Many of my latest posts have focused on issues of mindsets and confidence. Even as tech becomes more important for virtually every business, some organizations see it as being a necessary evil. Those same organizations are more likely to be pessimistic and struggle to make purchases that they are happy with (and that are good for the vendor–what we call a high quality deal).
At the same time, there continues to be evidence that organizations that embrace a growth mindset have happier employees and enjoy more success. Growth mindsets build confidence and confidence is contagious (harkening back to a post about my favorite hockey team as one of the key components of that story, Justin Williams, retires.
This issue of confidence and success continue to be explored across Gartner. Once again, some of my colleagues have uncovered some very interesting, and reinforcing facts.
The image below summarizes two key ideas. First, the chart on the left highlights that when members of B2B buying teams are confident that the team has conducted a rigorous decision process, then they are confident in the quality of decision. It is basically linear–as confidence in the process grows, so does confidence in the decision.
Confidence also breeds success–or at minimum the belief in success. The chart on the right highlights that organizations that have high decision confidence are 3.6 times more likely to have their purchase be considered a high quality deal. That is significant. High quality deals are more likely to position vendors for retention and growth within accounts.
All of this reinforces the need for both buyer enablement (helping customers with their buying process) and change enablement (helping buyers build confidence that they can successfully change as needed after a significant purchase.
It also points to a key qualification/customer understanding criteria for marketing and sales teams–the mindset of the prospect organization.
It all connects together. Organizations confident in the value of technology are more confident buyers. Confident buyers make confident buying decisions. Confident buying decisions support confident activities after the sale. Confident activities after the sale improve odds of renewal and growth.
Confidence, a simple concept that can be hard to achieve and maintain. But when you do, great things happen.