B2B Buying Analysis Paralysis: The Hardships of a Decision-Maker in the Era of Information Abundance

Three dimensions of buying analysis paralysis

  • Vertical — there’s the difficulty of estimating a product or a service
  • Horizontal — there’s the problem of choice between many (or two) similar offers
  • Internal — the desire to pick the perfect option along with the fear to fail.

The difficulty of making a rational choice

  • The fox knew many ways to flee. However, when the danger came, it failed to choose one and got caught.
  • The cat, on the other side, had mastered a single method. It applied it and survived.

Emotions impacting choice

Buying analysis paralysis

Impact of buying analysis paralysis on business

Marketing Technology Landscape (“Martech 5000")

Tackling buying analysis paralysis

  • acknowledge buying analysis paralysis
  • monitor yourself when you experience it and try to recall the sensations you had prior to it
  • try to estimate the amount of data you’ve processed to find out how much information drains you
  • try to understand which factors stress you most: volume, the necessity to choose, some emotional triggers, social pressure.
  • reduce the amount of information you process per day
  • make a table that contains the names of the companies, the options you think are important to you and additional features in an offer, prices, and other relevant data
  • ask for help from a colleague
  • use the Descartes square
  • set the priorities
  • acknowledge that you won’t ever get a 100% guarantee
  • remind yourself, that not changing is worse than giving it a try
  • keep in mind that there are no perfect options
  • start processing the data with a fresh head
  • Admit losing a battle, but not the war
  • Follow Scarlett O’Hara’s principle (“I’ll think about that tomorrow”) — and set the date when you get back to the evaluation of a purchase
  • Replenish your resource (reading, spending time with your family or friends, a night ride, a concert — anything that makes you happy)
  • Don’t think of purchase during your “rest.”
  • When you return to your estimation, use the tips for the prevention of buying analysis paralysis.

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