The BuyerSphere Project puts into context all that is changing with B2B marketing and B2B buying behaviors and purchases. It goes in depth on virtually every topic affecting how business buys from business in a digital marketplace. The content of this book is the result of an extensive research initiative conducted by Enquiro with the support of Google, Marketo, Covario, Business.com, and demandbase. While I purchased a copy of the book at Amazon, Enquiro also graciously offers the the book as a free download at the Enquiro web site.

In my Twitter #B2Bbookclub interview with Gord Hotchkiss, Author and CEO of Enquiro, we cover several topics presented in The Buyersphere Project. One thing you are certain to recognize in this interview is that Gord is one of the leading thinkers in understanding the B2B purchasing process and the phycology involved in it that many of us have overlooked for far too long. If you are responsible for or involved in B2B marketing, The BuyerSphere Project is a must read. There is little chance you will find as much useful, helpful information on the changing nature of B2B marketing as Gord has packed into these less than 200 pages. Enjoy!

Jeremy: Gord, thanks for joining us today. I enjoyed reading The BuyerSphere Project tremendously. It stretched my thinking and I think that is what all of as B2B marketers need right now, new thinking. Is this what prompted you to write the book?

Gord: It was a few things. I felt there was little research out there into how companies buy. Also, we had our own experiences that showed there was more to the process than we knew, looking at it with our vendor hats on. So we decided to peak under the hood

Jeremy: It was a good decision. The BuyerSphere Project is filled with useful, helpful information. How is the book being received so far?

Gord: I think it sneaks up on people. When people read through it they find a lot of information. They are surprised at how much is packed into 200 some odd pages. One marketer called it a fire hose…so, it’s definitely building momentum.

Jeremy: I can definitely see why. Let’s start with the definition of “The BuyerSphere.” And why should it be mapped.

Gord: Okay. The premise of the book is to really understand your prospect – to see the process through their eyes. That’s the BuyerSphere. There are three dimensions: their view of the product, their view of the market. And finally, their reality as the buyer. What type of organization, the degree of risk, their role.

It needs to be mapped to allow us to shift our perspective to that of the buyer. And the more risk there is in the purchase (for the buyer) the more we need to invest the time to map the BuyerSphere. Risk is the overwhelming critical factor to understand.

Jeremy: Where do you think generally we are in the adoption curve with B2B marketers viewing their customers this way?

Gord: Very very very very (you get the idea?) early! This is very uncommon, at least from what I’ve seen. It’s a little more common in the B2C world, as they have more of a history of ethnographic customer research, literally, observing their customers “where they live”.

We seem to accept that emotions are common with consumers, but what I think our research showed was that emotion is very much present in the B2B market as well. It’s not a rational marketplace. So, B2B marketers are slow to come to the table in understanding the need of a deep understanding of their prospects emotional reality and the psychology at play here. There just isn’t a big body of info about this.

Jeremy: I’d agree is super early, but when you step back and consider that’s where we are in 2010, it seems almost imcomprehensible. What challenges are b2b marketers having seeing this shift?

Gord: We get caught up in technology, and we forget that what’s really important are the people using the technology. I think B2B marketers are struggling to realize the magnitude of the shift that’s happening. There was a lot of talk in 1999 and 2000 about frictionless B2B markets. That idea was appealing to B2B marketers.

In theory, it commoditized B2B purchasing, Made it rational.But what really happened was that buyers had more information than ever before, which made things more complex, not simpler. The internet introduced a number of new dynamics, just not the ones we expected.

Jeremy: Compounded by the irrational nature of B2B purchasing?

Gord: Exactly. B2B purchasing is all about mitigating risk. And the internet gives us some powerful new ways to do that. Many of which would be surprising to vendors.

Jeremy: This was my first “a-ha” moment in the book. Humans (people) make B2B purchases – and there are often many different people involved in the decision, each with multiple priorities, fears, uncertainties, and doubts.

Gord: For example, we found existing relationships with vendors to be hugely influential in eventual purchases. An early chat with a favored vendor can essentially define the landscape of the purchase. And face to face is still vitally important in high risk scenarios. The web doesn’t change that.

Jeremy: On the topic of risk – will you define Risk Gap for us? And how the emotion of fear impacts the purchasing process?

