Struggling with buying decisions?

If you are, you are not alone! Depending on what research you look at it would appear that 40 - 60% of buying decisions end with no decision.

That is costing you as the seller a lot of time, money and effort invested in opportunities that go nowhere. And it's also costing buying organisations too. So what's going on and, as sellers, how can we help?

How many of these observations about buyers sound familiar?

1. Lack of clarity about their own needs: Sometimes, buyers may not have a clear understanding of their own needs and requirements. They may know they have a problem, but they don't know how to solve it. This can make it difficult for them to evaluate different products or services and make a decision.

Solution: Make sure your value discovery is effective and that you help the customer recognise the scale of the problem and the potential value of a solution. Don't move on to value demonstration until you have a commitment from the customer.

2. Too much choice: If everyone's solution looks similar there may be just too many options for the buyers to consider. Too much choice makes making the right choice even more difficult! More Isn’t Always Better (hbr.org)

3. Difficulty in evaluating the options: Even when buyers have a clear understanding of their needs and have narrowed down their options, it can still be difficult to evaluate them. Factors such as price, quality, and service levels can all play a role in the decision-making process.

4. Decision-making process: In some cases, the decision-making process itself can be a barrier to making a buying decision. For example, there may be multiple decision-makers involved, and getting everyone on the same page can be a challenge.

As sellers it's vital to understand the buyer's decision-making process. Not just the who but the how. Even the buyer may not be 100% clear, so our job is to help navigate the complexity of the customer's decision making process. Good luck!

5. Right now many buyers appear to be cautious and risk averse. FOMO - fear of missing out, becomes fear of messing up. The consequences of making a wrong decision can be severe, so best to not make any decision at all.

Making a buying decision in B2B can be complex and every bit as difficult for the buyer as selling to them can sometimes appear to be to us! Think about taking the journey together and collaborating with them. Buyers may need to carefully evaluate their needs, consider numerous options, and navigate a complex decision-making process, all while balancing the potential risks and benefits of each option. How can we help and not stand idly by as opportunities come and go.

Ready to talk value? Get in touch.

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