One of the most profound developments in B2B marketing of the past two decades has been the emergence of empowered and independent buyers. When I launched this blog in 2010, my second post was about “The Age of the Self-Directed Buyer.”
The explosive proliferation of readily available information has been the driving force behind this development. Because of easy access to a wealth of information about almost every conceivable topic, business decision-makers now believe they can find whatever information they want or need, whenever they want or need it, on their terms.
Information abundance has altered many aspects of how B2B buying decisions are made, and B2B marketers have done a reasonably good job of adapting to most of those changes. There is, however, one impact of information abundance that has been (and still is) underappreciated.
The Rise of Opportunistic Learning
Most models of the B2B buying process assume the process begins when a company’s leaders or managers recognize a need or a problem and decide to address the issue in some way.
These “buyers” then gather information about the need or problem and possible solutions, evaluate the available options, and may or may not decide to purchase a product or service to address the situation.
So, the conventional view of B2B buying behavior is that most information gathering occurs after an intentional buying process has started. While this view may still be accurate in a strictly quantitative sense, it misses an important aspect of B2B buying.
Information is now so abundant and readily available that business people are routinely consuming information about business issues long before they have formed anything close to “buying intent,” and long before they have started an intentional buying process.
I call this type of information-gathering opportunistic learning, and it occurs because humans are naturally programmed to seek rewards. We all have a mental radar system that constantly scans our environment to identify reward opportunities.
In a business setting, our radar system is always scanning our environment to identify information that may help us improve our company’s performance and/or advance our professional careers.
The growth of opportunistic learning has important implications for B2B marketing, but some marketers haven’t fully appreciated its significance.
Most B2B marketing tactics and programs are designed to identify and reach people who are ready to begin a buying process or to encourage those already involved in a buying process to move toward a buying decision. At any time, however, most of the people affiliated with potential customers are more likely to be opportunistic learners than true buyers.
Engaging with opportunistic learners is important because the impressions they form during opportunistic learning remain influential when they become involved in a buying process. Therefore, if marketers can create and sustain positive relationships with opportunistic learners, their company will have a competitive advantage when those opportunistic learners turn into buyers.
How to Successfully Engage with Opportunistic Learners
Antonia Wade, the Global Chief Marketing Officer of PwC, has offered a compelling perspective on how B2B marketers can successfully engage with opportunistic learners.
In her recent book, Transforming the B2B Buyer Journey (Kogan Page Limited, 2023), Ms. Wade proposes a new B2B buyer journey “framework” that contains five phases – Horizon Scanner, Explorer, Hunter, Active Buyer, and Client. Her names for these phases symbolize the buyer’s needs and thought processes that are important during each journey phase.
Ms. Wade’s Horizon Scanner phase is similar in several ways to what I have called opportunistic learning. In her book, she writes that Horizon Scanners are people in strategic roles who are always assessing how big market trends and innovation will impact their business. Horizon Scanners, Wade writes, “. . . aren’t looking for answers and they’re certainly not looking for a sales message; they’re looking for ideas.”
Ms. Wade makes two major points about successfully engaging Horizon Scanners. First, she argues that high-quality thought leadership content is critically important. Wade contends that compelling thought leadership is what earns your company a seat at the table in the later stages of the buying process.
Second, and equally important, Ms. Wade argues that most Horizon Scanners tend to seek information from respected and trusted sources. Therefore, she contends, your thought leadership content needs to be available in channels you don’t own, such as third-party publications or events. This also means, she argues, that public relations plays an important role in reaching Horizon Scanners.
The Takeaway
Whether you call these individuals “Horizon Scanners” or “opportunistic learners,” it’s vital to remember they are not yet “buyers,” and they shouldn’t be treated like decision-makers who are engaged in an intentional buying process. Your goal with these individuals is to position your company as an expert and a reliable authority, while also making your company memorable.
Illustration courtesy of Naval Surface Warriors via Flickr (CC).