Gord: We have this vision of a buying funnel, an ideal model of prospect behavior. There are some assumptions there – the process is linear, all prospects are treated equally, and that it is rational and logical. That’s almost never the case. There are incumbent vendors that block the funnel. New prospects come from nowhere. And above all, there’s a risk gap. The process starts with what we call “doers” -the people using the product.

But at some point it switches to “buyers,” -the ones who control budget and that’s usually where you find the risk gap. Suddenly, the decision criteria changes. It switches from product risk to vendor risk. That’s where the funnel often blows apart. Suddenly, vendors disappear from it and new ones come in.

Jeremy: You stress the importance of face-to-face interaction, does the amount of face-to-face interaction needed rise with higher risk?

Gord: Absolutely. We’re built to communicate face to face. There is a richness of communication that other channels can’t match. We need to be face to face to build trust. That’s just how we’re built. Online is efficient communication. Face to face is effective communication. [<--editorial insertion: brilliant quote]

What you need to do is plan a persuasion strategy so you’re using each channel to it’s advantage. Use online to get the right information in the hands of the right people. I called those IQ friction points – the need for information. And then there are EQ friction points – the need for persuasion. That’s the place for face to face.

Jeremy: To your firehouse metaphor earlier, we’ve only scratched the surface of Chapters 1 & 2. You really have packed this full. Let’s move to Maximizing Online Touch Points. Why does the influence of online factors increase with risk?

Gord: It comes to something called information asymmetry. The higher the risk, the more information we need. It used to be that the seller always had more information than the buyer, hence the asymmetry. The web changed that. That’s why we have some much more online activity in high risk purchases. Another thing, the “doer” goes much further down the path now, thanks to all the information available online. There’s more of an overlap between doers and buyers. This makes things a lot more complex for the vendor to understand.

Jeremy: How should marketers adapt in the face of this new found “information symmetry” between the buyer and vendor?

Gord: It sounds cliche, but understand that this is a partnership. You have to meet them halfway. Take a servant based approach to the process. You’re there to serve their needs. The better you do that, the more successful you’ll be. And you can only understand needs by getting to know them. Use online to enhance traditional sales practices, not replace them. There is an exponential increase in effectiveness.

Jeremy: And back to your definition of The BuyerSphere – looking at it through their eyes and note your own, right?

Gord: Yes! Absolutely. You can get by without a deep understanding in low risk, commoditized purchases (although this understanding would certainly help), but it’s essential in high risk purchases.

Jeremy: A few more questions before we finish up. First, why do you believe a company’s website is its most important digital asset?

Gord: Our research has shown that it’s the biggest factor in influencing purchases. There is a lot of interaction on it. Increasingly, we have a portfolio of digital assets: podcasts, videos, etc..but the website is still the crown jewel. That’s why it’s essential to understand what people are looking for on it. The rule is, make sure you do the basics first. Pricing, product info, comparisons with the competition, in forms that’s easy to pass along. People love info that they can quickly scan..random access info. Serial access..videos, flash demos, etc, come after. But you have to know who you’re talking to. To be a servant, you have to know “who do you serve?”

Jeremy: So what is your take on those that are beginning to say a Blog is the main hub or most important digital asset?

Gord: Blogs are great for thought leadership. That’s higher up in the chain. It’s essential in carving a niche in the market. It serves a different purpose. It’s an important one, but it’s not a replacement. Again, if you map the buyersphere. You’ll understand the role of a blog in risk mitigation of your prospects. Then evaluate it’s place in your strategy.

Jeremy: Great Quote (pg 145) Information gathering has to support the prospect, not violate the relationship. Question… Why are marketers reluctant to accept this and continue to place the same “lead form” in front every piece of content?

Gord: It’s all about control. Marketers want to control the process. It’s probably the single biggest mindshift that’s needed. They don’t realize other choices are just a click away. This is a path that you’re walking down with your prospect. You direct that journey by providing persuasive paths to follow, not forcing them into dead end alleys. Forcing only works if you prospect has no choice..if you’re a “vending machine in the desert” to use example from the book. And that is probably the single biggest reason why B2B marketers are behind the curve. They hate giving up control.

Jeremy: Just one last question. I agree with you that digital marketing is just preparing to cross the Chasm, what words of advice do you have for today’s B2B marketers?

