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How Executives Engage
Understanding Changing Buyer Behavior
in Response to the COVID-19 Pandemic
Julie Schwartz, Senior Vice President, Research and Thought Leadership, ITSMA
How Executives Engage Survey 2020, Part 1
Abbreviated Summary | July 2020
This abbreviated summary highlights some of the most significant
findings of ITSMA’s How Executives Engage Survey 2020, Part 1.
A more in-depth analysis can be found in the full report
https://www.itsma.com/research/how-executives-engage-understanding-
changing-buyer-behavior-in-response-to-the-covid-19-pandemic/
ITSMA How Executives Engage Survey, 2020, Part 1 | Abbreviated Summary Summary | July 2020 | F033A © 2020 ITSMA. All rights reserved. www.itsma.com 2
Introduction
Engaging executives amid the pandemic:
Buyer priorities and preferences
ITSMA’s 2020 How Executives Engage Study,
Part 1, explores the initial impact of the COVID-19
pandemic on B2B executives’ buying behavior for
high-consideration, technology-based solutions and
consulting services.
Based on a survey in May–June 2020 with almost
300 senior business and IT executives, this report
digs into executives’ business and solution
priorities, engagement preferences for various types
of content, channels, and information sources, and
perceptions of how providers are engaging now and
will need to engage in the future.
Part 2 will revisit executive engagement priorities
and preferences with a follow-on survey and review
in September 2020.
Together, the two-part study will provide critical data
and insight for B2B marketers who are focused on
building and strengthening relationships and sales
at the executive level in the wake of the dramatic
disruptions of COVID-19.
How Executives Engage: Understanding
Changing Buyer Behavior in Response to the
COVID-19 Pandemic, Part 1 provides critical data
and insight on the priorities, preferences, and
perceptions of senior-level B2B buyers as they
consider high value services and solutions.
The report explores new and changing business
and technology priorities amid the pandemic, and
the types of content, events, and other activities
that senior executives value most during this time
of uncertainty.
The study includes survey data from 297
executives from seven regions/countries
(Benelux, Canada, France, Germany, Nordics,
UK, and US) across seven major industry sectors.
Most respondents are from $1 billion+ companies.
The study was co-sponsored by SAP and Adobe.
Specific highlights from the first wave of this
year’s study include:
• How have buying priorities changed since the
pandemic began?
• How has the purchase process changed?
• Where are executives now turning for new
information and ideas?
• How important is thought leadership now?
• What types of information sources are trusted
most?
• Are digital and virtual engagement efforts as
effective as face-to-face?
• What does it take to earn B2B executives'
confidence and trust?
In addition to aggregate data from the survey, the
report includes a set of crosstabs by region, job
role (IT vs. Business), title, and company size.
In this context, the report identifies eight essential
guidelines for B2B marketers to follow as they
adapt and develop their executive engagement
programs.
ITSMA How Executives Engage Survey, 2020, Part 1 | Abbreviated Summary Summary | July 2020 | F033A © 2020 ITSMA. All rights reserved. www.itsma.com 3
The new priorities for B2B
executive engagement
1 Digital transformation is accelerating with a
current focus on horizontal solutions 2 Despite the shift to digital, high touch
engagement is as important as ever
1
Transform to enable digital
business
2
Upgrade infrastructure to enable
remote work and collaboration
3 Cut costs
4 Grow revenue
5 Increase productivity
Top 5
Business Priorities
1 Cloud
2 Security
3
Collaboration/Remote Work
Artificial Intelligence (AI)
Top 3
Technology Investments
Video call
(Zoom, Webex, Skype,
Google Hangout, etc.)
Phone conversation/
conference call
(voice only)
% of respondents (N=297)
Source: ITSMA, How Executives Engage Survey, June 2020
At this point in time, how do
you prefer to engage with
solution providers (including
both technology providers and
professional services
firms/systems integrators)?
