B Y T O M T O R T O R I C I
The initial pitch meeting with your new B2B prospect actually went well. Your contact at the company was supportive, open to your ideas, and didn’t balk at the price.
Feeling good about yourself, you simply waited for approval to get started, and a for deposit payment.
And then you waited some more. Finally, you left a message, but your previously enthusiastic contact didn’t return your call. Frustrating, right? Eventually, you received a terse email, informing you that the company wouldn’t be going forward with your proposal.
What happened? Unfortunately, the same thing that happens every single day to disappointed vendors. While your contact was on board with having you do the work, it turns out that they weren’t the only person at their firm who had a say in the matter.
One or more other stakeholders there likely nixed the deal – ‘secret’ stakeholders that you never even got to speak to. Sure, your contact may have sung your praises, but the reality is that no one can sell your services like you can.
Unless your contact is the CEO, they have a boss, and their boss has a boss, and everyone has an opinion. Which is why buying cycles in B2B tend to be longer and more fraught than consumer purchase decisions.
So what can you do about this disturbingly common scenario? After all, as an outsider, you have no knowledge, let alone control, regarding another business’ internal considerations, discussions and disagreements.
As it turns out, there are some things you can do to improve your chances.
In your initial discussions with your contact, ask them who else might be involved in outsourcing decisions, and the review of your work. Ask what those players’ priorities and considerations are likely to be. After all, you want everyone to be pleased with your efforts. And it makes sense to understand all expectations before you begin, rather than after you’re finished.
Then when you prepare your pitch materials for your contact (Statement of Work; your company’s bona fides; etc.), also include brief, targeted versions in PDF form, for your contact to pass on to the other decision-makers who you will never get to personally talk to.
Or even better, produce a short video for each secret stakeholder, which does give you a chance to pitch them, and gives them a chance to meet you (at least virtually). Be sure to let your contact know that these efforts are meant to help them, not undermine them.
For the CFO, naturally, emphasize the ways in which your approach saves them money, or is likely to make them money. For the CEO, focus on how your work will support their firm’s overriding mission. For others who will be on the receiving end of your efforts, perhaps point out your track record of always delivering excellent work on time.
You can also help arm your contact with succinct and relevant talking points for each of those other hidden stakeholders. Or offer reviews from previous clients, as well as references they can check. A CFO, for example, is more interested in what another CFO, with similar considerations, had to say about you.
Remember, your aim isn’t just to get the project. It’s also to get people to feel good about themselves, for using your product or service as their own means to their own ends. Ultimately, this is not about you, your company or even your work product. It’s how they themselves benefit, from their own individual point-of-view.
No, you’ll never fully know all the personalities or internal dynamics at another company. Just know that every business decision-maker assesses risk in every decision. When you make the effort to address their individual considerations and concerns, you’ll at least help them feel more confident about committing to someone they’ve never met.
Tom Tortorici Inc. | Tom@TomTortorici.com | 770-934-7861 | 3101 Rockaway Rd | Atlanta GA 30341