B2B buyers in an uncertain world

ITSMA members gathered in-person this week to explore the findings from the latest Customer Buying IndexTM (CBX), and hear from special guest Parliamentary Digital Service's Tim Youngs.

Robert Hollier

by Robert Hollier

June 29, 2022

ITSMA members gathered in-person this week to explore the findings from the latest Customer Buying IndexTM (CBX), and hear from special guest Tim Youngs, Director of Resources and Shared Services at Parliamentary Digital Service.

CBX explores the major changes in enterprise buying behavior over the past two years. We quizzed senior execs from some of the world’s largest organizations across North America, EMEA, and APAC to find out what makes them tick – and what you need to do to get their attention.

Attendees heard how businesses are prioritizing innovation and growth – but around half of those businesses are not “first-movers”, preferring to wait for evidence of ROI before investing in a solution.

The survey also revealed that organizations are more likely to consider new solutions providers than they were two years ago at the height of the pandemic. Vendors should consider this a warning to double-down on existing clients. Meanwhile, disruptive firms should act now to acquire new logos.

ABM is almost a standard practice, it seems. Three-quarters of respondents to our survey have received ABM-style personalized content. This begs the question: how are you making sure yours is a cut above the rest?

The second part of the event saw Andy Bacon, Senior Vice President of Growth at Momentum, in conversation with our special guest Tim Youngs, Director of Resources and Shared Services at Parliamentary Digital Service.

Tim told the audience about the challenges of working in such a complex role in which he is responsible for IT and digital services and training for the House of Commons, the House of Lords and Parliament.

He explained that the CBX survey results rang true, particularly when it comes to innovation. Anecdotally, he said that while some Lords employees are “real experimenters” who have worked in industry for many years and are therefore open to innovation, there are some skeptics who are slow to adopt new technology. Word of mouth is key to getting buy-in for new tools – and a bit of friendly competition between the House of Lord and Commons means both departments are keen to “leapfrog” the other.

It appears that government expects the same as private sector clients when it comes to vendors: a strong understanding of their unique challenges, a collaborative approach, and a willingness to share R&D and new ideas. However, Tim admitted that there was a “laziness or complacency, both on the part of suppliers and us as clients”. He acknowledged the increasing need to maximize value for money, and as a result, his department was indeed open to new vendors that showed strong ROI and proactivity.

If you’d like to hear more about the CBX and buying behavior, get in touch or sign up to the Growth Hub to receive exclusive invites, research, and access to subject matter experts.

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