Increasing commoditisation exists in all B2B product/service industries – when ‘What’ you sell is the same as others, price becomes the key decision criteria.
Buyers now often travel further through their buying process before they contact suppliers – results in sellers being on the back foot just discussing product and price
Leading companies are focusing on ‘How’ you sell much more than in the past. This is a more achievable, cheaper and quicker route to differentiation versus heavy reliance on NPD. Whilst this isn't a new approach for many, the urgency to get it right and move beyond issue-based questioning & PPTs has now greatly increased.This is a more achievable, cheaper and quicker route to differentiation versus heavy reliance on NPD. Whilst this isn't a new approach for many, the urgency to get it right and move beyond issue-based questioning & PPTs has now greatly increased.
Executive decision-makers want a buying experience that creates value for their organisation. Research shows that executives want suppliers to provide strategic advice - 'the trusted adviser' - and will buy off those who provide it.
Sales organisations are redoubling their efforts to engage buying organisations 'earlier' and 'higher'. This is a win-win. Buyers want insights, advice and consultancy that helps them achieve strategic objectives. And selling organisations can differentiate ‘How’ they sell if they do this, helping move to value creation instead of price pressure.
Relative to yesterday, client organisations have acquired know-how and skills to deal with more needs. They've hired talent from advisory firms and only buy external services for 'critical' needs. Gone are lax policies on consultant expenditure.
Free tools, data and research now widely exist. Organisations can often easily look outside, identify risks and opportunities, answer their own questions and fix their company's problems.
Organising, specifying and acquiring professional services has changed. Corporates are more innovative in bundling or de-bundling requirements relative to the past. More price comparisons result.
Online, offshore, 'challenger' entrants and mainstream B2B product providers adding advisory capabilities to move ‘upstream’. Clients can consider different choices and more value propositions.