DUBLIN, IRELAND and SEATTLE, WA--(Marketwired - Dec 13, 2016) - Altify (formerly The TAS Group), the global leader in sales transformation, today announced the immediate availability of nine industry-specific research publications that illuminate what buyers in each industry think about their interactions with salespeople. The industry publications build on the Altify Buyer / Seller Index Study of 1,245 participants from 66 countries, which examined the gap between buyer and seller perspectives and the economic cost of misalignment. That study was first published in April of 2016 by Altify Knowledge, a knowledge and research resource for Altify's customers and the broader sales community.
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The ongoing research into buyer behavior is a collaborative initiative between Altify and IDD Consult -- a strategic procurement consulting company, uniquely contrasting the opinions of the buy and sell-side of the equation. It brings buyers and sellers together for the first time to help buyers better understand the seller's perspective, and guide sellers to deliver more value to buyers by fully appreciating their point-of-view.
Inside The Buyer's Mind -- Industry Research Highlights
- Automotive buyers engage suppliers earlier: In the global report, 67 percent of buyers indicate that they engage suppliers early in their buying process. In automotive, that is even more front-loaded with 50 percent engaging even before the project is identified.
- High-tech sellers score poorly on adding value in meetings: According to high-tech buyers, 40 percent of sellers are seen to 'rarely' or 'never' add value. This poor score from buyers may reflect the complexity of the product/service and hence the need for the salesperson to be technically qualified in their field in order to gain trust and add value.
- Manufacturing buyers prefer the incumbent supplier: The global audience of buyers only prefer the incumbent supplier only 41 percent of the time. In manufacturing, however, this is much higher at 72 percent.
- Professional services sellers can't access decision makers: Even including expected cost and quality of the solution, the overwhelming factor that buyers look at when selecting a supplier is their previous experience with that supplier. Fifty-three percent of buyers put that as their number one criterion for making a purchase.
"Contrary to some opinions, buyers across all industries depend on sellers to help them make a decision," said Ingrid De Doncker, CEO of IDD Consult. "This unique research shows how sellers in each industry are falling short. Buyers and sellers need to understand each other's perspective to deliver maximum mutual value -- and now sellers can learn what changes they might need to make."
"It has always been about the customer -- and that is even more true today," said Donal Daly, CEO of Altify. "Part of our role is to help our customers, who are typically selling organizations, understand what their customers think. This new research provides a huge opportunity for growth for sales professionals who want to bring more value to their customers and take a customer-first perspective."
The study's findings were based on quantitative analysis of the submissions of 1,245 respondents between February 16, 2016 and March 24, 2016. Comparative analysis of each of the data points for both buyers and sellers was undertaken to establish absolute and relative perspectives. The analysis was also expanded to consider demographic, firmographic and geographic factors to establish further insights. Where mathematical calculations were conducted based on ranges, the median point of the range was used. All amounts were calculated in US dollar currency. Where outliers existed in any of the data submitted, outliers were subjected to qualitative assessment for inclusion or exclusion. The US Bureau of Labor Statistics was used to determine the number of sellers (15,000,000) and professional buyers (961,000) in the US. LinkedIn was used to determine indicative global numbers for sellers (35,000,000) and buyers (3,700,000).
To receive your copy of Inside the Buyer's Mind for any of the industries listed, or to get the original Altify Buyer/Seller Value Index 2016 please contact firstname.lastname@example.org.
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