Sales organizations in the technology space have gotten much better at formalizing, measuring, and executing sales processes. Most have a pretty clear picture of all the stages that need to be traversed, milestones achieved, and decisions made between when a salesperson tags something as an opportunity in the CRM and the day they log a signed contract.
But buyers, of course, don’t think in terms of sales processes. They think about solving problems. And the overwhelming sentiment is that it is hard to buy. Each phase of the process is fraught with challenges for buyers.
Over the last several quarters, we have conducted “snapshot” surveys with over 700 executives who purchase technology solutions to better understand the buying process from the inside and uncover the biggest pain points they have throughout the five major states of their buying process:
- Clarifying Business Requirements
- Identifying potential solutions
- Evaluating solutions against criteria
- Agreeing internally on a solution
- Negotiating terms and finalizing a contract