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We made the decision to develop core expertise in B2B markets because we felt there was an opportunity to deliver value by understanding more about the market itself. Complex B2B purchases represent the ultimate marketing challenge. They're long, research intensive and involve a number of people.
B2B marketers can become substantially more effective if they have a better understanding of how businesses make the decision to buy in the new digital marketplace. When do they use search? Who makes the initial contact with the vendor? What influences the buyer to pick one vendor over another? How do online and offline factors impact buying decisions? As with much of our research, we didn't find ready answers to our questions, so we set out to answer them ourselves.
In 2004, and again in 2007, we did an online survey with thousands of B2B buyers to try to get the answers to these questions. If you're in the B2B marketplace, you've seen the results quoted everywhere. But we didn't stop there.
In 2008, we felt there was still a huge gap in understanding how B2B buying decisions are made. As much as we tried to map behavior against accepted models, there were several areas where the real world didn't seem to fit with the ideal one. We launched the BuyerSphere Project, a massive research undertaking designed to help us truly understand what was happening out there. The result was a paradigm shift of significant magnitude, shared in a series of webinars, 5 whitepapers and a 200 page book.
We created The Buyersphere Project because we wanted to help our clients better understand the digital marketplace. And it's worked. The findings of the BuyerSphere are currently being imbedded in our approach to search, the conversations we're having with clients and our future growth strategies as part of Mediative. Increasingly, a big part of our job is helping our clients understand what the potential of the digital marketplace is and to move there before their competition does.