For Tech Startups in the Manufacturing Industry the sales cycles can get very long, even if C-level
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Good question. We are experiencing the same...
I think the key at least for us is to find the companies where our product is really a pain killer so that it attracts both key users and C-level executives. Secondly, we have made our implementation time super-short so that it does not really need any pieces of training...
ProcurementFlow.com is a B2B SaaS for industrial manufacturing companies. It solves the pain with requisition management and allows companies to move BoM to eSourcing within minutes.
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We have the same problem. And during COVID the cycles are getting longer. The won / lost rate on our final sale stage has change a lot too.
I think this is because the global context, or at least where we are located, is changing very rapidly.
We are a software factory focus on web applications and process, mostly for big or multinational companies.
But since May we opened a new vertical with some solutions for small companies too. Was not our main target, but we have to adapt too. They take faster decisions and was the key to adapt our sales cycle.
In brief....what we did was to re-evaluate the hole business plan and target during this times. Whats the first step to adapt to this times or situation.
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Clients are not deciding because they are worried about any buying decision now will influence their cash reserves. We are trying to move the discussion towards a cash - flow - improvement - concept so as to get away from this. Its what I call "paralysis by analysis" and can kill a company.
We are using pipedrive and we have created a intermediate step after "offer presented" called "in negotation" where we involve all the company so as to know why they are not deciding, what their pain points are and helping them overcome these. In some cases its a technical issue, in others its logistics , so we try to focus on these details and convince the client.
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