vendor.

This is obviously of huge interest to channel partners selling those technologies – particularly when they are surrounded by their choice of vendor.

“There’s been a big shift of data and analytics into the cloud from on premise, so it seems natural that companies would be looking at new tools and capabilities from cloud providers,” notes the report.

“In addition, there are new tools and technologies – cloud databases/warehouses/data lakes – and some of them open source that companies are exploring as the nature of their analytics needs change. An example is as they go from more basic business analytics to advanced analytics like AI/machine learning. In fact, the whole push to AI/ML is driving buyers to explore new providers and compare them with existing capabilities. It’s kind of a generational change in analytics.”

Influencing the tech purchase process

Also important for the channel is that the average number of individuals who influence the tech purchase process is now 20 people – 10 IT and 10 LOB (Line of Business).

This, however, varies by the technology being purchased. On average, there are 24 individuals involved in cloud purchases (13 IT and 11 LOB), but only 16 in desktop/laptop purchases (seven IT and nine LOB).

The CIO or top IT executive is the top leader involved in each stage of the purchasing process, except for evaluating products and services. Instead, this is where the CIO relies heavily on IT staff, IT management, and engineers. Further, IT management strongly influences the purchase process in regards to evaluating vendors, recommending and selecting vendors and selling the technologies internally.

The good news for channel partners is that when asked about the likelihood of using an IT consultant when making a technology purchase, 91 percent responded that they are likely. ITDMs look to IT consultants when purchasing IT services (45 percent), cloud products or services (41 percent) and security solutions (37 percent). Although, the decision to rely on an IT consultant may vary based on the company size. 

What information sources are customers tapping into?

Importantly for channel marketers, IDG found that 76 percent of ITDMs spend more time consuming content from well-known and trusted brands because they are confident their time will be well spent on these sources.

On average, ITDMs download six pieces of trusted content to aid them in the purchase process. More than half (51 percent) rely upon technology content sites to enhance working knowledge. Other top information sources ITDMs rely upon include white papers (45 percent), webcasts/webinars (39 percent) and technology vendors via phone, email or video conference (39 percent). 

Vendor awareness highly impacts an ITDMs decision to engage with that brand’s content, specifically when it comes to product reviews (71 percent) and case studies (56 percent).

Video is a widely sought-after form of content ITDMs watch for business purposes (96 percent). They are likely to watch in-depth product reviews (46 percent), industry research/tech analyst reports (41 percent) and how-to videos (41 percent).

Additionally, ITDMs have plans for in-person work-related events. 57 percent of ITDMs have plans to attend an in-person work-related event over the next 12 months (23 percent are unsure and 21 percent say no). This increases slightly for executive IT (60 percent) and decreases by level (54 percent IT management and 49 percent IT pro).

It probably doesn’t even need saying that for technology marketers, it’s important to connect with tech buyers where they are researching solutions for their business needs and throughout the purchase process!

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