Study: Buyers rely on B-to-B media
More than any other media source, executives rely on business-to-business media for information to influence or support their purchase decisions. That's according to the Business-to-Business Media Study prepared for American Business Media by Yankelovich Partners & Harris Interactive.
Down economy or not, the study shows that executives recognize the need to keep abreast of new products and services and the need to continue to invest to remain competitive.
Conducted among 505 key executives at U.S. companies with at least $5 million in annual sales, the Business-to-Business Media Study, released in October 2001, revealed the reach and power of business media across all industry sectors.
Of the executives interviewed, 83% had read at least one b-to-b magazine during the past month; the average executive read 4.6 titles per month. Sixty-eight percent visited at lease one b-to-b Web site during the past month, and 76% had attended at least one b-to-b trade show during the past year.
On a top-of-mind (unaided) basis, executives cited b-to-b magazines and Web sites as the top two sources they relied on for information and insight about how to build their business and do their job better.
Ninety-seven percent of executives agreed with the statement, "to stay on top of developments in your field, it's important to seed information from multiple media sources like b-to-b magazines, Web sites and trade shows."
More than 85% said they felt more aware, more informed and more likely to consider purchasing a company's products or services if they saw a company or brand in multiple media.
Advertising in a down economy clearly creates a competitive advantage, according to those surveyed. Eighty-nine percent of executives agreed that when they saw a company advertising in a down economy, it made them feel more positive about the company's commitment to its products and services. Eighty-six percent agreed that such advertising kept those companies top of mind when purchase decisions were made.
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