5 ways to sell technology solutions to large organizations
5 ways to sell technology solutions to large organizations
To sell or not to sell, that is the question.
I have been engaged in decision-making processes for large capital projects in both the healthcare and A/E/C (architecture engineering construction) sectors. In different projects, I have served in different roles: the project prime consultant, as the owner’s representative, as a contractor/vendor, and as a consultant. This range of roles and projects has given me different seats at the table for the consequential conversations that organizations have when they consider new technology solutions.
I am intrigued by the wide range of organizational approaches to decision-making and also the many similarities. In large organizations, different functions and individuals within those functions each have different starting points on their decision-making journey. The specific path by which people get to “Yes” or “No” or “Not now” is based on their experience, interest, time, openness to change, and their level of involvement or level of impactedness from the project.
My most recent experience is leading the product function for a healthcare technology company that provides indoor positioning/proximity IoT solutions. In this case, a complex organization (a hospital or hospital network) will make consequential (costly and long-term) decisions about which technology and vendor they will choose for widespread use. The decision that they make will support multiple use cases, including asset tracking, nurse call, patient workflow, staff duress, hand hygiene…the list goes on. A non-optimal decision could bring them closer to achieving their goals or seriously hamper their efforts.
Here are five key factors to remember during the decision-making process:
There is no substitute for time: Both parties should be prepared to be patient and to persevere. Within a large organization, many different stakeholders and many different initiatives are jockeying for priority. It will take sustained effort to coordinate and align all the involved parties. Even just discovering all the stakeholders can take a good deal of work. Even a good understanding of the pain points and solutions can only shorten the timeline so much. Knowledge of the key players on the customer side is critical, which which us to point #2:
Find out who is championing for change and make them your ally: these are the project champions, and they are special people. They have the vision to advocate for a better future state, but also awareness of the internal processes and politics that need to be navigated in order to get there. This person is fluent in the language of the organization and often politically savvy in advocating for better solutions. The most successful champions are organized, well-liked, and firm but fair. However, it may take some work to discover who the project champion is, because they may work a bit behind the scenes.
Being honest about whether a solution-problem fit exists: The purpose of dialogue is not to make a sale, it’s to educate both parties and determine whether a transaction makes sense. A sale makes sense if the needs of the organization can be met by the current solution of the vendor, or by a modified version of the solution that is on the near-term product roadmap. Discovering and discussing the level of the solution-problem fit is advantageous to everyone, and time is of the essence. Regardless of outcome, arriving at an understanding of this should be seen as an accomplishment. If a fit exists, it will allow both parties to move forward in good faith. If a fit does not exist, the vendor should make a recommendation as to where to look for an alternate solution, and everyone can move along without wasting time. With integrity, there is upside to assessing a solution-problem fit quickly, regardless of yea or nea.
Tailored messaging is important. Different audiences think and communicate in different ways. They use different languages, and they inhabit different worlds. They are going to focus on different things when making decisions, including timeline, financials, operations, staffing, etc. For example, while the CFO and the director of operations are both concerned about preventing loss, the CFO may be more focused on quarterly or annual time horizons, while the director is likely more engaged in the daily actions of their team. While project financials are important to both parties, the talking points and metrics that they are primarily interested in are decidedly different.
Let prospects talk to your existing customers: People love seeing solutions in action, and listening to people who they can deeply relate to, like a person in an identical role and function in a site that is currently using your solution. Even though it requires significant resources, a site tour where prospective customers can interact with their counterparts is an A+ move for building confidence and rapport.
What are your thoughts on this? How have you experienced success in determining whether a technology solution is a good fit for a customer? What other hard-won pointers have you learned? Join the conversation below.
