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Buyer behavior is constantly changing. Add a pandemic to the mix and, as we all learned, the changes gather speed. Not all pandemic-related changes have been good, for example the increased cyber security threats. But for B2B service and solutions providers, pandemic-induced changes in buyer behavior portend a bright future.
For the past few years, ITSMA has seen senior technology executives place more focus on an IT sourcing strategy that favors vendor consolidation and strategic partnerships. With COVID-19 and the need to accelerate digital transformation, these same companies have been seeking ways to get more mileage from their strategic partners. They expect their partners to help them do the usual: manage costs, improve efficiencies, mitigate risk, and access talent.
However, the usual is no longer enough.
Today, executives are turning to their strategic partners for innovation. In ITSMA’s most recent How Executives Engage Survey (2021, Wave 1), collaborative innovation tops the list of how solution providers earn executives’ confidence.
Three important buyer behavior changes demonstrate that more than ever, buyers are seeking opportunities for joint innovation with solution providers. Buyers today:
- Are more willing to share insights with solution providers about their company and business than they were prior to the pandemic
- Have a greater need to tap solution providers for new and innovative ideas than they did prior to the pandemic
- Are looking to collaborate with their solution providers for joint innovation more than they were prior to the pandemic
Buyers want help to innovate faster and better. They want access to proven creative processes and design thinking experts to help them think differently and spark new ideas. And the cherry on top? They are more willing to share insight into their businesses. The future is bright indeed.
In ITSMA’s most recent How Executives Engage Survey (2021, Wave 1), collaborative innovation tops the list of how solution providers earn executives’ confidence.