- Do your sales professionals have the right tools and content to help them facilitate and streamline your buyer’s decision-making process?
- Can your sales professionals answer key buyer questions:
- Why Change? - quantifying your buyer’s pain
- Why Now? - justifying proposed gain
- Why You? - proving you are not the same.
Monday, October 29, 2012
Your Sales Cycle Dilemma in 2013
With more financial constraints, more stakeholders, and more scrutiny on each purchase, buying cycles have been extended by almost 10% over the past three years.
As a solution provider, the lengthening decision cycle can be frustrating and costly to you, as deals stall and critical sales revenue is delayed.
In our recent ValueStory™ roadshows, attendees have indeed confirmed lengthening decision cycles. This despite many of the participants now selling solutions that are easier to purchase and deliver, particularly Software as a Service and Cloud Computing solutions. The reasons provided most often for the sales cycle lengthening: more financial scrutiny on each proposal and more stakeholders involved in each decision.
The good news is that your customers are likely just as frustrated with increases in purchase decision delays. According to IDC, buyers would like to reduce the decision making time by 44 days if they could, from 5.4 months to just less than 4 months.
So what is holding up the decision-making process? IDC indicates that buyers perceive about two thirds of the decision-making process as being consumed by the buyer’s internal processes. As a solution provider, you could help reduce the internal process by arming your customer with the right content and tools to help internally sell your solutions to executives and financial decision makers.
So, the big question:
If you think your sales teams could do better, here are some important guides that will be vital for addressing the Sales Cycle Dilemma in 2013: