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

The 2020 B2B Buying Disconnect highlights the findings from the 4th annual report by TrustRadius. Designed to explore the evolving relationship between technology buyers and vendors. This year TrustRadius surveyed a total of 1.5K respondents. 1,036 technology buyers and 449 technology vendors took aligning surveys.

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The role of millennials in B2B buying decisions, and their distinctive attitudes and behaviors as business buyers have become major topics of interest for B2B marketing and sales professionals over the past five years. Since 2014, numerous research studies – including studies by the IBM Institute for Business Value, Google/Millward Brown Digital, Merit, and Heinz Marketing/SnapApp – have focused specifically on this subject.

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“Share your toys” was a phrase that many of us heard from adults growing up. For DevOps teams around the country, that sentiment never really dies. We spoke with DevOps experts from Austin’s Iodine Software and TrustRadius, who shared the importance of working within key site reliability engineering team principles — like making data-based decisions — and the benefits of incorporating DevOps into departments across the business.

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Facebook CEO Mark Zuckerberg has now found himself answering questions about user privacy as part of a congressional hearing more than once, including this week. Alphabet, Twitter, and Amazon executives have also sat in the same hot seat. In that same vein, consumers are largely on board with the regulatory scrutiny of so-called big tech. A survey performed by Trust Radius earlier this year found that only 29% of the respondents trusted Google. That’s far better than Facebook’s rating of a mere 5%. Apple and Amazon earned the trust of 27% and 25%, respectively.

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Omnichannel customer engagement and customer review management are table stakes for B2C brands that want to win and keep customers. Now they’re becoming important for B2B companies, too. That’s because B2B decision-makers are bringing purchasing habits from their consumer lives to work—and they’re changing the way B2B Marketing works in the process.

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Customer reviews play a key role in helping people decide what to buy on consumer-focused marketplaces like Amazon or app stores, and the same tendency exists in the B2B world, where nearly half a trillion dollars is spent annually on software and IT purchases. TrustRadius, one of the startups capitalising on the latter trend, with total feedback sessions today standing at close to 190,000 reviews, has now picked up a Series C of $12.5 million led by Next Coast Ventures, with existing investors Mayfield Fund and LiveOak Ventures also participating.

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“I founded TrustRadius because I experienced first hand the consequences of making the wrong technology selection, and witnessed how difficult it was for our team to conduct effective due diligence with resources like analyst reports and vendor-driven references and case studies,” Vinay Bhagat, founder and chief executive officer of TrustRadius said in a news release.

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TrustRadius takes its core values seriously. The review site for B2B technology stands by the acronym T.R.U.T.H. — transparent, respectful, unstoppable, team player and human — which are the core pillars of the company’s foundation. Because the company stands by these values, employees can rely on frequent communications for leadership and internal policies based on employee feedback.

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Last month, TrustRadius published the findings of its third annual B2B buying disconnect research. The 2019 B2B Buying Disconnect report is based on a survey of 712 individuals who were involved in a significant purchase of business technology during the preceding year, and on a survey of 229 individuals who worked for technology vendors in a marketing or sales capacity.

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There is a widening trust gap in the B2B marketplace that should ring alarm bells for CMOs. In a recent study from TrustRadius, 85% of B2B vendors said they were open and honest about their product during the sales process. Yet only 36% of B2B buyers believe they got the full picture from their vendor. That is a problem because buyers are twice as likely to be influenced by vendors they believe are transparent and trustworthy.

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