Buying Criteria - 色花堂 Institute Empower Your B2B Marketing with Insightful 色花堂s Mon, 31 Jul 2023 19:42:20 +0000 en-US hourly 1 /wp-content/uploads/2020/12/bpi-blog-default-120x120.png Buying Criteria - 色花堂 Institute 32 32 Marketing Plans Should Start with the Buyer鈥檚 Needs – Not Yours /blog/marketing-plans-should-start-with-the-buyers-needs-not-yours Wed, 01 Nov 2017 18:12:41 +0000 /?p=3760 MemeI can鈥檛 blame marketers for avoiding the development of marketing plans, launch plans or any other version of a strategic...
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I can鈥檛 blame marketers for avoiding the development of marketing plans, launch plans or any other version of a strategic plan. This apparently reasonable request usually requires countless hours of writing and revisions, only to be filed away in some dusty online folder.

The reason marketing plans don鈥檛 get implemented is that they are focused on what you want to achieve. In fact, countless articles and templates for marketing planning suggest that you start with your goals, obstacles, and objectives. While these are certainly critical components, I don鈥檛 see how marketers could possibly expect anything built around internal needs could withstand exposure to the pressures of new priorities, ideas and people.

What do your buyers want?

While marketers often try to include market data and audience profiles in their plans, if you look closely you鈥檒l see the plan says nothing about what your buyers want to know during their journey or where they go for this information. Thus, the actual content of marketing deliverables is left to the imagination of the team that is doing the work. It should be no surprise that depending on where the work originates, the content differs dramatically. Even more costly is the team鈥檚 guesswork about how to deliver the content, which has much more to do with your preferences than the buyers鈥.

A more rational and sustainable approach to planning begins with clarity about what affects your buyers鈥 decisions (and just as critically, what doesn鈥檛 matter to your buyer). It might feel like cheating, but what if you knew the buyers鈥 true story about everything they did, and every question they asked, as they went through their awareness, consideration and decision process? Now your marketing plan could be based on the information buyers are seeking and actual insight into how buyers decide that a competitor鈥檚 solution (or the status quo) is better suited to their needs.

Information your buyer needs to make a decision

To illustrate this potential, here is a mock-up of several different buyer鈥檚 journeys wrapped up into one. Note that we mixed up the findings from several personas to protect the intellectual property of the companies that invested in this research. So please don鈥檛 use this mock-up to guide your own planning, but this will give you a sense of the detail about your buyer鈥檚 informational needs that results from the proper research.

What your buyer does to make a decision

In this example, we have also combined results from several studies to illustrate the steps a buyer might take during their journey. You鈥檒l note that unlike a lot of buyer journey examples you鈥檒l find online, this one is about what the buyers do, not your marketing activities. Once you know where buyers go for trusted information and who influences their decisions, you鈥檒l have the data you need to decide which marketing spend is most valuable and what deserves less attention.

Not knowing this information is costing you

Many marketers who wish they had deep buyer insights say it is difficult to justify the investment. If this is you, consider the very tangible costs of making stuff up as you go and failing to give buyers the useful information they are seeking during their journey. You鈥檒l discover quite quickly, the costs are enormous for you, your sales team and your company鈥檚 bottom line.

For more recommendations, attend our virtual 色花堂 Masterclass or read our book; 色花堂s:聽 How to Gain Insight into Your Customer鈥檚 Expectations, Align your Marketing Strategies and Win More Business (Wiley). If you are even more passionate on the subject, contact the 色花堂 Institute directly so we can learn about your special circumstances and tell you how other marketers have solved the same challenges.

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Gartner says: Sales and marketing influences just 32% of B2B buyer鈥檚 journey /blog/gartner-says-sales-and-marketing-influences-just-32-of-b2b-buyers-journey /blog/gartner-says-sales-and-marketing-influences-just-32-of-b2b-buyers-journey#comments Thu, 23 Jul 2015 13:00:26 +0000 /?p=3345 Buyerpersona BlogI am fascinated by a recent Gartner study about the journey of 700 enterprise buyers across the U.S., EMEA, Brazil,...
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I am fascinated by a recent Gartner study about the journey of 700 enterprise buyers across the U.S., EMEA, Brazil, India and China. According to a recent with Hank Barnes, Research Vice President at Gartner, the study focused on four areas:

  • During the buying process, what types of activities and information do you use, independent of the firm you are evaluating?
  • What type of content do you use from the provider itself?
  • What marketing activities get your attention?
  • What are you expecting from sales interactions?

Thebuyers journey findings? Buyers spend only 32% of their journey interacting with supplier-side content or sales people. Two thirds of the buyer鈥檚 journey is devoted to internal assessments, peer networking, and the recommendations of external experts.

According to Barnes, buyers 鈥渉ave access to all this stuff from vendors, but making sense of it, interpreting it, understanding that they have the right stuff is where they鈥檙e really struggling.鈥

This data quantifies exactly what we hear every day in our buyer persona interviews. And as a career sales and marketing professional, I am amazed that every company hasn’t realized that filling this void could be the best way to gain a competitive advantage.

