The Four Nots of B2B buyers
The pitfalls and perils of one business selling to another.
“Do not go where the path may lead, go instead where there is no path and leave a trail.”
Ralph Waldo Emerson
This says to me… the way to your achieve goals is by not doing something. Not making the same mistakes. Not repeating a method and expecting a different result (the definition of insanity). Or in the case of buying marketing services, not equating B2B with B2C.
Why? Because consumers are very different fish to business buyers. In general, consumers spend their hard-earned cash to fulfil their wants and needs. In business, it’s just not the same.
Crucially, it’s not that simple, because it’s not their money. It’s company money, so with every purchase comes a justification of the choice and the stated benefits to an organisation. Impulse buys, they’re not.
At dnx, we’ve identified the B2B procurement peculiarities that can be barriers for buyers. We call them ‘The Four Nots’:
- Not my money – so I need to make the case and justify my choice.
- Not only my decision – even if I have the authority, there’ll be a team of people involved and/or influencing.
- Not tomorrow – when I say the decision won’t be made overnight, I mean it.
- Not small change – the bigger the purchase or investment, the more I will need to back up my decision.
In my next four blog posts, I’ll go into more detail in an attempt to unravel each of the Nots.