Evaluation of Options

At this point in the buying cycle, a decision to purchase has been made. The question now is, from whom?

 

Typical Customer Concerns:

• What criteria should we use in making a decision?
• Which competitor best meets our criteria?

Sign that Phase is Over:

• Customer has a clear decision mechanism in place and has used it to select one or more final contenders.

Common Strategic Errors:

• Failure to uncover and rank decision criteria
• Little attempt to change or influence decision criteria

Coaching Questions and Tips:

• Have we performed a vulnerability-analysis?
• What and where are the gaps…Value, Credibility, or Performance?
• What is our strategy to overtake, redefine, trade-off, or strengthen?

Other Key Coaching Questions:

• Have you had a conversation with the customer about decision criteria and process?
• What are their decision criteria?
• What is the decision process?
• Who will make the decision?
• What is the timing?
• Who is the competition?
• What are the alternatives?
• Where are we vulnerable?
• What types of gaps exist?
• Can we map out a vulnerability analysis together?
• How can we influence their decision criteria?

As the customer gets closer to making a critical purchasing decision, it's likely that she can develop "cold feet" for a number of reasons. Making a major purchasing decision is fraught with risks, both to the buyer (personally) and her business. "No one ever got fired for buying IBM" - That was the old saying that illustrates this point. But what if you are not IBM and you still want to win?? Next, we will look at an often neglected phase of the buying cycle, the Resolution of Concerns phase, and discuss how you coach your salesman through it and position your product for victory.