Annex Business Media

As we launch our annual food drive this morning at Annex Business Media, I thought I'd share a photo taken last Tuesday at the volunteer food bank in my tiny Kawarthas town. Cars were already lined up around the block two hours before the food baskets were to be given out. So yes, there is need. We like to get a bit competitive with our food drive, maybe even a little trash talk Michelle Snyder, CHRL, with families in Toronto, Norfolk County and even little Lakefield the real winners. I'm not saying my team will win, but it sure won't come in behind any of my colleagues' teams. How are your teams giving back this season?

Sales enablement company 6Sense gathered info from over 2,500 companies that had recently made significant B2B purchases to see how the buying process continues to evolve. Some of the findings of the 65-page report echo other studies of the past five years, but others paint a picture of a buying journey that may surprise many Annex Business Media marketing partners. Confirming what we know? -             B2B buyers are more than 70% through the purchase process prior to engaging with vendors. -             Buyers already have a short list of roughly five vendors prior to reaching out. -             Purchase cycle times average almost a year. -             More than 10 people can make up the typical buying team, depending on company size and complexity, among other factors. -             The C-suite is involved less than 50% of the time. Changing our perspective? -             Buyers initiate first contact 83% of the time. Moreover, vendors that attempt contact prior to buyers being “ready” do not fare well. As a result, even the best lead gen program is counter-productive without a broader reach. -             Detailed purchase requirements are set ahead of the First Point of Contact (FPOC) 85% of the time. -             Buyers already have a preferred vendor at FPOC more than 80% of the time. In fact, 85% of the time that preferred vendor is contacted first, further stacking the deck. -             Previous experience with a vendor is critical for success and can encompass more than having been a client before. It’s all the interactions with that brand leading up to selection. The authors lay out a two-phase process that differs from the classic funnel. The first “Selection Phase,” which comprises 70% of the process, is where the shortlists and favourites are built and requirements finalized. If a vendor is not on the radar in this phase, selling is difficult. Phase 2, or the “Validation Phase,” involves at most five vendors with demos and meetings, but the preferred candidate likely already exists, and the process can skew to rationalization. That doesn’t mean B2B vendors are powerless to affect the outcomes. It just means success requires consistently casting a wide net. Chasing Market Qualified Leads (MQLs) is only part of the equation, and often a frustrating one for sales. Here is the authors’ suggestion in their own words: “This research highlights the need for organizations to understand their buyers’ needs, and to create content and experiences that answer every critical buying group question, and which buying group members can consume on their own.” From our own research, the format and channel each buying team member prefers will depend on their age and seniority, with younger more junior members preferring webinars and virtual events that can be accessed without budgets, while older members may prefer in-person events or peer roundtables. B2B buying, like life, is messy and complicated.

At Annex Business Media, it's not all manure. Our more fortunate brand teams enjoy the waft of fresh pizza at their events. On Oct. 21 the Canadian Pizza team hosted 19 innovative chefs making wildly creative pizzas at its annual Pizza Summit and Chef of the Year Competition held at Faema Canada in Toronto. About 150 members of the pizza industry came out for the annual competition and trade show. The competition, which will mark its 20th anniversary in 2025, will host three editions in 2025: Montreal, Calgary, and Toronto. There is an appetite for these focused events from pizzerias across Canada, and the brand continues to grow steadily. #smellslikemoney

What do the next three years hold for Annex Business Media, where should we direct our energy, what should we stop doing, and what of all that do we tackle in 2025? That’s what 16 of us gathered for 1.5 days to find out. I like what I heard. #b2bmarketing

Today is World Mental Health Day. If I can make one plea of my fellow CEOs, PLEASE invest in mental health training for your entire staff, or at the very least your front-line managers and leadership. Annex Business Media has had success with The Working Mind from The Mental Health Commission of Canada, but there are other platforms available. You may find it odd that companies are left with this burden, but we offer (or should) a raft of other health benefits for our people, so why is this different? #MentalHealthisHealth

Podcast Alert: This is Annex presents Privacy & Marketing. Play or Subscribe: https://lnkd.in/g77-KZ28 Join Stacy Bradshaw and Kyle Shay (me), both of Annex Business Media, as we talk #privacy and #marketing with Amanda Landsaw, of Endeavor Business Media and how they go hand in hand and that's a good thing! My favourite line "from step one to letter z - Amanda" really hits home all the work that goes into making sure your audience list is ready, and willing, to receive marketing messages, content and opportunities that is catered for their needs. This may be some inside baseball, however, its a must-listen for execs, directors, managers and owner/operators out there in the media business managing any kind of sales, audience or marketing departments. #B2Bmarketing #B2C #media #podcast #thisisannex #greatcontentbetterpeople