R_IF_Security Purchase Process.pdf
- 1. To learn more about the security purchase process and how Foundry can help you identify content gaps to help you better engage with your audience, contact your Foundry sales representative. Understanding the security purchase process Decision-making within the security purchase process 1 Source: Foundry Customer Engagement, 2022; Foundry Role & Influence of the Technology Decision-Maker, 2022; Foundry Security Priorities, 2022 Tech marketers have a little more work to do… 59% of security-specific downloaded content has provided value to ITDMs in the past 12 months 52% of IT decision-makers expect their security budget to increase in the next 12 months Post sales engagement IT/networking management 35% CIO or top IT exec 33% IT/networking staff 29% Security purchase types in the next 6–12 months Upgrade 48% Additional purchase 29% Replacement 23% $65M Determine the business need CIO or top IT executive 53% CEO 52% COO 31% Determine technical requirements CIO or top IT executive 49% IT/networking staff 43% IT/networking management 42% Evaluate products and services IT/networking management 45% IT/networking staff 44% CIO or top IT executive 43% Authorize or approve purchase of products and services CEO 46% CIO or top IT executive 41% CFO 35% 5.9 months 6 pieces of content is the average number that security-focused decision-makers download to aid them throughout the purchase process Most relied-upon pieces of content • Technology news • Product testing/ reviews/opinions • Product demo/ product literature Top sources of information • Tech content sites • White papers • Tech vendors (via vendor website) Security buyers prefer custom tailored content Based on industry 56% Based on technology platform(s) already installed at their organization 48% Based on company size 40% Current average security budget (all products, systems, services, and staff) 19 2 3 Sell internally CIO or top IT executive 46% IT/networking management 35% CSO/CISO or top security executive 27% 5 Recommend or select vendors for purchase CIO or top IT executive 48% IT/networking management 42% IT/networking staff 36% 4 6 7 Who’s involved at each stage of the purchase process? 65% of ITDMs agree that when a new CIO or IT leader comes on board, they often see an influx of spending to bring on new tools 51% of ITDMs will seek a new vendor when purchasing security solutions 41% said this is because their current product or service no longer meets their business need The content that’s educating security decision-makers What’s the average security buying cycle? What’s the average number of people involved in the security purchase process? IT 10 LOB 9 78%of ITDMs agree they spend more time reading content from known and trusted brands because they’re confident their time will be well spent