B2B buyers weigh previous experience with vendors highly when choosing new ones.
The deal was theirs to lose. An accounts payable software firm recently aimed to win a contract with a current customer, which had assembled an initial short list of contenders. However, when it came to the demonstration stage to show the newest product, the sales staff did not adequately prepare, stumbling over a clunky user interface, a weak roadmap for the next generation of products, and a mismatch with the buyer’s needs.
For example, they often don’t realize that buyers already have a list of potential vendors in mind before starting the search process, and 90% of the time end up buying off that day one list. Sellers tend to woo the top decision makers at their current and prospective accounts, paying less attention to the wider group of influencers and users at buying firms.
In a telecommunications face-off, the chosen vendor “showed us the end-to-end feasibility of their solution in our ecosystem,” one buyer told us, whereas the runner-up’s demo trial period “exposed product line limitations.” The sway of each tier varies throughout the buying process, but the core committee consistently has the most influence and presents the biggest opportunity for vendors. A vendor’s first task is to identify members of the buying circle in each of the three tiers. Marketing to them should involve content tailored to their priorities, such as ROI-focused case studies for the chief financial officer, and product feature case studies for product managers.
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