Evan Adams is a very knowledgeable and experienced salesperson especially in the entrepreneurial side of things. In his talk today he spoke very highly on knowing your business plan and understanding how the company buys. He even went as far as to say that the how is more important than the why. One thing that he emphasized in knowing the how is knowing who is the financial head that makes decisions to buy. Knowing who that person is and then knowing who influences him or can sway his decision is crucial. Selling to the wrong person takes time and effort that may lead to nothing. Finding the how in the company and working your way directly to that person is the best way to attack a sale. Going into a sales meeting with 5 decisions makers is how things move forward whereas if its a meeting with 5 regular joes you’re only delaying the sale. This is just part of the overarching theme that knowing how a company buys is more important than knowing why a company is buying.
3 thoughts on “Knowing How a Company Buys”
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This is so true! You may have the perfect sales pitch, but if you are pitching to the wrong person you won’t get very far. I also Like how Adams talked about how important it is to do your research beforehand, so that once you get the meeting, you can advance in the sales process and move through the funnel.
I agree Ryan, something that I found particularly interesting in todays talk is that selling is a marathon not a sprint. Evan Adams talked about how he slowly works his way up the chain of command to the decision makers. This is a very tactical approach as it means that ever one of the people that supports the decision maker will be able to hive him, hopefully, positive feedback on you and your product. This approach eliminates as many loose ends as possible and provides a great foundation of knowledge of the company and their needs.
You’re completely right, if you don’t understand the “how” of the way the company buys then you will never truly be able to influence or reach the right people or “decision-makers” in the company to make a sale.