The What Ifs? that Can Derail a Deal

We've all read the reports and research that shows B2B sales win rates are in an overall decline. But, it's not just losing the sale to a competitor that companies need to reverse, but the growth in "no decision" being made. CSO Insights finds that "no decision" being made in relation to a purchase has grown from 20% to nearly 25%.

In a B2B complex buying process, companies are often still focused on only one decision maker, if they have even developed a thorough understanding of the motivators, priorities, and responsibilities of that person. The problem is that a complex B2B purchase decision is never made by only one person. Never.

As marketers embrace content marketing and mapping content for delivery across the stages of the buying experience, one of the stages that gets the least attention is the one I label Step Backs.

Step Backs is the buying stage where the buying committee is actively reviewing research and considering options that can solve the problem. This is when the "funnel" swells as more people enter the conversation, bringing their own perspectives and concerns to the fore.

This is where the What ifs? happen:

• What if it doesn't work?
• What if it effects X?
• What if I have to re-engineer processes?
• What if users won't adopt it?
• What if it takes longer to implement than we think?
• What if it doesn't play nice with our other systems?
• What if...

The problem marketers face when this happens is that they rarely have content at the ready to answer the what ifs. This means that when the buyer who's championing the deal goes back to try and find the information he or she needs to answer those questions to the satisfaction of the committee and can't find content that does so, momentum halts.

Let me repeat this - momentum toward purchase stops in its tracks!

For, without consensus, the committee cannot choose.

You're probably thinking that they'll just call a salesperson to get the answer, right? Not necessarily. But, even if they do, are your salespeople prepared to answer those questions?

If salespeople are only called upon once the short list is selected, response time and the value of that response are critical factors for keeping the momentum of the deal moving forward. Buyers aren't the only ones who need content for that purpose.

However, consider the impact on the buyer if marketing has been providing content throughout the buying process that has helped to facilitate their buying process. Now, when it's critical to them to find an answer, they cannot find anything to quell the what if questions.

• Are they disappointed?
• Will they begin to rethink their choice of your company as their partner?
• Is this a disconnect that impacts their confidence in what they thought was the right solution?

The interesting thing to note is that as marketers become more proficient at content marketing, we also raise the expectations of our buyers based on the value that content provides. This is why the content needs for each buying stage must be addressed.

Consider that case studies need to be truer reflections of the journey to solving the problem. Reveal obstacles and show how your company's expertise was critical to overcoming the issue discovered along the way. Create a tip sheet of the "10 things that could go wrong, but why they won't" content asset and make sure it's findable - by both salespeople and your buyers.

There are many ways to address the what ifs that can derail a deal - but first, you need to figure out what those are. Do your research and ask your salespeople, new customers, and even those who didn't buy from you.

Then get content out there to address those key issues you discover.

Marketers need to address each stage of the buying process based on what buyers need at that time. Step Backs is only one stage - but it's an important one that can have a true impact on customer acquisition.

Comments

[TechProspect]

In this information rich age, everyone in a decision making position in a company receives more information on possibilities than they can handle. White papers on this, case studies on that, webinars on the other.

So they make decisions in principle long before there is a buying process. Is this worth looking into? Is it high or low priority? The knowledge level is way higher than 5 years ago.

The old methodology - "salesperson puts an idea into play and presents it to one person, who becomes its champion within the company" - is long gone. Put something on an agenda for discussion and by the time of the meeting several people will have googled it, downloaded stuff and have informed opinions. Often the task is to "uneducate" members of the buying team who have taken as gospel stuff they found on the net.

The key to success as a vendor is raising awareness among the whole management team and making sure that when something is discussed it is your material they are holding up as a good example.

This is totally divorced from a buying process and attempting to sell at this stage will often blow the whole idea out of the water. Treating this information gathering as a lead will be counter-productive.

Intelligence is also important - knowing what everyone is likely to find on their search and how to position yourself above it. Have you googled your keywords today and worked out how to uneducate people on the information from other vendors they've found there?

[Amanda Maksymiw]

Ardath,
Great insights. It is important to take a look at the complete buying and sales processes and map your content inventory against the stages. Only then can you truly identify the gaps!

As always, keep up the good work.

[Ardath Albee]

Hi Peter,

I see you're back, under a pseudonym this time. Interesting choice.

I agree with much of what you've said, but I think the approach of "uneducating" people means you've not done the job of getting your information found when your prospects are looking for it. Changing minds is difficult. It's a better option to help inform opinions.

The other point that I disagree with is that what I'm proposing in my post is divorced from the buying process. If you notice in the graphic, this post is about step backs. This is after the short list is formed and buyers are working toward choosing a vendor. How can that possibly be "divorced from the buying process?"

And,instead of "uneducating" people, perhaps the approach is to be the one who builds on the information people already have to tell a better story about the opportunity/solution. Seems to me the reception would be better and more productive than trying to go backwards.

[scott]

I agree that this Step Back stage is one that most of us are not well prepared to effectively and quickly address.
The sales organization needs to anticipate the Step Back stage by working closely with the prospect and then partnering with marketing to develop the content, before the Step Back stage is reached.
There are a few ways to do this. One approach is to ask your prospect, before you get to the Step Back stage, what their buying process is for your service/product. Be sure to ask several more questions to get down to the details. Then ask who was involved in the buying process.

[Bob Apollo]

Ardath, I'm absolutely with you on this - my only observation is that the potential to step back (albeit for different reasons) exists at almost every stage in the buying decision process.

And to Pseudo Peter, a big thank you for uneducating me about the buying process. I had no idea I was so ignorant.