Business Motivators Survey, April 2008

1. When choosing business vendors or partners, how important is it for the company to have...

Very Important

Somewhat Important

Not Very Important

a good overall reputation?

93.4%

6.6%

0.0%

award-winning customer service?

49.5%

43.2%

7.3%

award-winning products/services?

39.0%

53.3%

7.6%

 

2. When choosing business partners or vendors, how important are... 

Very Important

Preferred But Not Required

Not Very Important

references and testimonials?

65.2%

33.3%

1.4%

case studies with proof of results?

41.5%

53.8%

4.7%

 

3. When choosing a business vendor or partner, do you ask for references?

Yes, usually

66.4%

Sometimes

27.1%

Not usually

6.5%

 

4. When choosing a business vendor or partner, do you ask for case studies with proof of results?


Yes, usually

30.8%

Sometimes

50.5%

Not usually

18.7%

 

5. Please rank in order the importance of these elements when choosing a business vendor or partner.

 

Most Important

Second

Third

Fourth

Least Important

Good Company Reputation

46.6%

23.3%

15.5%

9.2%

5.3%

Award-Winning Products/Services

7.8%

10.7%

25.2%

32.5%

23.8%

Award-Winning Customer Service

5.3%

22.8%

16.0%

30.1%

25.7%

Proven Results

39.2%

22.5%

20.1%

14.8%

3.3%

References

3.8%

20.5%

22.9%

12.9%

40.0%

Survey Reveals Key Motivators for Selecting Business Vendors & Partners
Porter Positioning Finds Reputation, Results & References Are Differentiators

RICHMOND, VA, April 15, 2008 – In the 2008 Key Motivators Business Survey, 93.4% of respondents report that a company’s reputation is “very important” when choosing a vendor or business partner, 65.2% cite references as “very important” and 41.5% say proof of results are “very important.”   Conducted by Porter Positioning this month, the survey of US business professionals was completed by 214 people in a variety of industries and professions.  Survey details are below.

Gaps Expose Opportunities
Surprisingly, while 95.3% of respondents say that proven results are “very important” or “preferred”, only 30.8% say they actually ask for proof of results.  Similarly, while 99.1% say references are “very important” or “preferred,” only 66.4% say they usually ask for references. 

“This gap represents a huge opportunity for companies in competitive markets,” said Emily Porter, Principal of Porter Positioning, which conducted the survey.  “But it also reveals that professionals can do more to ensure success with their vendors.

“Reputation, references and results are clear ways companies can differentiate themselves from competitors,” she said.  “Case studies and testimonials are powerful indicators of success that can make or break a decision when choosing a vendor.  Even if these items aren’t requested, companies should proactively provide them.  Case studies are particularly good, contextual multi-use vehicles, providing valuable proposal information, web content, and presentation substance.”

Porter also advocates companies to strive for industry awards and recognition.  “Awards for service, product excellence and innovation reinforce the overall brand and help inform individual choices,” she noted.  In fact, the survey showed that nearly half (49.8%) of respondents said award-winning customer service is “very important” and 38.8% said award-winning products and services are “very important.”

When asked to rank a list of the most important elements when choosing a vendor or partner:
• 46.6% say good company reputation is most important
• 39.2% say proven results are most important
• 7.8% say award-winning products and services are most important

About Porter Positioning
Porter Positioning offers flexible branding, communications, marketing and public relations services, from hands-on projects to integrated services.  With more than 20 years of experience with Fortune 100 companies, mid-sized business, non-profits and start-ups, Porter creates and implements fresh, inspired, results-oriented plans that command attention, build awareness, motivate action, deepen loyalty and deliver solid ROI.  For details, contact eporter@porterpositioning.com.