AZoNetwork has published its scientific purchasing report for 2024, detailing the main factors affecting purchasing decisions this year and offering advice for improved sales. The report collates the responses of 145 participants when asked about their most recent scientific purchasing experience. Over half of respondents work for small and medium enterprises (SMEs) / small and medium businesses (SMBs), with nearly 40% working for a company with an annual turnover of less than $5 million.
We’d like to thank Rolf Easto at AZoNetwork for giving us permission to share the report findings. This blog summarises the main scientific purchasing trends for 2024 and highlights how they can be used to your advantage.
Purchasing trends
Laboratory equipment and analysis equipment dominated scientific sales in 2024, but what else can we learn about purchasing in the scientific market?
- Expensive purchases take time: 85% of product purchases priced at under $50,000 took less than three months to complete, while all purchases completed in 13 months or more were worth over $250,001.
- Carefully consider whether to display pricing: Product cost is a key factor in purchasing decisions. Vendors often don’t display pricing to ensure decision makers select a product based on suitability rather than price. As such, only 30% of products costing over $50,000 had pricing available.
- Purchasing teams are often small: 53% of purchasing teams consist of less than three people, although it must be noted that companies with larger revenues enlist more decision makers.
Source: AZoNetwork
Purchasing channels
Some sales channels are more successful than others in 2024. AZo’s report ranks the most influential:
- Manufacturer’s website: The greatest influence on purchasing decisions is the manufacturer’s website, with 54% of respondents stating that it had a strong influence.
- Search engines and artificial intelligence (AI): 32% of people reported that search engine results have a strong influence on decision making, highlighting the importance of robust search engine optimisation (SEO) strategies. Furthermore, over half said that they used AI to find information.
- Sales representatives: The influence of sales reps has grown from 57% in 2023 to 72% in 2024. However, respondents did feedback that sales reps are often more focused on completing the sale than providing pre- and post-sale support.
- Online publications: Nearly 70% of participants said that online publications had a strong influence on scientific purchases, making establishing a media presence a top priority.
Source: AZoNetwork
Choosing a vendor
Understanding how and why customers choose particular vendors can help to implement strategies to stand out from competitors. AZo’s report highlights that of 145 participants:
- 52% had already identified a vendor before reaching out
- 51% had worked with their chosen vendor previously
- 82% offered repeat business to a vendor due to a positive previous experience
- 74% chose a vendor that offered more useful content than its competitors.
Content creation
So, how can you create useful and engaging content that will help you stand out from competitors and complete sales? Successful content could include:
- Product pages: AZo’s report reveals that during the purchasing process respondents engage most with product pages out of all content forms. Optimizing these pages is therefore worth the time and effort.
- Video tutorials: After product pages, tutorials were also seen to positively impact purchasing decisions. Top tips for video creation include developing an outline for your video, filming each step separately, and editing carefully.
- Technical written content: Respondents explained that both app notes and whitepapers often informed purchasing decisions. It is important to ensure that such content links to other relevant materials, such as videos, articles and customer testimonials.
- Tradeshows: Despite the changes brought about by the COVID-19 pandemic, tradeshows have not lost their influence. In fact, 75% of respondents have interacted with a vendor at a tradeshow. The same percentage said that interactive content and product demos attracted them to certain booths, highlighting the need for valuable tradeshow offerings.
- Email marketing: Respondents remarked that during the sales process they are most receptive to communication via email, with 90% choosing email as their preferred method of contact. Email marketing campaigns can be a crucial component of a successful sales strategy.
Source: AZoNetwork
Learn more about generating quality b2b leads in our previous blog.
Need support?
At The Scott Partnership, we develop effective marketing content for clients in the science, industrial or technology industry – see a complete list of our services here. We work alongside some of the largest global scientific companies, with 75% of our customers located outside the UK. Our teams have extensive experience in supporting the scientific supply chain. Contact us with no obligation to pick our brains.
AZoNetwork is a multimedia publication, comprising a range of industry specific sites, that tells science, technology and medical stories to people who can make a difference. It operates a highly effective Scientific Marketing Platform, offering everything from content creation to analytics. Read AZo’s scientific purchasing report for 2024 in full here.
