Foundry, the media, data, and martech division of IDG released
today the 2024 Role & Influence of the Technology
Decision-Maker study. In its sixteenth year, the study provides
in-depth information about the evolving role and influence of the
IT buying committee in today’s corporations, especially as
technology’s role in business continues to increase. The research
looks at who’s involved across the many stages of the tech purchase
process, how they prefer to source and consume content, and where
they need help from technology vendors along the way.
“Foundry’s Role and Influence of the
IT Decision-Maker study expertly highlights the growing complexity
of the tech purchase process—from increases in stakeholders to
myriad internal headwinds driving decisions,” says Laura Nespoli,
Group Strategy Director who leads the Google and Salesforce
accounts at Article Group, an agency designed to meet the needs of
the modern tech marketer.
With 65% of respondents affirming that the technology purchase
process is growing increasingly complex (up from 61% in 2023), much
of the data in the study finds that technology buyers are looking
to vendors to ease the process across multiple buying stages,
especially in demonstrating support for ITDM’s unique roadmaps and
customer requests.
“As the role and influence of IT
grows, so does the responsibility of product marketers to lead with
simplicity in helping their customers through the process,”
continued Nespoli. “This research shows that today’s approach
requires a greater level of sophistication to satisfy buyers’
expectations for a tailored content experience, buying team
collaboration, and strategic vendor support at scale.”
Buyers need individualized use case support at key stages to
overcome purchase stall
As companies’ technology
infrastructure grows to support more key areas across the business,
IT decision makers are requiring vendor assistance across multiple
stages of the purchase process. In fact, 94% say they need
additional resources or assistance from vendors, with 65% saying
they work with vendors to help develop the business case around
their investment in the technology. As purchase complexity grows,
this year’s research highlights key barriers and motivating factors
across the purchase process, as well as the stages buyers say they
require the greatest level of external support.
Asked about obstacles to tech buying, respondents cited skill
shortages as the top internal factor (41%) creating a barrier to
purchase decisions, and cited determining the business need (37%),
evaluating products/services (37%), and determining technical
requirements (33%) as the stages most likely to see process stall.
Notably, product/service evaluation (46%) and determining technical
requirements (43%) were also the top two stages IT buyers said they
needed the most vendor assistance—the same two stages being owned
internally by IT/networking management staff.
With regards to what’s motivating technology purchases, this
year’s study found customer requests as the number one external
area accelerating the process (49%), affirming findings in the 2024
State of the CIO study that improving customer experience is a top
initiative driving IT investment this year. These findings signal
that ITDMs are becoming more hands-on in understanding and
implementing their customers’ unique needs and, for vendors,
present an opportunity to offer information aligned to these
bespoke use cases.
ITDMs are weighing trust and reputation against innovation
and competitive pricing
As buying committees become larger and
require increased vendor assistance, trust and reputation continue
to play key roles throughout the purchase process. When it comes to
securing buy-in across the committee, 68% of respondents agree that
this is easier when all stakeholders are aware of a brand. Further,
74% of ITDMs are more likely to consume content from trusted
brands, and 63% are more likely to trust information recommended
from a peer. Finally, credibility is cited as the top value measure
(41%) for tech content sites, and 72% agree that vendor reputation
is one of the top factors they consider when making purchase
decisions.
However, IT buyers are willing to
consider new vendors if they meet certain criteria. Of the 48% of
ITDMs that say they’ll be seeking new vendors this year, most cite
innovation (39%), business need (34%), and competitive pricing
(29%) as catalyzing their search. For new vendors looking to break
into the running, IT buyers say that clarity of information (35%)
and easily searchable, accessible information (34%) are the top
ways they can provide value during the content consumption
stages.
Generational preferences aside,
video content and third-party information sources align the full
committee As buying committees continue to expand,
reaching an average of 28 members in 2024, up from 25 last year and
20 in 2022, and with executive leadership becoming increasingly
involved in the decision-making process, it's clear that vendors
face the challenge of engaging with a diverse array of stakeholders
across what is now a 6.1-month purchase journey. To add to this
task, ITDMs are consuming an average of 7 pieces of content each
throughout the entire purchase process.
To navigate these evolving dynamics,
businesses must prioritize identifying their Ideal Customer Profile
(ICP) and addressing internal barriers to purchase, ensuring that
key stakeholders are equipped with the necessary knowledge to make
informed decisions. As 41% of ITDMs anticipate internal skill
shortages as a potential hurdle to tech acquisitions in the coming
year, proactive education and strategic alignment will be essential
in overcoming these challenges and driving successful
outcomes.
Despite these complexities, one
consistent strategy emerges: video content remains highly
effective, with a staggering 95% of IT decision-makers (consistent
across all generations) relying on technology-related videos for
business insights.
Finally, buyers ranked the most
helpful information sources throughout the decision-making process,
with analyst firms topping the list, followed by technology content
sites. In-person vendor meetings and third-party market research
were both rated as the third-most helpful. In today's landscape,
neutral, information-rich content is reigning supreme, helping
align buyers across the committee through their decision-making
journey with clarity and authenticity.
##
About the 2024 Role & Influence
of the Technology Decision-Maker Study
Foundry’s 2024 Role and Influence of the Technology
Decision-Maker research was conducted online among the audiences of
Foundry’s B2B brands (CIO, Computerworld, CSO, InfoWorld, and
Network World) representing IT decision-makers involved in the
technology purchase process for their organization. Results in this
study are based on 938 respondents, all involved in the purchase
process for major IT or security products and services, to the
30-question survey across multiple industries and
countries.
About Foundry, an IDG
company
Foundry has played a key role in every
major milestone, announcement, and development in modern technology
since 1964. We engage and activate the world’s most influential
tech buyers and early adopters via the award-winning journalism and
trusted media brands they’ve turned to for decades. Our integrated
ecosystem of owned and operated editorial sites, awards, events,
and tech communities is engineered to enable global audience
activation through innovative marketing campaigns. Backed by robust
audience insights and data from across our network, Foundry sets
the standard for delivering business results to help companies
grow. With 38 offices in markets around the globe, Foundry is
a wholly owned subsidiary of International Data Group, Inc. (IDG),
the world's leading tech media, data, research and marketing
services company. To learn more, visit
foundryco.com.
Rachael Ferranti
VP, Corporate Marketing
Foundry
rachael.ferranti@foundryco.com