WTF Is a Decisioning Platform?
100% of B2B tech buyers want to self-serve, meaning they expect to find user feedback, specs, pricing, and product demos without having to talk to a salesperson. They want to be engaged on their terms. So to give buyers what they want and to make it easier for vendors to meet buyers where they are, we’re also making a bold shift—we are no longer simply a review site. TrustRadius is pioneering the ultimate B2B technology decisioning platform.
What does that mean for everyone using our site, insights, and services? It means better user experiences, more transparent information, and more self-serve capabilities that make the selling and purchasing process easier for all.
So you understand the positive impacts this can have on your business, let’s run through WTF a ”decisioning platform” is, why it’s important in today’s B2B marketplace, and how we help buyers make confident technology decisions while enabling vendors to connect with their target audience more effectively.
What is a B2B technology decisioning platform?
A B2B technology decisioning platform provides buyers with access to comprehensive, readily available, transparent product information to assess so they can find the right technology for their needs. Having all of those trusted resources in one place and in a self-serve manner streamlines the decisioning process. B2B technology buyers can confidently make decisions and vendors are empowered to tell their unique stories, engage high-intent buyers, and gain customer insights.
According to our 2022 B2B Buying Disconnect Report: The Age of the Self-Serve Buyer, the top three things buyers want vendors to provide as self-serve options are:
- Software pricing (71%)
- Demos or free trials (70%)
- Customer reviews (35%)
That’s exactly what the TrustRadius decisioning platform provides—plus so much more.
Ready for more vetted, comprehensive product information?
We’ve been busy with significant updates and additions to our offerings for buyers and vendors alike. Our goal is to enhance buyer enablement with the addition of pricing on product profile pages, enhanced product comparison pages, interactive demos, security documentation, and buyer research boards.
According to our 2022 report, 81% of buyers want to find pricing information on their own. So we added pricing information to 28,000 product profile pages across our site.
The vast majority of buyers (81%!) want to find pricing information on their own. @TrustRadius #B2BDisconnect
The results? Within one year, organic search traffic to TrustRadius product profile pages with pricing listed increased 288%, outranking traffic to traditional review sites. More traffic to these pages also meant vendors saw a 147% increase in referral traffic from TrustRadius and more downstream intent signals from in-market buyers. Moral of the story, if you give buyers what they want up front, they will want to interact with you more.
“We introduced pricing on product profile pages in June 2021. Within a year we saw a 288% increase in traffic to our pricing pages. In November 2022, outranking major review sites, TrustRadius yielded the highest referral traffic from organic search results with buyers searching for product pricing. This is a clear signal that we are helping buyers make informed buying decisions,” said Mike Galyen, Chief Product Officer, TrustRadius.
Buyer research boards
The newest addition to date is buyer research boards. Recently released, this feature allows buyers to address the highly unstructured process of collaborating across the buying committee. No longer are technology decisions coming from the top down. Now, 30% of buyers say that collaboration among decision makers has increased since the pandemic. To streamline that process we introduced research boards so buyers can enter product requirements and get suggested alternatives that meet their needs. The entire buying committee can evaluate alternatives and stack rank their technology shortlists in a cohesive and shareable dashboard.
They can create a comparison list of products, which include the company and product, the product’s trScore, the buyer’s score and evaluation for the product, and a comparison feature to see two or more products side-by-side. Buyer research boards enable buyers to make informed decisions across the buying committee all in one place.
As buyers conduct their research and come to a technology decision on TrustRadius, vendors will be able to access these new buyer insights. For example, they will be able to know if they made a buyer’s shortlist, which features and/or attributes they are being evaluated on, and who is on the buying committee—all important insights to increase buyer intelligence and engage effectively.
Readily available interactive demos
Since 40% of buyers are less likely to buy if they have to contact sales for a demo or free trial, we set out to find partners who provide interactive demos in a self-serve fashion. Free interactive demos from Demostack, Navattic, ScreenSpace, Storylane, Tourial, and Walnut.io are now available for vendors to add on their TrustRadius product pages. Buyers can get the real-world product experience they want at their fingertips.
Easy-to-access security documentation
Knowing a company’s security posture up front makes the buying process much faster. Cumbersome security checks are a thing of the past. Through a partnership with Whistic, security documentation is now easy for buyers to access and evaluate, all from a product profile on TrustRadius.
Enhanced product comparison features
Buyers creating their shortlists can easily compare products based on customer feedback in both qualitative and quantitative formats. Feature scorecards allow buyers to compare apples to apples and make sure the product they are researching actually meets their needs. Buyers can also evaluate a product based on attributes like configurability, ease of use, and support.
A new and improved buying experience
With buying committees currently using over 14 different collaboration methods to make a decision, our platform simplifies the process. Buyers can find and rank only the products that meet specific business requirements and easily share trusted, comprehensive product information with all stakeholders. Buyers can make confident technology decisions faster, decreasing their time to value. Who wouldn’t want that?
What does a B2B technology decisioning platform do for vendors?
Because buyers are on TrustRadius making decisions, technology providers are able to connect with their target audience more effectively, increasing brand preference and eliminating waste and ineffective go-to-market strategies. Technology providers can realize the return on their investment on and off TrustRadius with user-generated content, buyer insights, and downstream intent data.
Companies like Planful, a financial planning software, utilize user-generated content combined with downstream intent data to reach, target, and engage with in-market buyers at various stages of the buying journey, increasing “their pipeline conversion by 60% year over year,” said Rowan Tonkin, CMO, Planful.
Win over today’s B2B tech buyer
Get started for free. You can access a new and improved vendor portal to make your product profile the gold standard. The recently updated vendor portal provides:
- A streamlined log in
- An improved and customizable dashboard that shows key metrics for your products and an activity feed with relevant updates
- Program health at-a-glance showing key performance data
- An awards hub so you can track your progress to your next award
- An integrations hub so you can easily connect with and grow your audience
- Metrics overviews that monitor trends, track scores, and help you see where action is needed
Those are the most recent updates—more are always in the works!
A market research-driven approach
We make investments to make sure our platform is governed by data and transparency. We are dedicated to bringing the latest tech buying trends to the forefront and helping our vendors continue winning. Each year, we gather our research and produce reports like the 2022 B2B Buying Disconnect, market updates—and our latest release, What’s In & What’s Out: A GTM Playbook for 2023.
The time to adapt is now
As the B2B review marketplace continues to evolve, TrustRadius is adapting and repositioning itself to best support buyers, and as a result, creating an irreplaceable go-to-market solution for vendors. As the decisioning platform, we enable businesses to make informed decisions about their technology investments, and we help vendors connect with their intended target audience.
“In 2023, we are charging ahead with uncompromising dedication to the evolving needs of buyers, as we have from day one. As a steward of buyer preference and the most-trusted B2B technology decisioning platform, we’ll continue to support vendors as one of their strongest marketing channels,” said Vinay Bhagat, Founder & CEO, TrustRadius.
With data-driven insights from real, unbiased reviews and interactive demos, pricing, and security documentation available at the push of a button, plus having an easy way to compare products, companies can confidently research the right tech solutions for their needs.
As a technology provider, if you’re looking to get ahead of the curve in your industry, it’s time to take advantage of TrustRadius’ decisioning platform for B2B technology buyers. We have all of the necessary tools and resources you and your buyers need.
Start today by learning the current landscape of buyer expectations and strategies for adapting in What’s In & What’s Out: A GTM Playbook for 2023.