In March 2018, Magazines Canada, the national association of magazine publishers, hired researcher RKI Insights to find out more about B2B Buyers and their Media, where B2B buyers get info on new products and best practices, how they do their buying, and what impact age has on these processes. Almost 7,000 completed surveys later, they had a lot to say.
Download our B2B Buyers and their Media Survey
Infographic | Full Deck
For starters, what really matters to B2B Buyers and their Media is the brand. As in they are far less likely to select a product from an unrecognized brand and far more likely to ask for a discount if they do.
As for how they find out about brands, new products and best practices, preferred sources are remarkably consistent regardless of age. They like trade media and colleagues far more than other sources. Social media matters, but far less than most would think. Regardless of age, Facebook and Twitter are afterthoughts. LinkedIn has a bit more swagger. But not as much as industry enewsletters.
For example, while 73% of 35 to 44 year-olds chose their B2B media brands as a top source, and 64% chose colleagues, just 10% chose Facebook and 8% Twitter. Even LinkedIn was mentioned by just 24% of respondents as a source. And that changes ever so slightly if you drop down to younger age brackets.
How do they consume Business Media?
As for how B2B buyers consume business media, RKI Insights also uncovered some surprises. For an almost even three way split, 29% read print only, 34% read digital only, and 37% read both. And age is not a factor. The second heaviest print-only segment is 24 to 25 year-olds.
However, as expected the print-only reader segment is different. They are 49% more likely than digital-only readers to be a sole decision maker.
The segment also contains 68% more senior managers.
Also as expected, group buys are increasingly a thing. Over 55% of major B2B buys involve 3 to 10 people. Not as expected, more than half of millennials are involved in major purchases of over $250,000, although their role is more as a promoter of new technology and ideas than final shot caller.
And some final food for thought when deciding how to frame your message – 73% of B2B media readers say their company is a leader in using new technology. Of course far less than 20% are likely to be actual leaders, so B2B marketers will first need to convince Canadian companies that they aren’t actually ahead of the innovation curve.
Download our B2B Buyers and their Media Survey
Infographic | Full Deck
For even more information on what B2B Buyers want and how we can help you tell your story to our B2B Audience, fill out the form below.