Many companies are facing an uphill struggle to regain lost ground in respect of sales and profits as world markets slowly return to growth. But, which companies are best positioned to return to accelerate out of the recession? Not an easy matter to predict you would imagine, or maybe the answer is the extent to [...]
Two decades ago an advertising executive took a factory sign and turned it into one of the most globally recognised of marketing slogans. The slogan wasn’t even in English! It means ‘progress through technology’, but is more familiar to us all as ‘vorsprung der technic’ – the Audi trade mark. Progress through sales technology! A [...]
A long period of buoyant growth ended suddenly in 2008, resulting in a fundamental shake up of industries and economies worldwide.Thus it was that a golden age of corporate growth, confidence and ambition gave way to a period of retrenchment and uncertainty. Almost universally, organizational priorities have changed from growing sales to cutting costs. No where can the effects of this [...]
(a) Seniority Required When it comes to major buying decisions, managers are pulling rank. Senior managers are required to sign off on ever smaller purchases. They set the priorities and the budgets; if they can be sold on the business case then they have the power to ‘make it happen’. (a) The View At the [...]
The fact that decisions are being made at a higher level requires a totally different approach to selling. It can present many challenges for the salesperson, including access. Indeed, our experience of dozens of United Kingdom sales campaigns suggests it is 50% more difficult to access C level (CEO, CFO, or CTO) executives in major [...]
Buying Decisions Are Being Wider Buying decisions are being made wider, as well as higher in most organizations. Indeed, those buyers and sellers we talk to suggest that the numbers involved in major buying decisions has doubled in a decade. This has major implications for buyer and seller alike. Multifunctional buying teams are the order [...]
(a) ‘Playing it Safe’ For buyers this is the era of ‘playing it safe’. The cost – benefits equation calculated in respect of each major purchase decision has a vital new dimension – that of risk. This is having a major impact on the nature of decision making. The appetite for risk has diminished greatly. [...]
Sales people are increasingly learning that there is no such thing as a ‘sure thing’ sale. That is because as the sale approaches the buyer can get ‘cold feet’ and the salesperson may be the last person to know about it. For example, the salesperson’s proposal, presentation and price beats the competition, but somebody on the [...]
Some buying decisions are more risky for the buyer than others and obviously that is of concern to the seller because risk can be a major banana-skin. The perceived level of risk associated with the purchase decision is greatest where: 1 The buying decision is new (as opposed to for example a repeat purchase) 2 [...]
There is increasing evidence that buyers are addressing risk up front in short-listing suppliers based on criteria, such as; Have you successfully completed projects of this scale and complexity before? How recently? Have you strong reference sites presently ’live’? Have you worked with companies of our size and in our industry before? How recently? What [...]
Seller Beware! Caveat Emptor, or buyer beware was the dominant concept for decades. No longer, the balance of power has shifted, with the seller reluctantly ceding control to a more sophisticated and cynical breed of buyer. Today it is the seller who must beware! The seller is no longer ‘the ringmaster’ of the sale, often being [...]
(a) Buyers Are ‘Doing It For Themselves!’ Buyers are increasingly self-contained. They like to be in control and to stay in control. That means they start to elicit the requirements, build the business case and define the solution well in advance of meeting vendors. Buyers know that they have the power in a market where [...]
It is with just reason that buyers are skeptical of sellers and their ploys. The result is that they have developed a variety of means of keeping sellers in check. Here are some of the tips given by experienced buyers to their novice colleagues on the subject of managing sellers: 1. ‘Silence is golden!’, be [...]
(a) ‘Sales Weary’ Buyers Buyers are more skeptical of vendor sales; people, processes and promises than ever before. They don’t trust easily, or forget quickly- and with good reason. Buyers are increasingly ‘sales-weary’, so sellers take great care! (b) The Sins of Past Sales People Here is a simple reality that we as sellers need [...]
Much of traditional selling is based on the premise that the seller knows more than the buyer. Well, this assumption is increasingly being proven to be false. Today’s buyer is more skilled and experienced than ever before and that presents the salesperson with both opportunities and challenges. (a) Complex Decisions Require Skilled Managers Managers are [...]
The Revolution in the Purchasing Department Previously purchasing was a bureaucratic department that completed transactions and managed the associated paperwork. Now it is considered to be an integrated function, which aims to ensure professional buying skills and practices are applied to all corporate buying decisions organization-wide. How the role of purchasing has changed is summarized in [...]
Welcome to the new strategic buying! Purchasing has been elevated from an administrative function to a strategic business driver and this has important implications for sellers. (a) The Strategy Behind The Purchase Managers are required to demonstrate how projects and purchases fit with strategic priorities and drive business performance. That is because major purchase decisions [...]
One of the key trends of concern to sellers is the rise in importance of the business case in the making of important buying decisions. The reality is that the business case is King and that means sellers must bow before it. (a) Putting the Business Decision First Major purchase decisions are first and foremost [...]
Most large organizations, and an increasing number of smaller ones, have a defined buying process. These processes are increasingly structured and indeed sophisticated. (a) More Sophisticated Buying Organizations have never been better, or at least more careful at buying. In particular, when it comes to major purchases they are applying greater rigor and sophistication to [...]
(a) Managers Loose Purchasing Autonomy Manager autonomy and discretion with respect to purchase decisions and supplier selection has been greatly diminished. The manager cannot simply write a check, or sign a purchase order. In the tightly controlled buying processes of today there is no room for impulse decisions. With less money to go around, managers [...]
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