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How senior decision makers buy with confidence infographic

Complex decisions are fraught with risk. To increase trust and confidence in making high-stakes purchase decisions, B2B buyers leverage professional networks.

In order to learn about the social media habits of high net worth investors, LinkedIn collaborated with IDC to find out if online social networks play a vital role in the purchase process. The survey results demonstrate that as buyers’ seniority, purchasing budget, and number of purchase decisions increase, they are more likely to use social media to improve the quality of their purchase decisions.

Learn how senior decision makers use social media in our latest infographic: “Why Senior Decision Makers Use LinkedIn for Social Buying.”

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How senior decision makers buy with confidence infographic

  1. 1. Are you prepared to reach social buyers? Download the research for more tips and insights: INCREASE SOCIAL PRESENCE: INCREASE SOCIAL PROXIMITY: BUYING WITH CONFIDENCE: HOW SENIOR DECISION MAKERS USE SOCIAL MEDIA Professionals who use social media for B2B purchasing have BIGGER BUDGETS, make MORE PURCHASES, and have MORE INFLUENCE than buyers who don’t use social. PROFILE OF A SOCIAL BUYER HIGH INFLUENCE: 84% of social buyers make purchases for their entire company, business unit, or multiple departments. Only 56% of buyers who don’t use social have that level of purchasing influence. LARGE BUDGETS: Social buyers spend $356K per purchase on average, 84% more than other B2B buyers. FREQUENT PURCHASERS: Social buyers make 19.8 purchasing decisions each year, 61% more than other B2B buyers. 25 20 15 10 5 0 Use social media 19.8 12.3 Do not use social media 61% MORE PURCHASES HAVE HIGH INFLUENCE SOCIAL MEDIA 65% 73% NEEDS OF A SOCIAL BUYER TRUST 65% of social buyers consider it critical to check the references of vendors with their colleagues, friends, and acquaintances. Senior decision makers benefit most from the increased trust and confidence found by tapping their professional networks. RECOMMENDATIONS 73% of social buyers prefer to work with sales professionals who are referred by someone they know. Senior decision makers use LinkedIn to seek recommendations from trusted peers and verify the expertise of the professionals with whom they do business. HOW TO REACH A SOCIAL BUYER Social Buyers avg. $356K Non-Social Buyers avg. $193KVS. 84%Larger Budgets 44%of social buyers found potential vendors by looking at shared connections on LinkedIn. Grow social networks, engage with influencers, and contribute to conversations. of social buyers researched vendors by looking at their LinkedIn profiles. Ensure your profile is accurate, information-rich, and service oriented. Approach other members with a "warm" introduction. of social buyers appreciate being contacted by vendors at the right time with relevant opportunities. Take note of insights on members’ profiles and networks to understand their needs and interests. SOCIAL BUYERS USE ONLINE CONNECTIONS TO SUPPORT THEIR PURCHASE DECISIONS. 84% 56% OF NON-SOCIAL BUYERS OF SOCIAL BUYERS 49% 63% BUILD SOCIAL CAPITAL: Social Buying Meets Social Selling: How Trusted Networks Improve the Purchase Experience (April 2014)