11% 14%
46%
52%
42%
35%
Most
preferred
Neutral
Least
preferred
ITSMA How Executives Engage Survey, 2020, Part 1 | Abbreviated Summary Summary | July 2020 | F033A © 2020 ITSMA. All rights reserved. www.itsma.com 4
The new priorities for B2B
executive engagement
3
Virtual meetings and events must be reinvented
to be more interactive, personal, and
collaborative
4 B2B executives are turning to solution providers
as a trusted source of content
% of respondents (N=297)
Source: ITSMA, How Executives Engage Survey, June 2020
24% 26%
30%
37%
25%
21%
12%
10%
8% 6%In general,
how effective
are virtual
events for
education and
peer networking
when compared
to in-person
events?
Peer networking
at virtual events
Education
at virtual events
Much less
effective
Somewhat
less effective
As effective as
in-person events
Somewhat
more effective
Much more effective
Since the pandemic, which sources of information do you trust the most?
Note: Up to two responses allowed.
Technology providers
Professional services/
systems integrators
Industry/professional online
communities/social networks
Academic institutions
Management consultants
Industry analysts
Media outlets
35%
35%
33%
25%
25%
25%
18%
ITSMA How Executives Engage Survey, 2020, Part 1 | Abbreviated Summary Summary | July 2020 | F033A © 2020 ITSMA. All rights reserved. www.itsma.com 5
The new priorities for B2B
executive engagement
5 Content format is not as important as substance
6 Collaborative innovation is key to earning
executives’ confidence
Long-form reports, articles,
surveys, case studies, etc.
Interactive visualizations
Webinars
Published presentations or
slide sets
Infographics
Virtual conferences/seminars
Videos
Short-form web copy, blog
posts, case studies, etc.
Audio podcasts
Based on your experience, how appealing and useful are the following content
formats? Mean rating (N=297)
Source: ITSMA, How Executives Engage Survey, June 2020
3.6
3.6
3.6
3.6
3.6
3.5
3.4
3.4
3.2
Not at all
appealing
Mean rating Very appealing/
usefulNote: Mean rating based on a 5-point
scale where 1=Not at all appealing/useful
and 5=Very appealing/useful.
What can solution
providers do now to earn
your confidence that they
understand your current
challenges?
% of respondents
(N=297)
Engage us with a
collaborative innovation
process
Publish high-quality thought
leadership publications on
relevant business and industry
issues
Meet/speak with me regularly
without giving me a sales
pitch at every meeting/call
Demonstrate a deep
understanding of my role and
personal business/technology
objectives
Top 4
Trusted Advisor
Engagement Priorities
ITSMA How Executives Engage Survey, 2020, Part 1 | Abbreviated Summary Summary | July 2020 | F033A © 2020 ITSMA. All rights reserved. www.itsma.com 6
Help me build the business case
Provide ongoing advice to help me make the right
decisions and avoid land mines
Put me in touch with the solution provider’s
subject matter experts
Provide me with unique perspectives on the
market and technology solutions
Educate me on new issues in technology
Provide me with benchmarks and best practices
Provide me with product or service information
Educate me on issues and opportunities in my
industry
Help me navigate among alternative solutions
Challenge my thinking
The new priorities for B2B
executive engagement
7 Decision-making is changing: potentially faster
and more price sensitive 8 B2B executives want sales to step up and be
more consultative
Emphasis on
negotiating discounts
and price concessions
Elapsed time
to make a decision
Number of solution
providers asked to
submit proposals
Number of people
involved on the buying
team/ committee
17 5 1 -1
What impact do you think the current economic environment will have/is having on the
purchase process for major consulting and technology solutions purchases
(with a value of $500,000 or more)? How has/will the decision process change
compared with six months ago?
% of respondents (N=297)
Source: ITSMA, How Executives Engage Survey, June 2020
IncreaseDecrease
Net
Incr.
32%
27%
23% 21%
15%
22% 22% 22%
33%
32%
30%
29%
25%
25%
25%
23%
22%
21%
Rank #1 Rank #2 Rank #3
Given the current environment, which are the three most important things an
account manager or sales rep should be doing for you?