In a few months ago, I related our experience interviewing buyers who say that marketing materials do nothing to help them make a decision, as competing solutions relate the same obvious benefits rather than useful information. The buyers鈥 experience with sales people is mostly a continuation of this theme, as sales arrives with the same marketing message rather than the critical details that help buyers gain confidence in their decision.

We know that many marketers are trying to explain the value of interviewing buyers to understand their needs and expectations. Maybe now that we have a report stating that vendors are privy to only 1/3 of the buyer鈥檚 journey, we can make it clear that it doesn鈥檛 work to build buyer personas by culling information from salespeople and marketing automation solutions. We’re seeing a very small part of the decision we need to influence.

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How Radio Shack lost their buyer focus and their business /blog/how-radio-shack-lost-their-buyer-focus-and-their-business /blog/how-radio-shack-lost-their-buyer-focus-and-their-business#comments Thu, 12 Mar 2015 12:00:06 +0000 /?p=3229 Buyerpersona BlogI was saddened by Radio Shack鈥檚 recent bankruptcy filing. Its convenient stores and helpful staff are easy to find in...
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I was saddened by recent bankruptcy filing. Its convenient stores and helpful staff are easy to find in any city I鈥檓 visiting. There is even a store in the tiny community where I live.

Radio Shack logoRadio Shack鈥檚 60-year rise and fall is a case study in what happens when a company鈥檚 vision isn鈥檛 balanced by insight into its customer’s expectations.

When Charles Tandy bought a small-time chain of nine stores in 1963, advances in technology and automation pointed to a future where we would all enjoy lives of leisure, freed of the need to spend eight hours a day at the office. Radio Shack would become a place for tinkerers and hobbyists with lots of free time and a desire to explore the brave new world of technology.

Radio Shack employees were drawn from the same pool of hobbyists, so they were ideally suited to engage shoppers with enthusiasm and knowledge. By the mid-1970s, the citizens band radio craze had made the company incredibly profitable. At it’s peak, the company had 7,000 stores.

But as we all know, technology didn鈥檛 give us more free time. In fact, in 1979 the average American worker was on the job for 1687 hours a year. By 2007, that number had ballooned to 1868 hours 鈥 adding more than a month of extra work hours every year.

We can only speculate about what might have happened had Radio Shack focused on its origins when it jumped into the personal computer market in 1977 with the TRS-80. This was a time when computers were often assembled from kits, but Tandy chose to sell his pre-assembled in one box. Radio Shack had found success marketing to 鈥渄o-it-yourselfers,鈥 so why would they not continue to do so with their computers? It鈥檚 hard to say, but the TRS-80 is now barely a footnote in computing history, and marked the beginning of the decline for the corporation.

Over the next few decades, the company flailed about, expanding their product selections to focus more on consumer electronics and launching a mail-order catalog business. Their ability to solve a unique problem for their buyers continued to deteriorate, as there were plenty of other players in the consumer electronics space, and the Internet quickly made mail-order catalogs obsolete. Attempts to launch a 鈥渂ig box鈥 electronics chain failed, and the company sold off the electronics manufacturers that made their house brands to focus on third-party products, with disastrous results.

By 2011, stock prices had fallen from $24.33 to $2.53 a share, and in January the company announced they were filing for bankruptcy.

Radio Shack is only one of many market leaders who lost their way as their vision came face-to-face with customer expectations. Similar failures to understand their target buyer and deliver on their specific needs have defeated behemoth companies like Unisys, Digital Equipment Corporation and countless others.

The changes that cause large, successful companies to fail are rarely sudden, which is why they are so easy to dismiss and also why they are so disturbing. Like Radio Shack, most companies have many opportunities to adjust their strategies to align with their buyers鈥 needs. Radio Shack might well have survived had they maintained their focus on their audience of electronics hobbyists and adjusted their strategies accordingly. Instead, they pursued a 鈥渕e too鈥 strategy that stripped them of their purpose, steadily reducing their unique product offerings to sell mobile phones and consumer gear that could be purchased anywhere. The hobbyists went elsewhere, and in the end, Radio Shack couldn鈥檛 serve any buyer better than some other store could.

It鈥檚 too late for Radio Shack, but it doesn鈥檛 have to be too late for your company. If you鈥檙e developing strategies without understanding your customer鈥檚 expectations, consider the possibility that you might be missing facts that will be retold in a story like this.

And beware of the online tools that help you build buyer personas without interviewing real buyers. As the people at Radio Shack can attest, it is incredibly dangerous to recycle your internal mis-perceptions into a new template and rely on your own hopes and vision.

P.S. My new book 鈥溕ㄌ胹: How to Gain Insights into your Customer鈥檚 Expectations, Align your Marketing Strategies, and Win More Business鈥 (Wiley) is now shipping.

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Ask interesting questions to hear how buyers think /blog/ask-interesting-questions-to-hear-how-buyers-think /blog/ask-interesting-questions-to-hear-how-buyers-think#comments Fri, 26 Aug 2011 16:27:01 +0000 /?p=617 Imagine that you鈥檙e at a party with a group of acquaintances and the woman standing next to you announces her...
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Imagine that you鈥檙e at a party with a group of acquaintances and the woman standing next to you announces her weekend plans 鈥 she鈥檒l be painting her apartment. Which of the following would you be most likely to ask:

A: What color did you choose?

