NFIB

Psychology of the Corporate Buyer
08/ 09/ 2002

by Jeffrey Moses

Non-corporate customers may base their purchasing decisions on value, actual need, emotional need, or a desire to obtain status symbols among other things. Purchasing managers of companies, however, usually have an additional need--and one just as important to them. They need to avoid making mistakes. They need to avoid looking bad, as a result of selecting the wrong product or vendor. In other words, they need to make sure that their jobs won't be jeopardized and they won't appear foolish or inadequate to their associates.

You may find that corporate buyers tend to seek many competing bids, each with as much detail as possible about products or services to be purchased. As a provider, you may become caught up in a lengthy process of refining your purchase order and answering seemingly insignificant questions about "what if this happens."

Throughout this process, you should be aware that buyers really want to do the best job possible for their company. But also keep in mind the unspoken need they have to not make a mistake. To address this issue, always reassure corporate buyers that youÆve done similar work successfully many times, and can handle every aspect of the project. Tell them in no uncertain terms that youÆll make them look good if they choose you to do the project.

When you sense that corporate buyers are reluctant to make a final choice, often delaying their decisions past their stated deadline, remember that it may be emotionally uncomfortable for them to commit to a certain product or vendor. Saying "no"--or not saying anything at all--is less risky than proceeding and possibly making a mistake.

At some point, of course, they will have to make a decision, and you can reduce their anxiety level by asking, "What exactly can I do to help you reach a decision that you feel confident presenting to your associates?" Your goal is to find out what they need in the form of documentation, technical information, product or service warranties, customer testimonials or any other intangible bit of support that will help reduce their anxiety level. When you can provide this, you will have made it easier (i.e., less of a risk) to purchase from your company.

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