Note: Respondents were asked to rank the
top three in order of importance.
ITSMA How Executives Engage Survey, 2020, Part 1 | Abbreviated Summary Summary | July 2020 | F033A © 2020 ITSMA. All rights reserved. www.itsma.com 7
ITSMA’s 2020
How Executives
Engage Survey,
Part 1
Web-based survey
Business
50%
IT
50%
Job role
Are you an IT
or business
professional?
Size of company
Approximately what is
your company’s annual
revenue (or operating
budget if government)?
Country/
region
In which
country/
region are you
located?
France 11%
Germany 11%
Nordics 11%
Benelux 11%
UK 11%
US 36%
Primary business
What is your company’s primary business?
Financial Services (banking, insurance, investments, etc.) 17%
Manufacturing (industrial, process, automotive) 17%
Technology (software, hardware, services) 14%
Healthcare and Life Sciences (healthcare delivery,
biotechnology, medical technology, pharmaceuticals)
14%
Communications (telecom, media, entertainment) 13%
Energy/Utilities/Oil/Mining/Gas 13%
Government/Non-Profit/Public Sector 13%
% of respondents (N=297)
Canada 10%
$250-
999M
29%
$1B or
More
71%
Thank you to our
study sponsors
Survey invitations
were emailed during
May/June 2020
Senior IT and business decision makers/
influencers for solution purchases with a
value of $500K or more
297
ITSMA How Executives Engage Survey, 2020, Part 1 | Abbreviated Summary Summary | July 2020 | F033A © 2020 ITSMA. All rights reserved. www.itsma.com 8
Want to learn more?
For more information
Here’s what is included in the full study:
Julie Schwartz
Senior Vice President
Research and Thought Leadership
ITSMA
jschwartz@itsma.com
+1 407 788 8220
The report is available for no additional fee to current ITSMA
members and for sale at non-member price to all others.
https://www.itsma.com/research/how-executives-engage-
understanding-changing-buyer-behavior-in-response-to-the-covid-19-
pandemic/
Slide
Executive Summary 3
Methodology and Respondent Demographics 20
Detailed Findings 30
Crosstabs 62
By Region 62
By Job Role (IT vs. Business) 94
By Title 126
By Size of Company 160

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How Executives Engage: Understanding Changing Buyer Behavior in Response to the COVID-19 Pandemic

  • 1. How Executives Engage Understanding Changing Buyer Behavior in Response to the COVID-19 Pandemic Julie Schwartz, Senior Vice President, Research and Thought Leadership, ITSMA How Executives Engage Survey 2020, Part 1 Abbreviated Summary | July 2020 This abbreviated summary highlights some of the most significant findings of ITSMA’s How Executives Engage Survey 2020, Part 1. A more in-depth analysis can be found in the full report https://www.itsma.com/research/how-executives-engage-understanding- changing-buyer-behavior-in-response-to-the-covid-19-pandemic/
  • 2. ITSMA How Executives Engage Survey, 2020, Part 1 | Abbreviated Summary Summary | July 2020 | F033A © 2020 ITSMA. All rights reserved. www.itsma.com 2 Introduction Engaging executives amid the pandemic: Buyer priorities and preferences ITSMA’s 2020 How Executives Engage Study, Part 1, explores the initial impact of the COVID-19 pandemic on B2B executives’ buying behavior for high-consideration, technology-based solutions and consulting services. Based on a survey in May–June 2020 with almost 300 senior business and IT executives, this report digs into executives’ business and solution priorities, engagement preferences for various types of content, channels, and information sources, and perceptions of how providers are engaging now and will need to engage in the future. Part 2 will revisit executive engagement priorities and preferences with a follow-on survey and review in September 2020. Together, the two-part study will provide critical data and insight for B2B marketers who are focused on building and strengthening relationships and sales at the executive level in the wake of the dramatic disruptions of COVID-19. How Executives Engage: Understanding Changing Buyer Behavior in Response to the COVID-19 Pandemic, Part 1 provides critical data and insight on the priorities, preferences, and perceptions of senior-level B2B buyers as they consider high value services and solutions. The report explores new and changing business and technology priorities amid the pandemic, and the types of content, events, and other activities that senior executives value most during this time of uncertainty. The study includes survey data from 297 executives from seven regions/countries (Benelux, Canada, France, Germany, Nordics, UK, and US) across seven major industry sectors. Most respondents are from $1 billion+ companies. The study was co-sponsored by SAP and Adobe. Specific highlights from the first wave of this year’s study include: • How have buying priorities changed since the pandemic began? • How has the purchase process changed? • Where are executives now turning for new information and ideas? • How important is thought leadership now? • What types of information sources are trusted most? • Are digital and virtual engagement efforts as effective as face-to-face? • What does it take to earn B2B executives' confidence and trust? In addition to aggregate data from the survey, the report includes a set of crosstabs by region, job role (IT vs. Business), title, and company size. In this context, the report identifies eight essential guidelines for B2B marketers to follow as they adapt and develop their executive engagement programs.
