{"id":3435,"date":"2020-10-02T04:30:01","date_gmt":"2020-10-02T09:30:01","guid":{"rendered":"https:\/\/top1.fm\/DailySalesTips\/?p=3435"},"modified":"2020-10-01T19:42:26","modified_gmt":"2020-10-02T00:42:26","slug":"sales-tip-622-why-buyers-behave-the-way-they-do-part-4-bottleneck-items-mark-schenkius","status":"publish","type":"post","link":"https:\/\/top1.fm\/DailySalesTips\/sales-tip-622-why-buyers-behave-the-way-they-do-part-4-bottleneck-items-mark-schenkius\/","title":{"rendered":"Sales Tip 622: Why Buyers Behave The Way They Do (Part 4 – Bottleneck Items) – Mark Schenkius"},"content":{"rendered":"

\"\"“Don’t listen to what a buyer tells you. Instead, look for your own facts by making a list of who your real competitors are.” – Mark Schenkius in today’s Tip 622<\/p>\n

Why buyers behave the way they do?<\/strong><\/p>\n

Join the conversation below<\/a> and check out the links!<\/p>\n

ROI 10<\/a>
\nThe Other Side of Sales<\/a>
\nMark Schenkius on LinkedIn<\/a>
\n601: Why Buyers Behave The Way They Do (Kraljic Matrix Series Part 1)<\/a>
\n608: Why Buyers Behave The Way They Do (Part 2 \u2013 Routine Items)<\/a>
\n615: Why Buyers Behave The Way They Do (Part 3 – Leverage)<\/a><\/p>\n

Have feedback? Want to share a sales tip? Call or text the Sales Success Hotline: 512-777-1442<\/strong> or Email: scott@top1.fm<\/strong><\/p>\n

Transcript<\/h3>\n

Scott Ingram: You\u2019re listening to the Daily Sales Tips podcast and I\u2019m your host, Scott Ingram. Today Mark Schenkius is back with another installment in his series. Mark is the founder of ROI 10<\/a> where he helps sales professionals get better at dealing with buyers, and he\u2019s also the author of \u201cThe Other Side of Sales<\/a>,\u201d where he shares his perspective after 15 years in procurement. Here he is:<\/p>\n

Mark Schenkius: What’s going on Daily Sales Tips Community. I’m Mark Schenkius and I’m back with Part 4 of Kraljic Purchasing Portfolio Matrix. So far, we’ve covered a high-level overview of the framework, and we’ve talked in more detail about routine and leverage items. If you need to get caught up, check back in on tips 601, 608, and 615.<\/p>\n

Today, we move to bottleneck items. This quadrant is actually the flip side of leverage. Risk is high, but profitability is low. Here the strength is in your hands. The market consists of one of a few suppliers that can behave monopolistically to force prices upward. Even though these items have a limited impact upon company profitability, they still demand a high level of intention from buyers. And trust me, they don’t like to spend time here since all they do is manage risks and not deliver real monetary value, which is usually what they think they’re paid for.<\/p>\n

A great example of this is a small piece of specialist software. It’s difficult to source elsewhere. However, financial impact is typically low.<\/p>\n

For buyers who are interested in changing the status quo. The strategic approach they could take is twofold.<\/p>\n

1. To find or develop alternative suppliers.
\n2. Simplify it as specification, which essentially creates opportunities for other suppliers to step in.<\/p>\n

The interesting bit is that buyers normally behave reactively as opposed to proactively, but regards to bottleneck items. They tend to address issues when they appear rather than deal with them upfront. And that creates opportunities for you.<\/p>\n

So what does this mean exactly for you as a sales professional?<\/p>\n

Well, in simple words, you have an opportunity to exploit the customer or buyer since you have nowhere else to go.<\/p>\n

The only caveat here is that once a buyer feels that their backs are against the wall, they will look for ways to get out.<\/p>\n

So the trick here is to use your preferential status just enough not to frustrate the buyer.<\/p>\n

Now, one thing to watch for is that buyers will never ever tell you that you’re a bottleneck supplier to them. Since it’s weakened stand negotiation position.<\/p>\n

So don’t listen to what a buyer tells you. Instead, look for your own facts by making a list of who your real competitors are.<\/p>\n

If you can’t think of any, there’s a good chance. You’re a bottleneck supplier. Happy negotiations everyone.<\/p>\n

Scott Ingram: For more about Mark and his book \u201cThe Other Side of Sales<\/a>,\u201d click over to DailySales.Tips\/622<\/a> and we\u2019ll have everything for you there including a transcript of his tip.<\/p>\n

Then make sure you\u2019re subscribed to the podcast so you don\u2019t miss the rest of Mark\u2019s series with the final installment coming next Friday. You should also come back tomorrow for another great sales tip. Thanks for listening!<\/p>\n","protected":false},"excerpt":{"rendered":"

“Don’t listen to what a buyer tells you. Instead, look for your own facts by making a list of who your real competitors are.” – Mark Schenkius in today’s Tip 622 Why buyers behave the way they do? Join the conversation below and check out the links! ROI 10 The Other Side of Sales Mark…<\/p>\n","protected":false},"author":2,"featured_media":2399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"content-sidebar","footnotes":""},"categories":[40],"tags":[],"class_list":{"0":"post-3435","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-daily-sales-tips","8":"entry"},"yoast_head":"\nSales Tip 622: Why Buyers Behave The Way They Do (Part 4 - Bottleneck Items) - Mark Schenkius - Daily Sales Tips<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/top1.fm\/DailySalesTips\/sales-tip-622-why-buyers-behave-the-way-they-do-part-4-bottleneck-items-mark-schenkius\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sales Tip 622: Why Buyers Behave The Way They Do (Part 4 - Bottleneck Items) - Mark Schenkius - Daily Sales Tips\" \/>\n<meta property=\"og:description\" content=\"“Don’t listen to what a buyer tells you. 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