Gord: Take nothing for granted. With chasm crossings, there is inevitably a changing of the guard. That means there is a dramatic shift in the market place. Treat this as a warning. Things are changing. Nimbleness, responsiveness, boldness and a willingness to make mistakes may not be a guarantee of survival. But they are by far your best bets for success. Online pure plays have eaten the lunch of the big guys in the consumer world. Expect the same to start happening in the B2B world.

Jeremy: Gord, thanks for your time. As a reminder…the book is available as a free download for anyone interested, visit http://www.enquiro.com/b2bresearch.

As a preview to the upcoming Search Engine Strategies conference in San Jose, Byron Gordon of SEO-PR caught up with our CEO & President, Gord Hotchkiss. Gord will be presenting at the search marketing conference as part of its B2B & Vertical track on August 12. He will be joined in person by the same B2B panel of experts that participated in our popular webinar series.

The BuyerSphere Project at SES San Jose
August 12, 4:00 – 5:15pm

- Gord Hotchkiss, President & CEO, Enquiro
- Mark McMaster, Senior Planner of B2B and Technology Markets, Google
- Ben Hanna, VP Marketing, Business.com
- Chris Golec, Founder and CEO, Demandbase
- Jon Miller, VP Marketing, Marketo
- Matthias Blume, Chief Analytics Officer, Covario

A major B2B research initiative, conducted by Enquiro with input from Google, Business.com, Covario, Marketo and DemandBase, showed that most marketers are not effectively leveraging online assets to their best potential. Among other things, the notion of a strictly followed, traditional buying funnel is simply not accurate in many instances, risk dictates buying behavior, search is incredibly important as an integrator across online and offline channels and face-to-face persuasion is still necessary in many high risk, complex purchases.

The BuyerSphere project looks at how online strategies became artificially separated from traditional best practices, how they can be more effectively integrated and the part search plays as a major influencer. This panel will review the research from over 100 face-to-face interviews, hundreds of eye tracking sessions and over 3,000 survey responses in total. The project represents a major step forward in understanding B2B buyer patterns and the part online marketing can play in influencing them.

For more background the B2B marketing webinar and white paper series, see www.enquiro.com/b2bresearch.

Our final webinar in the series will be – in my opinion – one of the most fascinating and thought provoking.  We’re calling it The Rise of the Digital Native: B2B Buying in Flux.  Gord Hotchkiss and his panel of experts are taking a look at a very basic but fundamental question: Does age play a role in marketing?  What does Enquiro’s latest research show us about B2B buying behavior as it relates to the buyer’s demographic, and more specifically, how and when the buyer grew up?

For the first time ever in an Enquiro webinar, we’re also joined by Danny Sullivan and Rand Fishkin, two very big hitters in the Search Marketing industry.  They will be part of the panel along with our own Gord Hotchkiss, Ben Hanna (Business.com), Chris Golec (Demandbase), Matthias Blume (Covario) and Mark McMaster (Google). 

As an attendee of the live event, you will get to hear the discussion as it happens, plus be able to send the panel your marketing-related questions.  We will also be touching upon the highlights of the rest of the series, so if you’ve missed previous webinars, don’t miss out on this one. To top it off, one lucky attendee will win a BuyerSphere hard copy white paper package, plus a 15-minute search marketing audit with an Enquiro account manager.

The Rise of the Digital Native
Live Webinar
Wednesday, June 24  2:00pm Pacific
Register now –>

The webinar explores:

• The differences between a Digital Native and a Digital Immigrant
• Why the brain gets wired differently in Digital Natives
• How this impacts interactions with technology and the web
• What are the implications for B2B buying
• How the landscape might shift in the next decade

Panelists:
Gord Hotchkiss – President and CEO, Enquiro
Rand Fishkin – CEO and Co-Founder, SEOmoz
Danny Sullivan – Editor-in-Chief, Search Engine Land
Ben Hanna – VP Marketing, Business.com
Mark McMaster – Senior Planner of Technology/B2B Markets, Google
Chris Golec – Founder and CEO, Demandbase
Moderated by Bill Barnes, EVP Business Development, Enquiro

Rand Fishkin, CEO and founder of SEOmoz, and Danny Sullivan, Editor-in-Chief of Search Engine Land will be special guests at the wrap-up to the BuyerSphere webinar series, June 24.