At our Online ROI Summit in San Francisco last week, I covered the highlights of the findings from our latest Media Consumption Research in which we compare responses from IT buyers versus BtoB/prosumer buyers. The upshot of the study revealed that there are indeed more apparent similarities between the 2 audiences in terms of how they peruse online information and media.
However, the finding that got the most attention, was the response to the question we’ve been asking for 5 years now, namely, how long is your purchase cycle from when you identify a business problem, to researching it online, to making a final decision on a vendor to solve your problem.
Historically, the response has always been up to 12 months and more. This latest sample of 4,000 now tells us it is up to six months max-huge drop. At the Summit I speculated as to what the external factors are that have brought about this dramatic change. The marketer audience was most intrigued with how that compressed buy cycle now dovetails with their existing sales cycles?
Does anyone want to venture an opinion on what has happened here?
For a full report of the research: