The Buyer is unsure how the decision gets made
Over the past several years, review and approval processes continue to be scrutinized by Procurement/Risk/Security/Governance/Compliance/Vendor Management. Instead of assuming you are working with a buyer who understands the signing authority, try asking three specific questions:
1. Who are the persons involved in making the decision?
2. What is the current procurement process?
3. What is the pathway to e-sign the agreement?
Surface the importance of starting the approval process to avoid extended signature delays.
The Buyer really does need a more flexible solution
Instead of responding by compressing your deal size, try providing a phased scope that ensures ongoing stickiness and expansion opportunities as you achieve defined service deliverables. Short-term commitment allows you to spend a lot of time developing cross-sell. Prove you are flexible during this period of intense buyer decision making scrutiny on every dollar to ensure the highest return possible.
The Buyer is not sure how the relationship will work in practice
Will you really do what you say? Instead of revisiting the proposal, try providing a complete service delivery customer experience – service kickoff, first 90 days engagement plan, quarterly success metrics review meeting, mid-year assessment & calibration, and annual executive briefing. Prove it by leveraging your resources.
The reference case study did not highlight business value realization in client terms & measures
Buyers rely upon peer reviews, peer to peer forums, and industry analyst insights to help them choose the right solution for projects. Instead of forwarding a reference case study, try sharing a credibility story that highlights cost savings, customer satisfaction-retention, or top-line growth in client terms. Especially true in this environment, buyers right now need vendors that ensure the highest return possible.
Handling value objections as price objections
The buyer is concerned about making the best possible business decision that also impacts them personally. Your pricing incentives/terms/payment schedule/discounts are not addressing personal value. Instead of focusing on the offer details, try confirming the personal impacts of your value delivered with the buyer. Prove you understand the importance of achieving both the business value and their personal motivating factors. Buyer conviction matters more then ever before.
It is simply not worth it – the buyer doesn’t see the payback
Your ROI calculator does not equate to the buyer’s finance/operations/project team return/benefit analysis. Instead of sharing ROI calculators, try capturing the specific business measures, calculations, and/or metrics. The buyer already has an agreed upon internal return/benefit calculator. Prove your potential impact on deliverables by connecting on their return/benefit terms.
The Buyer is considering other alternatives
Your solution does not stand out among competitors. Instead of providing side-by-side competitive comparisons, try linking your unique capabilities to buyer defined business objectives. The buyer has already sourced comparison data. Prove you can resolve & deliver on top priorities.
SHARE THIS POST
LET'S TALK - CONNECT WITH ME
SIGN UP TO MY INSIDERS NEWSLETTER
Stay in the know with our email newsletter - sign up today!