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Pushing BeyondEnterprise TechBuyer Regret Address buying challenges to acceleratetech sales growth Buying and selling enterprise technology products and solutions has neverbeen easier, or harder. The modern enterprise technology customer is more tech savvy, hasnumerous opportunities and use cases for tech, has access to more optionsand information than ever before — but often regrets their purchase. Frustrations are expanding as technology decisions become ever moredemocratized. Most buyer groups now comprise eight to 15 people. That’sa lot of people with often-conflicting objectives and goals, and who all maybe disappointed to some degree with the final purchase. Buyers that cited high regret for an enterprise techpurchase took seven to 10 months longer to buy. For the sellers of these products, the paradox between more customerpower and more regret directly impacts their growth strategies. Use these actionable insights to tackle regret head-on so you can: •Accelerate buying cycles•Reduce friction that can subdue expansion•Lessen the chances that no decision is made at all•Build more collaborative relationships with your customers Hank Barnes Distinguished VP Analyst The Extent of Regret Among Enterprise Tech Buyers Only 13%of purchases were categorized 56% 73% of tech purchasers who havebought but not yet implementedtheir products/solutions indicatedhigh regret. of the purchases studied werecategorized as high-regret. as no-regret. Buyer Regret Directly Impacts Sellers ... but buyer regret has wide-rangingimpacts Regret may not paralyze buyers ... Impact on sellers •Slower growth•Wasted time and resources•Longer buying cycles•Frustrated sales teams Most people experience levels of regret forany major purchase, but: Customers who regret their purchases: •Are much more likely to downgrade•Are less likely to expand•Are common among buyer groups thatfail to reach a decision •Even when buyers experience regretover tech purchases, they are generallyachieving objectives Even organizations that tend to regret theirpurchases: Understanding the behavior of buyers and thedrivers of regret can help technology productleaders shorten deal cycles and improve saleseffectiveness. •Still invest in technology•Are actually more likely to renewsubscriptions when they aren’t satisfied(believing some solution is betterthan none) Getting to Know Buyers High-Regret Buyers More Commonly Display Lax Decision Practices High-regret tech buyers are more likely to do each of the following: 3. Face more challenges withoccasional decision makers 2. Vacillate and stall 1. Disagree over objectives Revisiting of “subdecisions”throughout the buying effortcontributed to delays. Occasional decision makers frequentlyoverrule the buying team. Team members have different,often conflicting, objectives forthe purchase. Getting to Know Buyers No-Regret Buyers Do Three Things Differently Only 9% of no-regret buyers citefrequent disagreements over theobjectives for their tech purchase. Getting to Know Buyers No-Regret Buying Teams More Often Undertake a Range of Internal Activities Internal Activities Taken by Buying Teams% of Respondents Tech Buying Regret Can Be Linked to Buyer Type Gartner research surfaced seven different buyer profiles that make technology decisions in different ways.While no single combination of approaches guarantees success, those lacking regret are more likely toview technology more strategically and are more comfortable with change. Key take-aways for sellers No-regret buyer types High-regret buyer types Lack consensus and discipline in decisionmaking, lack clarity in internal processes, resistchange or take a tactical view of technology. Using signals about buyer types can help youidentify as early as possible those buying teamslikely to be regretful. View technology strategically and are mostlikely to follow rigorous decision practices andput in the effort to make confident decisions. By anticipating and executing how and when tomanage, optimize or avoid potential high-regretbuyers, you can avoid the pitfalls of longer salescycles or deals that fail to complete. Three such profiles contribute to 70% ofthe no-regret buyers in the survey, despitebeing only 35% of the sample. Four such profiles account for 73% of allhigh-regret buyers in the survey. Next Steps for Sellers to Reduce Tech Buying Regret Relentlessly put the customer at the center of your business. Actionable, objective insight Explore these additional complimentary resources and toolsfor high tech leaders: Webinar Webinar Infographic Research Top Trends for Tech Providersfor 2022 Crossing the New Chasm: TheDynamics of Cross-FunctionalB2B Buying Decisions How the Best Tech CompaniesEngage Buyers and Drive GrowthBetter target your buyers to drive growth. How Do Pessimist TechnologyBuyers Behave? Discover the top 10 trends impactingtech and service providers. Discover insights to optimize yourprod