The new technology buyer
It is predicted that 80% of new technology spend will sit with business buyers by 2020. This is a change which has come about primarily due to confidence with technology through consumerism and secondly through technology subscription services.
Business buyers are now considered more IT savvy than ever before, and business buyers need business outcomes.
Through research by TSIA it was found that over 75% of sales leaders are already recognising a demand from customers for business-based outcomes from technology solutions.
The new breed of technology buyers are interested in being engaged by technology solution suppliers through:
- Understanding current capabilities.
- Aligning learning and development with sales enablement activities.
- Setting targets and KPIs that will indicate early success.
- Investing in commercial and outcome-engineering skills and tools to sustain the change.
- Developing a strong vertical go-to-market posture.
Increasingly, the company selected to deliver a technology solution is the one that can most effectively explain how their offer is going to deliver business value and address a known, and prioritised, business outcome. The product and professional services teams have to work together to make sure that the solution being proposed has as little complexity as possible, and that the customer can achieve the business value as quickly as possible.
Lastly, in order for the relationship to be healthy and long term, the supplier must continually and proactively demonstrate their commitment to working with the customer to optimise and extend the derived business value.
The effect of business outcome focused technology will most likely be a positive one.
There’s no magic technology that can save you the time or resources necessary to ensure success. When it comes down to it, organisations that choose to take the time to develop a strategy by working with their technology partner and team to define and focus on their desired business outcomes are most likely to succeed.