In B2B sales, we think we are powerful as customers.
The vendor’s job is to understand our requirements, problems and offer solutions that fit our needs. The vendors try to develop a good relationship with us and adapt to our priorities and constraints. For instance, if we are busy, any good vendor adjusts their schedule according to our availability.
The vendors put much effort upfront and for free. For example, they respond to RFP, product demos, procurement emails.
On the other hand, as customers, we may have an illusion that we hold a position of power. For example, we dictate the procurement process’s agenda, needs, problems, selection criteria, and timelines. In the procurement process, we get the impression that we exchange our capital with the vendor’s offer. So, we just have to make a few decisions. However, this position of power can mislead us.
The fact is that – it is our job to answer a few fundamental questions, like:
- Knowing the problems, their symptoms and root cause?
- What are the needs of our organisation?
- Do we know our constraints?
- Have we engaged the right stakeholders?
- Do we know our stakeholder’s expectations?
- Do we know the solution options?
- Are we ready to procure the solution?
- What is the procurement process?
- How will we make sure that we will make the right procurement decisions?
These questions are not easy to answer. It is pure hard work. So, we are better off starting with humility, doing our homework and ensuring to partner with the right vendor.
