 | Does Networking Add Value When You're Buying? | What's your best strategy? | Posted on: 17/07/2013 By: Jacky Sherman |
A group I joined recently on LinkedIn had an interesting debate about whether members should actively promote their services or not. Here’s a couple of examples of responses that prompted this blog post ...
The deal is done and the paperwork signed; but what made you choose this supplier?
"In my day to day activity I am subject to much marketing and many sales calls. To be frank, I do not require any more! I work in the knowledge that if I require any services, an Internet search engine usually provides."
"I am sure when people wish to purchase goods, if they are unsure, a quick Google will help them; no more marketing please."
So how do you choose what product or service to buy? There’s a whole body of literature and research on the subject. Three points come across to me as important to consider when buying:
As humans we make decisions in our subconscious mind BEFORE it comes to our awareness. This means our purchasing decisions are influenced by parts of our mind we are not aware are influencing us! Secondly, we build in assumptions as we cannot research every known fact about what we want to buy before we make a decision. Our judgment is rarely (if ever) fully rational. Thirdly, we don't know what we don't know. So we can miss new, innovative solutions unless someone brings them to our attention.
Here’s some questions to challenge yourself whatever your chosen purchasing method:
Formal tenders
If you are in the public sector or a large corporation then major purchasing decision are probably made this way. Are you making a decision based on who either has the time and expertise to write the best proposal or the person who will really provide the best value for money? How did you bring this tender to people’s attention? Are you accessing alternative solutions? Advertising your need
"I’m looking for ..." How did you decide where to advertise? Have you got the time to sift through all the responses? How do you decide which to throw in the bin? Search the web
What words did you punch into Google? Was it your problem or your already perceived solution? Did you look further than the first page of the first search you did? Are you choosing who has the best Search Engine Optimisation expertise or the best value for money for you? Are you actually responding to the skills of their web designer or marketeer? Companies/products you already use
Are you choosing the devil you know? Are they really offering the best value solution? Are you being lazy or just cautious? Responding to advertisements or cold-calling
Did they catch you just at the moment you were feeling the pain of your problem or not on your guard? Do you respond only to those who offer a solution at that particular moment or did they have an advert that stands out, or the most persuasive/persistent salesman? Responding to evidence of expertise through social media.
Is it their content and expertise? For instance, how do you know I wrote this blog and didn't pay someone to do it for me? On-line testimonials
Are these from a real, named customer? Do they give evidence of the actual service provided? Can you contact that person? What about unfavourable testimonials? Recommended to you by someone
What’s in it for them? What’s more important to them? Their relationship with you or with the other person who they are recommending? How well do they know the person they are recommending? How well do they know your actual needs?
Oh my goodness what a minefield!
Seems much easier to get it wrong than right. Now if the decision is just to choose which restaurant to go to this Friday, it may not be that important. If it's a £10K contract or a big problem in your business then it probably is more critical, isn't it? What are the consequences of getting it wrong? You could think of the person who chose their beef supplier for their pies recently to get an example of what I mean!
So can networking help? We tend to think of networking as being for the supplier. We build a network to market our services. Yet when you look at the above, the wider and more diverse your network, the more resources you can call upon to help you make buying decisions as well as counter some of the bias you may have in your decision making process.
So my tip for this week is this: ensure that your network includes people who you identify as knowledgeable and supportive, whose opinion you can trust and who have access to great suppliers of products, services and knowledge that can help you. You'll need a range of people you build deep, trusting relationships with so they are motivated and committed to your best interests.
Then use their expertise to support and challenge you, whichever methods you use to make your decision. Wouldn't that be so much better than just relying on a quick Google search?
If you’d like help in building your network of trusted advisors, supporters as well as referral partners then I can help you! Call me on +44 (0) 7970 638857 or click here to ping over an email because having the right, trusted network can make a whole world of difference when you need to make buying decisions for your business.
Until next time ...
JACKY SHERMAN
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