  • 3. ITSMA How Executives Engage Survey, 2020, Part 1 | Abbreviated Summary Summary | July 2020 | F033A © 2020 ITSMA. All rights reserved. www.itsma.com 3 The new priorities for B2B executive engagement 1 Digital transformation is accelerating with a current focus on horizontal solutions 2 Despite the shift to digital, high touch engagement is as important as ever 1 Transform to enable digital business 2 Upgrade infrastructure to enable remote work and collaboration 3 Cut costs 4 Grow revenue 5 Increase productivity Top 5 Business Priorities 1 Cloud 2 Security 3 Collaboration/Remote Work Artificial Intelligence (AI) Top 3 Technology Investments Video call (Zoom, Webex, Skype, Google Hangout, etc.) Phone conversation/ conference call (voice only) % of respondents (N=297) Source: ITSMA, How Executives Engage Survey, June 2020 At this point in time, how do you prefer to engage with solution providers (including both technology providers and professional services firms/systems integrators)? 11% 14% 46% 52% 42% 35% Most preferred Neutral Least preferred
  • 4. ITSMA How Executives Engage Survey, 2020, Part 1 | Abbreviated Summary Summary | July 2020 | F033A © 2020 ITSMA. All rights reserved. www.itsma.com 4 The new priorities for B2B executive engagement 3 Virtual meetings and events must be reinvented to be more interactive, personal, and collaborative 4 B2B executives are turning to solution providers as a trusted source of content % of respondents (N=297) Source: ITSMA, How Executives Engage Survey, June 2020 24% 26% 30% 37% 25% 21% 12% 10% 8% 6%In general, how effective are virtual events for education and peer networking when compared to in-person events? Peer networking at virtual events Education at virtual events Much less effective Somewhat less effective As effective as in-person events Somewhat more effective Much more effective Since the pandemic, which sources of information do you trust the most? Note: Up to two responses allowed. Technology providers Professional services/ systems integrators Industry/professional online communities/social networks Academic institutions Management consultants Industry analysts Media outlets 35% 35% 33% 25% 25% 25% 18%
  • 5. ITSMA How Executives Engage Survey, 2020, Part 1 | Abbreviated Summary Summary | July 2020 | F033A © 2020 ITSMA. All rights reserved. www.itsma.com 5 The new priorities for B2B executive engagement 5 Content format is not as important as substance 6 Collaborative innovation is key to earning executives’ confidence Long-form reports, articles, surveys, case studies, etc. Interactive visualizations Webinars Published presentations or slide sets Infographics Virtual conferences/seminars Videos Short-form web copy, blog posts, case studies, etc. Audio podcasts Based on your experience, how appealing and useful are the following content formats? Mean rating (N=297) Source: ITSMA, How Executives Engage Survey, June 2020 3.6 3.6 3.6 3.6 3.6 3.5 3.4 3.4 3.2 Not at all appealing Mean rating Very appealing/ usefulNote: Mean rating based on a 5-point scale where 1=Not at all appealing/useful and 5=Very appealing/useful. What can solution providers do now to earn your confidence that they understand your current challenges? % of respondents (N=297) Engage us with a collaborative innovation process Publish high-quality thought leadership publications on relevant business and industry issues Meet/speak with me regularly without giving me a sales pitch at every meeting/call Demonstrate a deep understanding of my role and personal business/technology objectives Top 4 Trusted Advisor Engagement Priorities
