Marketing Complex Offerings
opinion Essay
1082 words
Chart 8: Marketing Complex Offerings
In an era of more fiscal control, more attention is being put on the budgets and purchasing decisions. The impact is that more people higher in the buyer organization will want to okay large purchases. The result is more participants, more scrutiny and micro purchases. The smaller purchases or projects can allow the buying organization to have less people involved who may not have to be on the executive team.
Key Chapter Points
1. Buyers’ expectations are different
2. Understand the unique needs of your buyer personas
3. Buyer personas make collective decisions for the organization
4. Understand the attributes of the buyers
5. A purchase is always seen as an investment
6. Emotion has a hand in all buying
7. Buyers can struggle with unseen forces in making buying decisions
8. Buyers are technologically-enabled like never before
9. Buyers regard socialization as a decision-making tool
10. Business to business buying demands different skills than consumer
Chapter III: Align to the Buyer’s Decision Steps
Marketing must shift its own expectations, accountability and metrics.
Customers that are made knowledgeable through the efforts of an
organization exhibit higher loyalty scores, place greater value on the organizations’ complete suite of services and ultimately value the shared wisdom of the supplier as part of the overall value equation.
MIT Sloan Study
Buyer Probability
Even children know by a pretty young age that desired outcomes in life cannot be guaranteed. The truth is we are always managing our lives and our...
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... the quarter to close deals that help the company achieve its stated revenue targets. Having been there many times, I can tell you that deals will be done and profit will be sacrificed. The provider or selling company will sweeten the deals to ensure the revenue is delivered at the top line but not without extraordinary financial terms to gain the agreement. It feels invigorating to close these opportunities and it makes us feel like we can make the improbable happen. It can also leave us feeling dysfunctional. If we would have been working together the entire year as a team with a strong process to improve our probabilities, we would do less of these kinds of deals and creating more profit for our stakeholders. Unattractive revenue doesn’t have to happen when we are truly working together. We want to smooth out the revenue and improve our odds for success.
In this essay, the author
- Explains that in an era of more fiscal control, more attention is being put on the budgets and purchasing decisions, resulting in more participants, scrutiny and micro purchases. the smaller purchases or projects can allow the buying organization to have less people involved.
- Explains buyer personas make collective decisions for the organization. a purchase is always seen as an investment. emotion has a hand in all buying.
- Explains that business-to-business buying demands different skills than consumer. knowledgeable customers exhibit higher loyalty scores and value on the organizations’ complete suite of services.
- Explains that children know by a pretty young age that desired outcomes in life cannot be guaranteed. millions of discussions will take place over the course of the year in businesses across the globe about how they are going to "control the situation."
- Opines that if we all knew the math around probability, there is the chance that many people wouldn't take the risks they take.
- Opines that the objective of the book is to improve the probability of efficient and sustainble revenue attainment through a contemporized application of marketing resources.
- Explains the probability of a 3-point shot in basketball. if the player shoots 1,000 times, he will most likely score one thousand points; if another player has 60 percent chance of hitting 15-foot jumpers, they’re effectively scoring 1.2 points.
- Opines that the 50-footer shot is memorable and played often because from our own experience playing basketball, we know that it is improbable.
- Opines that the company needs to mitigate revenue risk and give its players the information, planning, coaching, technology and processes needed to succeed on a consistent basis.
- Opines that sales teams wait until the last week of the quarter to close deals that help the company achieve its stated revenue targets.
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