WVU Marketing Communications Radio is a syndicated show, on the Funnel Radio Channel, that is at the intersection of data-driven decision making and marketing practice. Each week we will highlight an emerging or current trend impacting marketers today. Hosted by Cyndi Greenglass, our inaugural faculty member in the Masters of Science DMC Program, we will hear from leading professionals who blend the academics and practice of data-driven marketing today.
Subtitle: A Study of Personal and Business Buying Experiences and Where Sellers Fall Short
Length: 17 Pages
Highlights: This research was conducted online of 1,000 adults by Zogby Analytics, which was commissioned by Velocify and PossibleNOW. It reported on potential buyers that fill out on-line forms (most after considerable research) and found that up to 70% of the companies they submit to never respond. These are for high ticket items and products that covered 11 areas including B2B and not just B2C. The report covered:
- Time spent on research prior to submitting an inquiry. They separate business and personal inquiries. Nice chart showing how many hours are devoted to the research. Hint business inquirers spent more time and personal inquirers spent less.
- Use of mobile devices for research is surprising.
- There are two charts showing the Impact of Slow or No Response. More than half of those surveyed said they experienced no response. Business inquirers fail 70% of the time!
- Low and no responses influence the purchase decision.
- How slow is too slow? Nice chart: a wake-up call here.
- The worst experience for online buyers is the category of no response, beating out four other categories.
- Impact of competition. Those that respond to customer success are more likely to win the sale.
- Buyer Preferences for Contact Practices (three pages).
This report, as many of the Velocify research reports, presents the problem, implies and discusses the solution. It is a guide for marketing that must understand it isn’t enough to create a demand generation program, you also have to manage and address prospect needs (which includes follow-up) until the sale is made.
Why It’s Important:
"This research clearly points out marketing's failure. Everyone complains about the failure of salespeople to follow-up leads, but marketing is just as much to blame. The excuse that “the sales person didn’t do it” isn’t valid any longer. This report from Velocify, proves it."
- C-Level Folks
- Marketing Operations
- Content Management and Creation
- Product Management
You will also like:
- Sales Research- Automate or Else - Velocify and AA-ISP
- Research from Velocify: Companies with 20% Growth Rely on Purchased Leads
- J.Jeffery of Velocify The Unpleasant Reality About Voice Mail, Call and Email Lead Management
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