  • 6. ITSMA How Executives Engage Survey, 2020, Part 1 | Abbreviated Summary Summary | July 2020 | F033A © 2020 ITSMA. All rights reserved. www.itsma.com 6 Help me build the business case Provide ongoing advice to help me make the right decisions and avoid land mines Put me in touch with the solution provider’s subject matter experts Provide me with unique perspectives on the market and technology solutions Educate me on new issues in technology Provide me with benchmarks and best practices Provide me with product or service information Educate me on issues and opportunities in my industry Help me navigate among alternative solutions Challenge my thinking The new priorities for B2B executive engagement 7 Decision-making is changing: potentially faster and more price sensitive 8 B2B executives want sales to step up and be more consultative Emphasis on negotiating discounts and price concessions Elapsed time to make a decision Number of solution providers asked to submit proposals Number of people involved on the buying team/ committee 17 5 1 -1 What impact do you think the current economic environment will have/is having on the purchase process for major consulting and technology solutions purchases (with a value of $500,000 or more)? How has/will the decision process change compared with six months ago? % of respondents (N=297) Source: ITSMA, How Executives Engage Survey, June 2020 IncreaseDecrease Net Incr. 32% 27% 23% 21% 15% 22% 22% 22% 33% 32% 30% 29% 25% 25% 25% 23% 22% 21% Rank #1 Rank #2 Rank #3 Given the current environment, which are the three most important things an account manager or sales rep should be doing for you? Note: Respondents were asked to rank the top three in order of importance.
  • 7. ITSMA How Executives Engage Survey, 2020, Part 1 | Abbreviated Summary Summary | July 2020 | F033A © 2020 ITSMA. All rights reserved. www.itsma.com 7 ITSMA’s 2020 How Executives Engage Survey, Part 1 Web-based survey Business 50% IT 50% Job role Are you an IT or business professional? Size of company Approximately what is your company’s annual revenue (or operating budget if government)? Country/ region In which country/ region are you located? France 11% Germany 11% Nordics 11% Benelux 11% UK 11% US 36% Primary business What is your company’s primary business? Financial Services (banking, insurance, investments, etc.) 17% Manufacturing (industrial, process, automotive) 17% Technology (software, hardware, services) 14% Healthcare and Life Sciences (healthcare delivery, biotechnology, medical technology, pharmaceuticals) 14% Communications (telecom, media, entertainment) 13% Energy/Utilities/Oil/Mining/Gas 13% Government/Non-Profit/Public Sector 13% % of respondents (N=297) Canada 10% $250- 999M 29% $1B or More 71% Thank you to our study sponsors Survey invitations were emailed during May/June 2020 Senior IT and business decision makers/ influencers for solution purchases with a value of $500K or more 297
  • 8. ITSMA How Executives Engage Survey, 2020, Part 1 | Abbreviated Summary Summary | July 2020 | F033A © 2020 ITSMA. All rights reserved. www.itsma.com 8 Want to learn more? For more information Here’s what is included in the full study: Julie Schwartz Senior Vice President Research and Thought Leadership ITSMA jschwartz@itsma.com +1 407 788 8220 The report is available for no additional fee to current ITSMA members and for sale at non-member price to all others. https://www.itsma.com/research/how-executives-engage- understanding-changing-buyer-behavior-in-response-to-the-covid-19- pandemic/ Slide Executive Summary 3 Methodology and Respondent Demographics 20 Detailed Findings 30 Crosstabs 62 By Region 62 By Job Role (IT vs. Business) 94 By Title 126 By Size of Company 160