Chart 8: Marketing Complex Offerings
In an era of more fiscal control, more attention is being put on the budgets and purchasing decisions. The impact is that more people higher in the buyer organization will want to okay large purchases. The result is more participants, more scrutiny and micro purchases. The smaller purchases or projects can allow the buying organization to have less people involved who may not have to be on the executive team.
Key Chapter Points
1. Buyers’ expectations are different
2. Understand the unique needs of your buyer personas
3. Buyer personas make collective decisions for the organization
4. Understand the attributes of the buyers
5. A purchase is always seen as an investment
6. Emotion has a hand in all buying
7. Buyers can struggle with unseen forces in making buying decisions
8. Buyers are technologically-enabled like never before
9. Buyers regard socialization as a decision-making tool
10. Business to business buying demands different skills than consumer
Chapter III: Align to the Buyer’s Decision Steps
Marketing must shift its own expectations, accountability and metrics.
Customers that are made knowledgeable through the efforts of an
organization exhibit higher loyalty scores, place greater value on the organizations’ complete suite of services and ultimately value the shared wisdom of the supplier as part of the overall value equation.
MIT Sloan Study
Even children know by a pretty young age that desired outcomes in life cannot be guaranteed. The truth is we are always managing our lives and our businesses toward goals with varying degrees of probability. We just don’t normally cover outcomes with this kind of specificity in our dialogue. Millions of discussions will take place over the course of the year in businesses across the planet about how we are going to “control the situation”. This language may make us feel good but the truth is always sitting there deep in our brain. The thinking person knows that there is no guarantee. We can only give ourselves the opportunity to increase the odds of success as much as possible by using the resources we have available. Unseen forces are often lurking in the shadows to hijack our intentions.
If we all knew the math around probability, there is the chance that many people wouldn’t take the risks they take. They also wouldn’t run their businesses the way they do. Perhaps that’s why we use words like control and manage because it helps us keep our chins up against the odds. It reminds me of the saying that all progress depends on the unreasonable person.
I’m not trying to persuade anyone into thinking that by focusing on the buyer’s view and understanding their steps that revenue is guaranteed. If that were possible, I could just print the book like...