Hello, yeah, it’s been a while.
It’s been an interesting year for all of us and I’ve had my own set of craziness. The end result was I dropped off the face of the blogging earth back at the end of December. We’ll it is time to get those blogging shoes back on. I’ve been exploring lots of interesting things (mostly not related to COVID-19—if you want a COVID-19 ‘business’ take from me it is simple. The importance of the fundamentals matter more than ever. Do the right things right and don’t get distracted by generalizing situations.
We did have a big study come back that focused on how customers approach subscription renewal decisions and view customer programs that I’ll share some highlights of (clients have seen much of this), and we have another one in the works. But much of what I have been doing is continuing to dig deeper into enterprise buyer behavior to try to understand why some organizations find tech buying straightforward (and then successful) and others find it to be a nightmare.
We’ve looked at it from many perspectives, but there is one attitude–one mindset–that is really jumping out at me. Organizations that feel technology is strategic to the business (vs. just something that underpins and supports their business) succeed more often. We are talking broadly, not about specific purchase types, by the way. This holds across categories
We explore this question as one part of our Enterprise Technology Adoption Profile research, so we have quite a bit of data behind this.
In all most every view, those that view technology strategically come out ahead:
- Higher Percentage of High Quality Deals
- Significantly Less Likely to Regret Most Decisions
- More Open to Newer Vendors
- More Willing to “Put in the Work” to Make a Good Decision
- and on and on and on
While we believe that ETAs are organization wide, there may be pockets or groups that view technology strategically, while the org as a whole views it supportive. In that case, the group may be more likely to be successful, but if they require the support of others, it could be frustrating.
Similarly, if an individual thinks technology is strategic, but the organization doesn’t, they’ll get frustrated. This may manifest itself as buying teams have recommendations overturned by executives to go with their personal favorite vendor.
These is some good news in this for vendors. Enterprise behaviors are complex and multi-dimensional, but here is one thing to understand that establishes a great starting point for account hypotheses and framing further investigation. And, it should not be hard to figure out.
If you aren’t thinking about the mindset of your customer, and the organization they operate in, you are missing a key signal of your future with that client.
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