You've completed your market research and validation, engaged with users, understood our champions, and now you're targeting them.
Why isn't that enough?
Because your champion isn't the only one purchasing the product.
Let me explain.
Suppose you've developed a product to help organizations recruit better.
The champion is the HR VP.
The end user includes all the hiring managers in the organization.
Other stakeholders include all managers in the organization and the recruiting team.
Besides these, other factors need approval for the tool's purchase: the CTO needs to approve the technical aspects and ensure it integrates with other systems, and the CISO has to approve it cybersecurity-wise.
Each of these roles evaluates you as a company and your product. They want to ensure that your product meets their professional needs. Therefore, relying solely on the champion won't be enough.
To succeed in B2B sales, we need to view the customer as a group with many different needs. This is where Buyer Group Marketing (BGM) comes in.
This strategy refers to a group of people in the organization who make decisions. Therefore, your marketing targets and sales process should reflect their involvement.
Gartner reports that 66% of B2B purchases involve six or more key decision-makers (with an average of 19 individuals). This means we need to sell to all those six key individuals (and often more).
This requires us to:
1. Know our champions exceptionally well - beyond "how our product can help them," but to the intricacies of their internal organizational challenges.
2. Know the other stakeholders and understand their needs from us, providing them with answers early in the purchase planning stage.
3. Consider the various personalities that need to approve the purchase and build the system accordingly during technical development.
I believe in BGM. I think it will be much easier for us to sell to an organization when we understand the interests of each relevant stakeholder in the sales process.