Buying is Strategic. Selling is tactical.
Purchasing your solution is relatively easy. The difficult part is making sure your solution integrates well with the buyers status quo, creating minimal disruption and cost. Otherwise the cost of failure is too high.
Our Assessment Report lays out what steps your recent buyers went through en route to making a buying decision that fit comfortably with their status quo. And because they’re recurrent and generic, these steps demonstrate a buying pattern that your reps can use to help prospective buyers navigate their own decision-making process.
When you use the Buying Decision Path that we’ve coded and follow the buying patterns that we’ve mapped in this report, your prospective buyers will understand how and when to buy, how to include your solution in their business, and how to address any issues that remain confused or unresolved.
Once you have led people through their Buying Decision, they will recognize all of the elements in their operation that must change and can fully scope out the criteria necessary to make a purchase.
Until your buyers walk through each stage of managing their unique change management issues, until everyone who touches the final solution agrees to a change, until the entire team is assembled and lends their voice to ideas, problems, solutions and fallout, they cannot buy regardless of how much they may need your solution.
This is the most problematic step in the Buying Decision Journey because anything new will cause some sort of disruption. Your solution might not integrate; staff must agree to use and get trained; familiar patterns and procedures will be scrapped for new routines, protocols and procedures; people fallout must be managed.
It’s not enough that you have the answers. Your clients must have the comprehensive understanding of their internal systems and how they need to be aligned behind change. They will not add anything new to their environment – even if they need it – if their internal processes and systems would face chaos once your solution is adopted.
- Ad blocking growth in the last 12 months 41% 41%
- Unread B2B emails 63% 63%
- Unread B2B marketing content 73% 73%
- Marketing leads that never convert to sales 79% 79%
For your clients, it’s imperative they maintain their status quo or they cannot get up day after day and run their business. Adding, choosing, buying anything new means change to the status quo and is always fraught with risks that are unknowable before a purchase is made. Indeed, a decision team will only buy if they’ve determined they cannot fix a problem themselves with known or familiar resources AND that a purchase will “cost” less than the cost of the disruption they’re facing in their status quo.
To adopt your solution, the buyer must be motivated to shift their status quo and able to get buy-in from any people, policies, rules, and politics that would be affected by the new procedures. By following the steps recent buyers took along their decision journey and knowing exactly what pushed them to continue driving their decision forward, your sellers can address the internal resistance areas, disparate voices and needs that would otherwise raise uncertainty and cause disruption.
Obviously, when it’s time to buy, buyers take very specific actions as they choose one solution over another, choices based on price, reputation/brand of the solution, decision-makers, etc. This is what buyers want to know when they seek the hows and whys and what ifs in relation to what they’ve discovered in their Buying Decision Path. Once they are clear about what their solution needs to contain, they will be ready to ask questions about product content they need answered. This is when your sales tools, presentation and content detail, features and functions explanations, finding optimal demographics etc. are vital.
INSIGHThought used buyer insights to spot a market shift and drive $2M in revenue.
A provider of ERP applications in the utility market space was struggling to gain the attention of buyers. Their product team had developed a suite of new application features that they believed would significantly change their competitive position in the marketplace but found no measurable jump in adoption.
Our buyer interviews revealed that senior managers at the utility companies had been blindsided by changes in state regulations that were recently reviewed and passed and were now totally focused on avoiding significant fines and penalties due to non-compliance. Our client tested the implications of these new regulations in a survey across their market and confirmed the cost impact that the new regulations would impose and the shift in buying behavior.
Our client responded by quickly developing a monitoring component to their application that they highlighted in a demand generation campaign aimed at helping utilities understand the cost implications of these new state regulatory changes. The campaign was incredibly successful generating over 20% response rate and closing 3 large deals exceeding $2M.
INSIGHThought used buyer insights to stop a competitor and prevent 60-75% discounting.
A provider of CRM software to the financial market was losing 80% of their deals to a single upstart competitor. The sales team was planning to discount by 60-75% to stop the bleeding and brunt the success of this competitor. They were going to win the battle but lose the war!
Our buyer interviews revealed that the competitor had tapped into the key capabilities that buyers were looking for (the same capabilities that our client provided but had considered unimportant) and were successfully positioning these capabilities as their strengths and our clients weaknesses. “I’m looking for the technical details that explain the capabilities of your CRM system said the buyer. I didn’t see any mention of them in your website or marketing materials.”
This executive then went on to describe the particular capabilities that he was looking for and the perceived limitations of our clients solution. Our client responded by revamping their website, content marketing and sales playbooks to address the capabilities and obstacles that were preventing buyers from choosing their solution. They have won 5 of the last 8 engagements.