B: How did you choose the color?

C:There are great apartments for rent right now. Have you thought about moving?

Answers vary on this selection (more on that later). But it’s clear that the question needs to follow the woman鈥檚 lead, that we would never script our conversation in advance of the social interaction. Imagine the confused, annoyed or bored response from this woman if we asked 鈥渟o what do you think about that new play that just opened?鈥

Most people are perplexed when I ask them to conduct unscripted buyer persona interviews. These are the same people who will happily show up in any social situation, listen for threads of topics that others find engaging, and guide the conversation to mutually relevant topics.

Why not take this same approach with buyer interviews?

While it is definitely more taxing to develop questions in real time, the pressure to do so keeps us listening intently. And each time we base a question on a point that the buyer has recently made, our rapport with the other person builds. The buyer might even tell me, a perfect stranger, something he hasn鈥檛 told anyone else.

Pre-defined questions can only address topics that we found interesting before we started listening to the buyer. Worse yet, we are unlikely to learn anything new, having missed the opportunity to probe deeply on an interesting point..

This approach is especially critical for win/loss interviews. We need to get buyers talking at length about their decision criteria and process. We aren’t going to discover any actionable insights by writing down the buyer鈥檚 short answer — that we lost the deal on price and features, or won it because our sales rep is such a great guy. We need much deeper insights into how and why the company made this decision.

For instance, if the buyer told us that one of the triggers for this decision was that our solution was easiest to use, we might follow up by asking the buyer to describe what, specifically, they found to be easy. Or we might ask what level of user would find it easy to use, and what training they expected that user to need. Another line of questioning might reveal details about how they assessed the solution’s ease-of-use.

Returning to your interaction at the party, if you selected question A (what color will she paint her apartment), you have just learned that your new acquaintance likes light yellow, which might be interesting if you are selecting colors of paint to carry in your store, or what colors to feature in a marketing campaign for paint.

Question B (how did she choose the color?) is a great follow-up question, or likely your best first question, as this should trigger a story about the way this person thinks and makes decisions. This question will probably get you the answer to the color too.

Question C (did you know there are some great apartments for rent?) is changing the subject, a terrible technique when you need to build rapport, and one of the major reasons that interviews should never be scripted.

Unless you鈥檙e marketing home improvement products, you shouldn’t care about anyone鈥檚 choice of paint 鈥 buyer鈥檚 decision processes vary dramatically based on the products, services and solutions they’re considering.聽 But we want to have an agenda, perhaps three-to-five topics that we hope to explore, and not a structured questionnaire, if we want buyers to tell us what really persuades them to make decisions about our category of solutions.

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Buyer personas get personal /blog/buyer-personas /blog/buyer-personas#comments Wed, 13 Feb 2008 12:27:55 +0000 /2008/02/buyer-personas.html Working on a buyer persona for a chief information officer last week, my client listed the predictable pain points on...
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Working on a buyer persona for a chief information officer last week, my client listed the predictable pain points on the flip chart — shrinking budgets, conflicting priorities, legacy solutions that are difficult to integrate but costly to replace.

These aren’t the real issues for Sam, I said. He鈥檚 been living with these problems for years 鈥 why would he be motivated to talk to you now? We explored the more personal side of this issue for Sam 鈥 could his job or career be compromised by sticking with the status quo? Which aspects of this decision look riskiest to Sam? What, exactly, is at stake if he makes a decision to go with your solution and it doesn鈥檛 work out?

I kept asking for deeper insight into Sam鈥檚 resistance to their solution. Sam knows about products such as yours, I said, so this isn鈥檛 about the obvious problems. Let鈥檚 talk about his attitudes and what it would it take to change those perceptions.

After a bit of discussion, my client said, 鈥淚 get it! Buyer personas are about 鈥榮take-in-the-heart鈥 marketing.鈥 A bit violent, I thought, but the people in the room suddenly understood that capturing the same old 鈥減ain-points鈥 in their buyer persona renders it meaningless.

I鈥檝e never seen a more interesting example of stake-in-the-heart marketing than this year鈥檚 U.S. presidential campaign. I confess that as a marketer I am predisposed to see the election through the lens of effective campaign strategy, but think about it. Can you see that the proposed answers to the country鈥檚 problems (health care, the economy, terrorism) are the candidate鈥檚 鈥渇eature-benefits,鈥 crafted into messages that target different persona pain points? Do the differences in their plans fully account for your decision? Are their solutions new enough to explain the record numbers of people voting in the primaries? Or could it be that these candidates have managed to communicate on an entirely different level, and to audiences who are seeking something more?

With rare exceptions, the technology solutions I hear about each week are a lot like politicians 鈥 the differences between competing features and benefits aren鈥檛 enough to drive most people to take action. Plus buyers know that technology (and political) solutions are more difficult to implement than anyone wants to admit. Marketing needs to get personal if we want to convince buyers that our solutions can be trusted get the job done, come what may.

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