Fortune 1000 Buying Process
Organizational buying, once ad hoc and unstructured, has become highly sophisticated and process-driven. Although salespeople have noticed some changes, they often underestimate just how sophisticated buying has now become.
In this section many salespeople will come face-to-face for the very first time with the full complexity of buying — in the form of a Fortune 1000 buying process. That includes the new steps, activities and people involved, as well as the many implications that result.
What Does Modern Buying Look Like?
‘Great idea, let’s do it!’ is rarely heard from today’s buyers. The best sellers can hope for is, ‘Let’s get a multi-disciplinary team together to develop the business case, then in 4 to 8 months we can decide if it is worth doing.’
When it comes to how organizations buy there is a sophisticated process, which is often very structured and rigid. It is a scientific process for the allocation of scarce organizational resources between competing projects or purchases.
To see just how sophisticated today’s buying decisions are, we will take an archetype Fortune 1000 buying process and lay it bare. We will do this at two levels: the STEPS in the buying decision and the ACTIONS at each step.
Examining the Buying Process on Two Levels:
The map of buying process, or how organizations buy is shown here (click to expand):