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The latest news about TrustRadius and the B2B tech buyer's journey

International Data Corporation (IDC), the premier global provider of market intelligence and advisory services, today announced a strategic partnership with TrustRadius, the most trusted customer voice and insights platform, to deliver a new webinar series, Crisis through Recovery. Through this series and new partnership, attendees will learn to effectively navigate the next phase of this pandemic and successfully lead their IT organization to recovery.

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Millions have lost jobs due to COVID-19 around the world, but in the technology industry women seem to be taking a bigger hit. A survey of over 700 tech professionals conducted by software review company TrustRadius found women were more likely to be laid off and felt more pressure than men to be productive.

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TrustRadius published a survey indicating a sharp decrease in marketing technology software spending in the weeks after the surge of coronavirus cases. Demand Gen Report spoke with Vinay Bhagat, Founder and CEO of TrustRadius to discuss the research and to get a sense of how the COVID-19 crisis will impact marketing budgets over the course of the next year. While the initial statistics are grim, there is hope: Spending is projected to go back to previous levels by the spring of 2021.

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The COVID-19 pandemic has brought about abrupt changes to all of our lives, including nearly universal school closures, increased remote work policies, and a historic economic downturn. As a result, TrustRadius published an update to their initial Women in Tech report highlighting crucial data about how the arrival of the coronavirus in America has impacted women in tech.

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During the COVID-19 crisis, martech companies and B2B agencies have stepped up with software offerings, consulting services and resources available to B2B marketing and sales professionals during the crisis. TrustRadius, a peer review site for businesses, is offering 30 days of 100% free True Intent data for qualifying software vendors to help offset the challenges of the post-COVID-19 market.

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B2B companies tend to agree that the COVID-19 pandemic will lead them to cut or maintain their software budgets rather than boost spending, but many are also uncertain; much also depends on the type of software in question, according to recent research from TrustRadius. Some 31% of respondents say they expect to spend less on software overall because of COVID-19.

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The coronavirus pandemic has propelled digital transformation efforts among enterprises — but companies increasingly want to enact operational changes on limited budgets. Fewer companies expect to increase spending on such services as economic conditions have worsened: In mid-March, 40% of respondents who identified as B2B software buyers expected to spend more as a result of the coronavirus pandemic. By mid-April only 15% expected to do so, according to consecutive surveys conducted by TrustRadius.

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Many surveys are also predicting increased technology spending to support working from home. Forty percent of software buyers/users expect software spending to increase because of COVID-19, while only 18% expect declines according to a survey conducted by technology peer review site TrustRadius March 18 and 19. Junior-level employees were more likely to be positive on spending, while more seasoned respondents are more likely to have a wait-and-see outlook.

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This week, TrustRadius said it was “sobering” to see that an early April indication of a “software spending boom” had ended, after it resurveyed just a few weeks later. In order to acquire and maintain a flow of customers and users amid this period of thinning spend, leading tech companies are opening up financing programs, helping customers furnish themselves with the technology they need while conserving cash flow.

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The COVID-19 pandemic has driven big spikes in interest in telemedicine software, electronic signature tools, and Web conferencing platforms, according to recent research from TrustRadius. The report was based on an analysis of search-driven volume to the TrustRadius platform, which has more than 232,000 verified reviews of B2B technology products across a wide range of categories.

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Local businesses and their suppliers are going to be some of the hardest-hit by the outbreak of Covid-19. This has led to tech companies rolling out updates to help consumers stay informed, SEOs providing their tips on surviving what’s to come, tool providers offering special deals and free features to their customers, and community organizations rising up to support local businesses. TrustRadius has also offered a sobering report on the winners and losers in the software industry.

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Needless to say that the current COVID-19 crisis is in its full swing. While most businesses are suffering heavy losses, some sectors are thriving. According to survey data from TrustRadius, most tech buyers expect to spend more as a result of trying to adapt to the new measures and move to work remotely. B2B software sales are expected to increase. Ad spend is down across all channels, however, instead of stopping ad spend, marketers should refocus their efforts to more resilient channels such as social media, paid search, and email.

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As consumers have shifted how they shop and what they buy during the COVID-19 pandemic, business buyers are also altering their spend. An email survey conducted in mid-March by software reviews site TrustRadius asked software buyers worldwide about how they expect COVID-19 to impact their spending. Four in ten noted that they will spend more at least initially in order to make sure their employees can work from home with limited hiccups.

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67% of software buyers worldwide plan to increase spending on web conferencing software during the coronavirus pandemic, according to a TrustRadius survey from mid-April. The fact that Zoom’s DAU count has swelled by more than 100 million, despite its security and privacy issues, suggests the bulk of the growth comes from casual users seeking a convenient, free videoconferencing platform to communicate while under quarantine.

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What causes the gender pay gap? Men and women have different explanations. According to a survey of 738 tech professionals conducted in February by software review site TrustRadius, 45 percent more women than men in tech think that discrimination and bias are the cause of the pay disparity, while three times as many men as women blame a difference in job performance.

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TrustRadius recently published the 2020 Women in Tech Report in which men, women and non-binary respondents share their perspectives around gender dynamics in the workplace. Findings show that women are indeed feeling left out at work, whether it’s because they’re being paid less than their peer (or even less experienced) male colleagues or due to the overall office culture that favors men.

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When asked about managing teams in the tech industry, Jennifer Griffin (VP of Customer Success at TrustRadius) shared the following advice with Built in Austin: “Find a mentor or a sounding board. Sometimes you know exactly what you need to do, but having a sounding board can help you solidify your ideas or help you look at the issue from a different perspective.”

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