PHASE 3: BUYERS
Understand the pricing implications of how buyers buy.
Intimately knowing your buyers needs and how they buy will allow you to capture more value from the market. Your ability to sell your solution at your desired price is highly dependent on how well your offering resonates with the buyers. Buyers have preferences for what they buy, the way they buy, and the way they pay. You must understand the wants and needs of your buyers so that you can best package and price your solutions.
1. You have identified the primary buyer for each product.
2. You have identified the buying decision team (BDT) and purchasing process for each market segment.
3. You have mapped your buyers journey for each market segment.
4. You have identified the factors your buyers consider before purchasing a product.
5. You have quantified the relative importance of each of these buying factors.
6. You have quantified the perceived performance of your product for each buying factor.
7. Your value propositions been validated by your customers.
8. You are tracking win/loss metrics, including capturing why a competitor was chosen vs. your company.
9. You have researched what pricing model each buyer is used to.
10. You have researched what your buyers view as the fairest way to set prices.
• Buyer Personas
• Buying Process Maps
• Buyer Preferences
• Buyer Value Chain Analysis
• Critical Success Factors