Your real customer might be procurement, legal, or the CFO, not the user

Introduction to the Unseen Customer

In the startup ecosystem of Bangladesh, understanding the target customer is crucial for the success of any business. However, a common mistake in product and growth strategy is assuming the user is the most important person in the buying decision, when in fact it may be procurement, legal, or the CFO. This misconception can lead to a mismatch between the product offered and the needs of the actual decision-makers, ultimately affecting the bottom line of the company.

Background: The Traditional View of Customers

Traditionally, startups focus on understanding their end-users, designing products that cater to their needs, and creating marketing campaigns that appeal to them. This approach is based on the assumption that the user has the final say in the purchasing decision. However, in many cases, especially in B2B sales, the decision-making process involves multiple stakeholders with different priorities and concerns. In such scenarios, the user might only be one of the many voices in the decision-making process, and not necessarily the most influential one.

Key Details: The Role of Procurement, Legal, and CFO

In many organizations, procurement teams are responsible for evaluating and selecting vendors, legal teams review contracts and ensure compliance, and the CFO makes the final decision based on financial considerations. These stakeholders often have different requirements and expectations than the end-users. For instance, procurement teams might prioritize factors like pricing, delivery time, and vendor reliability, while legal teams focus on contract terms, data security, and regulatory compliance. The CFO, on the other hand, is concerned with the financial implications of the purchase, including ROI, budget allocation, and cost savings.

Startups that fail to consider these stakeholders' needs may find themselves facing unexpected obstacles in the sales process. For example, a product that delights the user but fails to meet the procurement team's requirements for vendor qualification may never make it to the shortlist. Similarly, a contract that doesn't address the legal team's concerns about data protection may be rejected, regardless of the product's features and benefits.

Impact on Startups in Bangladesh

In the context of Bangladesh, where the startup ecosystem is rapidly growing, understanding the real customer is crucial for success. Startups that recognize the importance of procurement, legal, and CFO stakeholders can tailor their sales strategies to address these stakeholders' concerns, increasing their chances of closing deals. This might involve developing targeted marketing materials, offering customized solutions that meet specific requirements, and establishing relationships with key decision-makers.

Moreover, startups that prioritize the needs of these stakeholders can also gain a competitive advantage in the market. By demonstrating a deep understanding of the customer's organization and its various stakeholders, startups can build trust and credibility, differentiate themselves from competitors, and ultimately drive revenue growth.

Conclusion: Shifting Focus to the Real Customer

In conclusion, the common assumption that the user is the most important person in the buying decision can be misleading. Startups in Bangladesh must recognize that procurement, legal, and CFO stakeholders often play a critical role in the decision-making process. By understanding and addressing the needs of these stakeholders, startups can develop more effective sales strategies, build stronger relationships with customers, and drive business growth.

Source: e27 Asia