Examining the Business Case – The Cost-Benefits Equation
The business case can take many forms, but at its core is one key question — why should we buy? or more to the point: How will this purchase help the organization (department/unit) succeed? The business case clearly outlines the value equation of the proposed purchase that reflects not only costs, benefits and risk, but also how […]
Examining The Actions Of The Buying Process
So, we have examined the key steps of the buying process. But, within each step, how much discretion remains in the hands of the manager-buyer? Is the buying process a flexible blueprint or a rigid rulebook? The Fortune 1000 buying process we have highlighted is highly prescriptive, something that is increasingly common. It clearly mandates what […]
A Step-By-Step Progression Through The Buying Process
Each progressive step brings the purchase one step closer to reality, with the commitment being made gradually over many months. Thus, the purchase decision is not simply a matter of one big YES or NO decision. Rather it is the culmination of a series of YES or NO decisions at each stage of the buying […]
Buying Process: The Seller In The Middle
So far you are probably thinking this buying process is all about the buyer as there has been no mention of the seller yet. Well, now that we have looked at the conception and the conclusion of the Six Step Buying Process, and before we start to examine all the detail that is involved, let […]
The STEPS Of The Buying Process
In our Fortune 1000 example managers must follow six key steps to gain purchasing approval. These logical and self-explanatory steps, ranging from Initial Requirements Capture to Launch and Review are shown below. The 6 Steps of the Buying Process These steps can take place over anything from three months to two years, and are likely […]
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 […]
Buying Process – A Summary Of The Implications
Organizations are making slower and, in many cases, fewer buying decisions. But these decisions are being more carefully made, with greater consideration and planning than ever before. It seems inevitable that all this will lead to better buying decisions or at least decisions that reflect more closely organizational priorities and objectives. However, it also means […]
Buying Is Starting Earlier And Finishing Later
Most salespeople know that sales cycles are much longer than they used to be. But, if sales cycles are long, then buying cycles are even longer. As the Fortune 1000 buying process shows today’s buying decisions start earlier and finish later. The Conception Of The Purchase The genesis of the purchase is Step 1, the […]
Examining the Business Case – Strategic Fit
When the numbers of the cost-benefit equation stack up and an attractive payback is evident, even making allowance for risk and compliance, is the result a compelling business case? Perhaps not, because managers must demonstrate that the project fits with the pre-existing jig-saw of organizational priorities, goals and strategies. They must demonstrate the purchase will […]
Myth #1: It’s All About Selling!
Many sellers have spent too long on one side of the table to be able to relate to buyers and exactly what they are thinking. They need to stop looking at selling through a sales-centered lens. (a) It’s About Buying! ‘It’s the economy, stupid!’ is a phrase that played an important role in the election […]
Myth #2: The Seller Is In Control
Perhaps the greatest myth of all in respect of selling relates to who is in control. It is widely believed that the seller can or should be in control. However, nothing is further from thetruth. The Seller As The Center Of The Universe Notice anything wrong with the diagram below? Well, as out of place with […]
Myth #3: The Unsophisticated Buyer
It can be tempting to underestimate the buyer — to assume they know less or are less sophisticated than the seller. Increasingly, this is a dangerous assumption. As we discussed in the previous section today’s buyers often know more than the sales team selling to them. They are exercising greater care in how decisions are […]
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