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Demand Generation • Mktg Communications • Product Marketing
Over two-thirds of B2B buyers indicate that immediate purchase price dominates their buying decisions 60% or more of the time. This according to new research, The Considered Purchase Decision, a survey of 448 b2b buyers across a broad range of industries, confirming that as the economic malaise continues, Frugalnomics remains in full effect.
The research revealed that price dominated in 64% of purchases, delivering great news for price leaders – those focusing on initial pricing advantages versus higher priced / often more feature-rich solutions.
Certainly these results present a challenge to premium providers, who based on these results, need to steal the focus from initial purchase price, to tangibly prove lower lifecycle costs (considering all the costs over the useful lifetime of the purchase vs. just the initial purchase price), lower risk and superior value (incremental benefits of your solution vs. competition).
And these pricing discussions need to be proactive. The survey reveals that even if the buyer is not discussing the financial differences between you and the competition; know that these discussions are happening behind closed doors and driving the purchase decision.
Sales and marketing a higher-priced supplier requires proactive transparency, differentiating the higher initial price versus a superior solution with lower costs over the useful lifecycle, more business value / bottom-line benefits, and / or lower risks.VN:R_U [1.9.7_1111]For IT Buyers, It’s All About the Benjamins,
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