Be a Software Buyer Goldilocks

There is a large gap that exists within many organizations between the budgets being spent on technology and the value that technology is delivering. I’ve worked with enough organizations to see a common trend of companies spending large chunks of their budgets on tools that they never end up using.

Another result of being in this business long enough is you learn that they often fall into one of two camps when it comes to the way they make technology decisions.

They are either:

1. A cautious buyer

2. A buy-first buyer

Let’s start by looking at each persona and what makes them this way.

The Cautious Buyer

The cautious type won't pull the trigger on anything until they're absolutely certain it's the right call. They research, compare, ask for a dozen references, and months pass while the business keeps running on whatever it already has.

B2B buyers already have long sales cycles, and this group takes it to the extreme. It’s not all bad. The upside of being cautious is thoughtful decision-making. Rarely do they get caught with investments that don’t fit their organizations.

The downside is that "absolutely certain" rarely arrives, and the organization falls behind while competitors move. And sitting on the fence is the worst outcome when trying to stay competitive.

The Buy-First Buyer

The other type buys the software first and asks questions later. They are sold on the hype and the tool lands on employees' desktops with little planning for rollout, training, or integration.

This is especially dangerous with the rate that technology moves, as leaders can be subject to shiny-object syndrome. They don’t want to be left out of the newest advancements and are always looking to an edge to stand out.

The upside is speed. The downside is that most of what was purchased never gets used, and the organization ends up paying full price for a fraction of the value.

The Power of the Goldilocks

You know the story of Goldilocks and the three bears. One porridge is too hot, the other two cold, and the third just right. You don’t want to be too cautious or too quick to make a decision.  

Neither extreme serves the business well. Cautious buyers lose ground standing still, while buy-first buyers lose money standing on top of a pile of unused features.

Where you should attempt to live is somewhere in the middle. The just right. Because the healthiest organizations move deliberately. They still move, and critically, they plan for adoption at the same time they plan for procurement.

Another area where companies run into issues is that the decisions are being made by a small group of knowledgeable “power users” who are making the decision on behalf of others who will actually be in the software on a daily basis. Everyone else doesn't even know those tools exist inside the license they're already paying for. That knowledge gap, more than any technical limitation, is what drives the underuse.

How to Close the Technology Gap

If you find yourself too far on one side of the technology buyer goldilocks and are not seeing the return you want from your technology, we’ve published a new ebook to help you close the gap between what you’re spending and your return on that investment.

Download it here.

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