A survey of 146 technology executives to glean insights for sales and marketing into buyer behavior. Technology sales are more challenging with more decision-makers and a longer sales cycle. Transparency on the technology buying process versus the vendor’s sales process and how you can incorporate this insider’s insight into your sales process.
Who initiates the buying process? What is their procurement process like and who has a seat at the table as an influencer or decision-maker? What factors go into the buying process and how they choose an IT vendor? It is often difficult to discern why one vendor was chosen over another or even what factors went into choosing a technology solution. Hidden factors like relationships, buying cycles or trust often play a crucial role in who closes the deal.
Sellers think in terms of a “sales cycle.” But that only covers a portion of the buying process. The process usually begins long before a seller is engaged—when the organization commits to solving a problem, clarifies its needs and assembles its first attempt at business requirements. Only then does it proceed to identifying solutions and engaging vendors to evaluate its solutions, agree on a winner, and move to contracting.
This Buyer’s Snapshot provides transparency into purchasing decisions and can help vendors align their sales processes and strategies, aligning with target accounts and improving the potential to close more deals or expand existing accounts.