Few people would accuse those in procurement roles as being ‘yes men’. But perhaps a direct ‘no’ is less common than people think. Those in procurement and finance have found a more effective way of stopping buyers (and those who want to sell to them) in their tracks. It is to ask for a cost-benefit […]
Buying decisions are often a lot more complex than sellers realize. They can involve up to 5 stages – many of which do not involve the salesperson. That has real implications for getting the deal across the line.
Successfully Navigating The Procurement (PO) Maze
Closing the sale and getting the Purchase Order no longer go hand in hand. In many buying organizations a new level of bureaucracy and administration has grown around what was once just an administrative formality. Getting the PO is no longer a straight-forward matter – for the unprepared seller can be a costly maze. […]
Misreading the buying process is easy for sellers to do, but it can be costly. It happens because of gaps in the seller’s knowledge of the steps, paperwork, review points, information requirements and so on.
Don’t get paralyzed by the buyer’s process. Don’t let it stop you selling. Even if your selling is limited to submitting a tender response, with little interaction with the buyer in advance, don’t cast aside the basics of either solution selling or relationship selling.
Buying has become increasing structured and process-driven. The steps in the buyer’s process therefore have a major bearing on the speed and indeed the success of the sale.
But adopting a less rigid view of buying process is important if the salesperson is to do his, or her job well. It requires adopting a non-linear view of the sales process, or what we like to call sales hopscotch.
Imagine if you could predict what the buyer was going to do next. Well you can! That is if you understand your customer’s buying process and the standard steps that are typically involved.
Behind many big purchases is a project. Indeed the purchase itself may be a project, with a set of steps, a project team, project milestones and so on. Adopting the project perspective on the sale is important from the perspective of qualifying and closing the sale.
Are there opportunities to optimize how your customers interact with your solution from the moment of purchase to the point of payment? To find out ‘staple yourself to the order’.
Sellers are naturally focused on the purchase order. However, in winning the sale it is important to look beyond the buying decision to see the customer’s broader business and procurement goals.
There may be unrealized opportunities for your solution to deliver even greater value to the customer. This insight provides a methodology to uncover your hidden sources of value.
The VP of Sales had just taken to the stage. With his opening remark my jaw dropped. ‘BANT is no longer enough’ he proclaimed.