At a recent SalesCollider event, we were lucky enough to have Sam Trachtenberg come in to discuss the B2B buying process. With a background in management consulting at Fortune 500 companies and currently working as the VP of Operations at AdRoll, Sam was able to give us a valuable look at the way large companies make software investments. He spoke about the B2B buying process, touching on everything from how vendors get their foot in the door to the way contracts are renewed.
During his talk, Sam was generous enough to outline a few of the questions he asks himself when considering the value of a potential purchase. Here are a few of the questions that Sam asks himself and his team before buying anything for their business:
Should We Buy or Should We Build?
Sam admits that, while a certain product may solve certain problems for his company, they have an in-house development team that is capable of building products on their own. Because many large companies have similar teams, a company is not always required to purchase a product in order to solve their problems.
Is It Nice to Have or Is It Truly an Advantage?
One of the most interesting things that Sam points out is that only 15% of sales technology purchases result in increased productivity or revenue. Before buying anything, then, he has to seriously consider whether the amount of effort that goes into a new purchase is worth his time and the company's money.
What Does It Cost?
While it may seem obvious that someone would want to know how much a product costs before they buy it, Sam says that he asks that question from the outset. His job requires a good amount of budget management and in order to justify the time spent considering a product, he needs to know whether or not his company can afford it in the first place.