This is the second instalment of our Decision Science blog series. In this edition, we will explore what type of decisions can be influenced and what questions vendors can be addressed by applying a Decision Science approach.
What questions can be answered by implementing a Decision Science Strategy?
In Part 1, we discussed why you should consider a Decision Science approach. The answer being that with a strong bias towards action, applying a Decision Science programme will provide a clear path towards your goals. But what relevant decisions can this method influence? And more importantly, what does this mean for your Sales and Marketing teams?
There are two types of decision which are relevant in a B2B marketing campaign: Decisions influencing a business’ purchase, and marketing decisions which can be made by the vendor
Decision Type 1: Questions regarding B2B buying cycles
By understanding what influences these decisions you will be able to understand your prospects’ needs and where they are within the purchase cycle on a deeper level. This will allow you to allocate resources more efficiently and engage with your target audience at the correct stage of the purchase process. It will aid in effectively communicating with your targets. Sales and marketing departments will not only know which companies to target, but also how and when, meaning your messaging will be more likely to make an impact.
Factors that influence whether a business will purchase or not:
- Do they need it?
- Do they want it?
- What specific need must be solved?
- Is it the best option?
- Do they like the brand?
- Will stakeholders accept the purchasing decision?
- Is the sales and purchase process good?
Decision Type 2: Questions regarding the vendor’s B2B marketing strategy
Marketing choices that can be made by the vendor in order to facilitate a sale:
- Who to target?
- How to talk to them?
- How much to invest in them?
- Which channels to use and when?
- What content works for them?
- Which customers are at risk?
Join us next week for our final instalment of this blog series where will discuss BNZSA’s Decision Science Programme, why we launched the programme and how you can get started with Decision Science.