Lengthy purchase cycles, multiple stakeholders, and difficulty building consensus are challenges faced by sales teams across industries – making delays in the buying process more and more common.
Last week, Marketing Charts shared the top factors delaying today’s B2B purchase process.
Understanding these factors and navigating them effectively is what is going to keep your deals moving forward.
Let’s tackle them…
Reason #1
Shifting Market Environment & External Influences
The market constantly shifts – we know this.
Economic fluctuations, tech advancements, regulatory changes, and global events can all reshape business (sometimes overnight!), and almost always, these factors are out of our control.
Strategy: Typically, during these times, buyers are even more eager to save money, boost efficiency, and gain a competitive edge.
Shift your focus from selling your solution to becoming a strategic partner. By understanding their evolving needs and helping them navigate change, you can build deeper relationships that lead to long-term success.
In shifting market conditions, getting into your customer’s Odds Are and understanding the factors that most affect their buying process is key. Once you know this, you can tailor your messaging and solutions accordingly.
You might consider offering flexibility in pricing, contract terms, or implementation timelines. Focus on long-term solutions that help the buyer see beyond current market conditions.
Reason #2
Competitive Assessment
Buyers have an abundance of information and options available to them. They are well-informed, proactive, and have already done their own research on you and your competition before they even begin reaching out.
Strategy: Make sure you understand and can clearly articulate your organization’s value proposition.
- What benefit can the buyer expect to receive from your product or service?
- What problem does it solve?
- Why is it a better choice than competing alternatives?
Consider providing buyers with clear, concise, and easily digestible information that shares your value proposition and makes it easy for them to compare your offering to the competition.
I tend to lean on client testimonials – you can never go wrong with authentic feedback! I have even connected prospective clients with current clients in the same industry or facing similar challenges, allowing them to share their firsthand experiences and answer questions openly without any influence from Carew or me.
Reason #3
Timing
Typically, buyers have specific timelines and budgets that dictate when they can make purchases. Any misalignment between your selling process and your buyer’s internal process, even if there is a strong interest, can lead to delays.
Keep in mind that when timing plays a factor, you often hear the “not now” objection – be ready for this!
Strategy: Be proactive and LISTEN. When you have your initial exploratory call, directly inquire about the timeline, budget cycle, and any possible internal processes and timing that could potentially slow the buying cycle. Then, adjust your process and follow-up cadence to match your buyer’s timeline.
You might consider offering limited-time discounts or alternative solutions that are more cost-effective and flexible.
We have clients at Carew whose timing isn’t right for a full-scale customized training program. As an alternative, I have offered them our Carew OnDemand™ courses – It’s a perfect way to familiarize them with our content, maximize initial ROI, and prepare for a deeper dive when the timing is right. Sometimes, you just need to get creative!
Reason #4
Consensus Building & Internal Alignment
In B2B sales, securing buy-in from multiple stakeholders is often the biggest hurdle. Misalignment within the buying committee can lead to endless discussions and stalled progress.
Strategy: Proactively identify all key decision-makers and influencers early on. Understand their buying orientations and tailor your communication to address each stakeholder’s concerns and priorities.
Our Dimensions of Professional Selling® program identifies four buyer orientations, identifying their traits, needs, and strategies to successfully work with them. Your buyer’s orientation shapes the direction and flow of the sales transaction, so knowing and understanding the type of buyer you are working with is essential.
Reason #5
Shifts in Key Stakeholders and Leadership
A new decision-maker or shift in leadership can introduce new perspectives, priorities, and even skepticism into the buying process.
Strategy: Continuously monitor the buying organization and stay ahead of any leadership changes – tools like LinkedIn, Google alerts, and your internal CRM system are great to lean on for this.
If a new stakeholder comes into play, introduce yourself immediately and demonstrate an understanding of needs and priorities. Seek out internal advocates and leverage the support of existing contacts within the organization to advocate for your solution.
In cases like this, it’s always a good idea to highlight the progress made with previous stakeholders and reaffirm the value of your established solution.
While delays in the B2B buying process are inevitable (we all face them!) understanding their root causes and addressing them head-on can significantly improve your sales success.
