Improving the buying process in corporate learning – our latest column for Training Journal

Martin’s latest column for Training Journal looks at whether there is a better way for corporate learning buyers and vendors to do business. It is prompted by the ongoing challenges of trying to navigate a noisy and competitive market. Here are some key takeaways:

The market is crowded and noisy
There are more than 400 vendors in the learning technology market, according to RedThreadResearch. This abundance of buying choices has made it challenging for corporate buyers to make informed decisions. According to Fosway Group, less than 50% of buyers are satisfied with their learning technology choices, making the buying process a risky business for many.

The buying process is a challenge – for everyone
Both buyers and vendors face challenges in the purchasing process. Vendors struggle to engage buyers effectively, often focusing on features rather than addressing specific challenges. Procurement processes can be overly complex, excluding smaller vendors despite their potential for innovation. Noise in the market, driven by extensive content and the adoption of trendy labels, further complicates the decision-making process for buyers.

Vendors must focus on value and impact
The current trend of marketing generating excessive content and vendors adopting popular labels without true reflection hinders buyers’ ability to identify suitable vendors. To help overcome this, vendors must refine their marketing strategies to highlight their unique strengths and create meaningful signals for potential buyers.

Picture credit: Jenna Hamra