Role & Influence of the Technology Decision-Maker Study 2022
Fueled by the necessity presented due to the pandemic, organizations continue to seek out and adopt new technologies. Among many things, these new tools and solutions are powering customer interactions, automating business processes, and enabling a hybrid work environment. Depending on the technology being purchased, executives rely on specific information sources and individuals to help them navigate the buyer’s journey.
Cue Foundry’s 2022 Role & Influence of the Technology Decision-Maker Research. This study provides insight into the progression of technology in business, as well as an in-depth analysis of who is involved in the IT purchase process and the information sources they rely on during each stage of the process. New to this year’s study, the research looks at how IT budgets will be allocated towards software, hardware, and services over the next 12 months and how brand awareness influences a tech buyer’s decision to interact with specific forms of content.
This global research of more than 600 technology decision-makers is a valuable resource for tech vendors to understand the decisions made around their products and services to gain an advantage in this competitive landscape. To assist technology marketers as they plan out their strategies for the upcoming year, we have outlined a handful of key findings below.
- Technology budgets are expected to increase (51%) or remain stable (39%) over the next 12 months, with software seeing the greatest allocation of the budget (35%).
- Existing vendors do not always have an edge, as 45% of tech purchases are expected to be made from a new vendor, with the main reason to seek a new vendor being because their current product or service no longer meets their business need (44%).
- The average number of individuals who have influence over the tech purchase process remains steady at 20 people – 10 IT and 10 LOB. Again, this varies by the technology being purchased. On average, there are 24 individuals involved in cloud purchases (13 IT and 11 LOB), but only 16 in desktop/laptop purchases (7 IT and 9 LOB).
- During the purchase process, tech buyers rely on technology content sites, white papers, webcasts/webinars and technology vendors via phone, email or video conference. The sources relied upon also vary depending on which stage of the purchase process ITDMs are in.
- In 2022, there are plans for in-person work related events – 57% of IT decision-makers have plans to attend an in-person work related event over the next 12 months (23% are not sure and 21% say no). This increases slightly for executive IT (60%) and decreases by level (54% IT mgmt. and 49% IT pro).
The findings in this report solidify the need that tech buyers have for consistent, valuable, and trustworthy vendor relationships. These individuals are tasked with researching, evaluating, and implementing new technologies while maintaining status-quo tasks. To do so, they seek reliable information sources and insight during each stage of the process to make sound purchase decisions.
View the sample slides below for additional insight and download the full report to better understand and engage with tech buyers. To request a meeting with a Foundry sales executive to walk through the full study, please complete the form at the right.