Whenever a purchase is inevitable (the customer must act) your competition tends to be predictable - and it will often be another vendor like you. But - as is so often the case in complex B2B sales - the purchase is discretionary (the customer may or may not decide to act) - your fiercest competitor is often the status quo.
This was true even before Covid affected our economy. It is even more true now. It will continue to be important in the future. But the status quo isn’t what it used to be.
Preserving the status quo involves doing nothing and sticking with what is familiar rather than venturing into the unknown. It has often been seen by customers as their least-risk option, particularly if there was any significant uncertainty about whether any proposed changes were likely to have a positive impact.
But your customer’s world has changed and for many the old certainties and uncertainties will no longer apply. Battening down the hatches until they can revert to the “old normal” - far from being the safe approach - may now be a risky strategy. For many, change is inevitable...Read More