The new profile of the technology buyer: who they are, why they buy, and how they do it

Understanding in-depth the organization seeking to acquire new software is key for companies in the industry and their leaders to drive high-quality technological agreements, with a robust working structure and mutual trust from both sides.

Understanding strategic objectives, desired outcomes, and urgency.

High-quality technological agreements start with internal consensus within the client regarding two important aspects: the need that the technology will address and the value it will generate.

A high-quality agreement is one in which the buyer is convinced that their expectations have been met, or they have acquired what they perceive as a top-quality solution. Their profile is that of a company that does not settle for anything less ambitious than what they initially wanted.

To close these types of agreements, your sales department must understand how the organization views the business value of technology in general and what value it expects to obtain from it.

Answering these questions can be challenging for many, given the lack of experience among decision-makers in technology purchases. As technology budgets grow, the customer’s purchasing experience has clashed because they lack a clear understanding of the value of specific technology and have usually failed to convince everyone of the benefits a new system can deliver.

In such circumstances, the scenario is divided into two: those who end up not finalizing the purchase or will end up regretting it or leaving the implementation incomplete. In fact, 80% of business technology decisions regret their choices after the purchase.

How to avoid it? By knowing and understanding their profile or their own buyer persona.

The first step is to understand how the organization sees the strategic business value of technology. This will clarify their goals regarding the change. Clarity of objectives facilitates the assessment of where the opportunity stands among the organization’s priorities, given the competition for attention and resources.

These are the four key factors to steer the technology acquisition process:

1. The organization’s perspective on the strategic value of IT helps define the company’s buyer persona. Do they consider technology fundamental to the strategy, or do they see it as an efficiency factor? Are they focused on the long term or seeking short-term gains? What are their specific objectives, and how urgent are they?

2. The triggering factor is the event that unveils the challenge or opportunity that the organization aims to address and motivates action. . These triggers can be internal or external. For example, renewal deadlines, new leadership, external consultations on operational models, new regulations, or even a disruption such as the COVID-19 crisis.

3. The objective is an outcome that the organization aims to achieve. These objectives can be at the company level, business unit, or initiative. The goal is not typically the technology itself. Instead, the idea is that technology helps the organization execute its objective

4. Priority may be challenging to discern initially, but teams seeking technological change are more likely to be highly motivated when it addresses strategic objectives at the organizational level. Needs at the initiative or even business function level risk being sidelined unless they clearly impact the organization’s ability to achieve its strategic objectives.

Publicado originalmente el 4 de December de 2023, modificado 4 de December de 2023